Core Viewpoint - The popularity of Labubu from Pop Mart indicates a new consumption era where young consumers are willing to pay for emotional value [2][4][7] Group 1: Market Trends - Labubu has sparked a global phenomenon, leading to a surge in demand for related products, including gold versions of Labubu accessories [2][4] - In Shenzhen's Shui Bei market, many gold "Labubu" items are being sold as mobile phone charms, priced between 28 to 100 yuan, with low gold content [4][6] - The trend reflects a shift towards expressing emotional value through affordable gold accessories, as high gold prices have not deterred consumer interest [4][7] Group 2: Product Authenticity and Sales - Sellers emphasize that the gold versions are not identical to the original Labubu products and are often considered unauthorized replicas [4][6] - High-weight gold versions of Labubu are not openly sold due to potential copyright infringement, and customers must pre-order them [6][7] - Despite rising international gold prices, sales in Shenzhen's gold markets have seen a decline, prompting sellers to focus on smaller, design-oriented gold items [7] Group 3: Investment and Speculation - Reports suggest that the core of IP toy consumption is the immediate satisfaction of emotional value, with Labubu meeting this demand [7] - A unique mint green Labubu recently sold for 1.08 million yuan at an auction, highlighting the speculative nature of the market [7] - Some collectors view purchasing Labubu as a form of investment, but there are warnings about the risks of market speculation [8]

Core Viewpoint - The popularity of Labubu from Pop Mart indicates a new consumption era where young consumers are willing to pay for emotional value [1] Group 1: Market Trends - Labubu's global success has led to the emergence of gold-plated "Labubu" accessories in Shenzhen's Shui Bei market, with prices ranging from 28 to 100 yuan [2][4] - Many of these gold accessories are not authentic and are primarily mobile phone charms, with low gold content [4][6] - The demand for these accessories reflects a shift towards expressing emotional value in consumer purchases, even at lower price points [4][7] Group 2: Consumer Behavior - Consumers are increasingly interested in small, design-oriented gold items, such as necklaces and bracelets, as well as affordable products under 100 yuan [7] - The emotional value associated with IP toys like Labubu is driving immediate consumer satisfaction, with a notable increase in product circulation and attention [7][8] - Labubu has been referred to as a "gold substitute" for young consumers, indicating its rising status in the market [7] Group 3: Risks and Speculation - There are warnings about the risks of speculation surrounding trendy toys, with some industry insiders advising caution against being the last to invest [8]