Core Viewpoint - The evolution of China's banking industry in attracting deposits has shifted from traditional methods to innovative marketing strategies, particularly targeting younger consumers through trendy products like LABUBU blind boxes [1][5][12] Group 1: Historical Context of Deposit Attraction - In the 1990s, banks relied on interest rates and physical branch expansion to attract deposits, focusing on local service advantages [8] - Post-2010, banks diversified their strategies with promotional gifts like essential goods and appliances, but this led to increased costs and regulatory scrutiny [9][10] - Recent years have seen banks adopting more creative approaches, such as customer points systems and partnerships with e-commerce platforms to enhance customer engagement [10][11] Group 2: Current Trends and Innovations - The LABUBU blind box craze has become a new marketing tool for banks, with promotional activities like "deposit to receive LABUBU" gaining significant traction among young customers [5][6] - The promotional activities have clear participation criteria, such as minimum deposit amounts and account types, aimed at attracting new customers [6][7] - Banks are leveraging the social media buzz around LABUBU to create a viral marketing effect, which is more appealing than traditional gifts [7] Group 3: Challenges and Considerations - While innovative marketing strategies can attract younger customers, they may not contribute to long-term customer loyalty or financial service ecosystem development [7][12] - Analysts caution that such promotional tactics could lead to unsustainable practices, including potential regulatory violations and increased competition among banks for high-cost customer acquisition [12][13] - The banking industry is urged to focus on compliance and sustainable practices rather than relying on gimmicks, emphasizing the need for quality products and services to retain customers [12][13]