Market Trend & Industry Dynamics - Blind box craze is catching on across the economy, with various industries offering their own versions [1] - PopMart, behind the Labubu character, is at the forefront of the blind box phenomenon [2][7] - Blind boxes gained popularity during the pandemic due to budget-friendly splurges for emotional pick-me-ups [4] - The emotional economy drives the appeal of blind boxes, offering a thrill of uncertainty and potential for rare finds [8] - Government expresses conflicted messaging about the blind box craze, balancing pride in Chinese soft power with warnings about addiction [5] Consumer Behavior & Spending - A 23-year-old student spends $55 per month on blind boxes [3] - Prices average from $9 to $30 per blind box [3] - One collector owns 150 blind boxes [3] - Curiosity about the contents motivates customers to repeatedly purchase blind boxes [4] Company Strategy & Marketing - PopMart markets blind boxes online and through vending machines [4] - PopMart's packaging significantly contributes to the allure of Labubu [7]