Core Viewpoint - A plush toy from China, Labubu, is creating a speculative frenzy in Europe and the US, surpassing even cryptocurrency trends, indicating a shift in traditional business logic and market rules [1][2]. Group 1: Market Dynamics - The hashtag Labubu on TikTok has garnered hundreds of millions of views, showcasing the intense fan engagement and excitement surrounding the toy [3]. - Labubu's offline sales are exceptionally strong, with consumers queuing for hours at Pop Mart stores, and new releases selling out within seconds, often leading to bidding wars where prices can double or triple on resale platforms [5]. - Due to the chaos caused by the rush to purchase, Pop Mart has had to suspend all Labubu sales in the UK [7]. Group 2: Cultural Impact and Consumer Behavior - Labubu's popularity is rooted in its unique blind box purchasing model, which turns buying into a ritualistic experience, combining elements of gambling and excitement [12]. - The character serves as a status symbol in the fashion world, with its presence at major events like New York Fashion Week, reflecting a trend where owning rare or fashionable Labubu toys signifies cultural sophistication [14]. - The phenomenon aligns with the "lipstick effect," where consumers opt for small luxuries during economic uncertainty rather than high-priced items [14]. Group 3: Modification Trends - Initially, consumers were excited about purchasing authentic Labubu toys, but this quickly evolved into a trend of modifying the toys, such as giving them exaggerated features like long eyelashes and enhanced body shapes [15][18]. - The trend of modifying Labubu has gained traction on social media, with videos showcasing these transformations going viral, despite the risks associated with such procedures [20]. - The rise of "Lafufu," a knockoff version of Labubu, highlights a growing market for cheaper alternatives, with some consumers preferring these for their quirky and imperfect characteristics [34][36]. Group 4: Cultural Exchange - The global Labubu craze exemplifies a blend of consumer psychology, social media influence, and cultural exchange, where both Chinese and Western markets are influencing each other's trends [36].

以下文章来源于Tech星球 ，作者林京 Tech星球 . Tech星球，聚焦互联网前沿科技和新商业。 谁在靠哪吒狂赚？ 作者 | 林京 来源 | Tech星球 （ID：tech618） 《哪吒2》电影票房不断刷新记录之后，庞大的观影人群，也让售卖哪吒周边衍生品的线 下门店客流暴增。 北京某商场里的一位卡游店员向Tech星球表示，这几天，在店门口哪吒和敖丙的人形立 牌打卡拍照人数，一度超过进店人数，放置在门店中心位置的"小马宝莉"IP不再是门店 顶流，而在其背后的哪吒周边衍生品不断有消费者前来咨询，员工不得不一遍又一遍重 复"已经没货"的通知。 截至目前，《哪吒2》电影票房已突破86亿，观影人次达1.62亿，登顶中国影史票房冠 军之后，又冲进全球影史票房榜前30名。 在电影院意犹未尽的观众，将目光投向了哪吒联名周边。 在卡牌、盲盒的线下门店里，以往都是圈内资深小众玩家进店，现在店员们很容易就能 辨别出哪些是新用户，因为他们并不了解最基本的端盒和隐藏款概念。比如，泡泡玛特 推出的《哪吒2》系列盲盒中，隐藏款"灵珠版哪吒"的抽取概率为1/96。一些消费者为 了抽到一张卡游推出的《哪吒2》SP卡（稀有卡牌），选择花费 ...