Core Insights - The launch of the "Star People Delicious Moments Series" by Pop Mart has generated significant consumer interest, with a live stream viewership of 270.5 million on Tmall and 560,000 on the box machine mini-program before the sale [2][10] - The inventory for the new series was notably lower compared to previous releases, leading to a rapid sell-out of products within minutes of launch [2][10] - The secondary market shows that the new series has a higher premium compared to the previously released mini version of LABUBU, indicating strong demand and potential for future sales [10][11] Sales Performance - The "Star People" series saw over 360,000 items added to shopping carts, but only 20,000 plush cookie pendants were available for sale, leading to a quick sell-out [2][5] - The mini version of LABUBU had a total sale of over 300,000 items during its launch, highlighting the competitive nature of Pop Mart's product releases [2][10] Market Trends - The secondary market prices for the "Star People" series have surged, with hidden items selling for up to 16 times their original price, indicating a strong collector interest [10] - The average transaction price for the "Star People" plush pendants is higher than that of the competing "Crybaby" series, suggesting that "Star People" may be positioned as the next leading IP for Pop Mart [11] Competitive Landscape - The competition between "Crybaby" and "Star People" is intensifying, with "Star People" currently outperforming "Crybaby" in terms of average transaction prices on secondary platforms [11] - The market is closely watching which IP will emerge as the next major hit for Pop Mart, especially following the decline in popularity of LABUBU [11]

Core Insights - The article discusses the recent launch of Pop Mart's "Star People Delicious Moments Series," which generated significant consumer interest and a buying frenzy, with products selling out within minutes [2][8] - The inventory for the new series was notably lower compared to previous releases, leading to a high demand and rapid sell-out [2][8] - The resale market for the new series shows a higher premium compared to previous products, indicating strong market interest and potential for future growth [8] Group 1: Product Launch and Sales Performance - Pop Mart's "Star People Delicious Moments Series" was launched on September 29, with live streaming attracting 270.5 million viewers [2] - The initial stock for the series was limited, with only 20,000 units of the plush cookie pendant available, despite over 360,000 consumers adding it to their carts [5][8] - The products sold out within minutes, highlighting the strong demand and consumer anticipation [2][8] Group 2: Market Dynamics and Pricing - The resale prices for the hidden "Cookie Bear" variant reached up to 929 yuan, a 16-fold increase from the original price of 59 yuan, indicating a strong premium in the secondary market [8] - The average transaction price for the "Star People" blind box was 167 yuan, compared to 135 yuan for the competing "Crybaby" series, suggesting that "Star People" is commanding a higher market value despite a lower original price [9] - The article notes that the "Star People" series has outperformed the previous "Labubu" series in terms of resale value, with higher premiums observed [8][9] Group 3: Competitive Landscape - The competition between "Star People" and "Crybaby" is intensifying, with both series showing strong sales performance on secondary platforms [9] - The article highlights the need for Pop Mart to maintain the momentum of "Star People" to establish it as the next leading IP following the decline of "Labubu" [9] - The market is closely watching which new character will emerge as the next top seller for Pop Mart, as the company seeks to innovate and capture consumer interest [9]

Core Viewpoint - The article discusses the recent launch of the "Star People Delicious Moments Series" by Pop Mart, highlighting the significant consumer interest and the rapid sell-out of products, indicating strong market demand and the potential for high resale value [3][8]. Group 1: Product Launch and Sales Performance - Pop Mart's "Star People Delicious Moments Series" was launched on September 29, generating a massive online viewership with 270.5 million views on its Tmall flagship store and 560,000 viewers on its live stream [3][5]. - The initial stock for the new series was significantly lower than previous releases, with only over 20,000 units of the plush cookie pendant available, leading to a sell-out within minutes [3][5]. - The sales performance of the new series surpassed that of the previously popular mini LABUBU series, which had sold over 300,000 units on its launch night [3][8]. Group 2: Resale Market and Pricing Dynamics - The resale market for the "Star People" series shows a remarkable premium, with the hidden variant "Little Bear Cookie" reaching a peak transaction price of 929 yuan, a 16-fold increase from its original price of 59 yuan [8]. - The average transaction price for individual blind boxes from the "Star People" series is 167 yuan, compared to 135 yuan for the "Crybaby" series, indicating a higher market value for the new series despite its lower original price [9][10]. - The overall premium for the "Star People" series is higher than that of the mini LABUBU series, which had a maximum premium of 12.5 times its original price [8][10]. Group 3: Competitive Landscape - The competition between Pop Mart's IPs, particularly between "Star People" and "Crybaby," is intensifying, with "Star People" showing stronger sales performance in the recent market [9][10]. - The article notes that while "Crybaby" was previously favored as the next big hit, the emerging popularity of "Star People" suggests a shift in consumer preference [9][10]. - The ongoing success of "Star People" is crucial for Pop Mart as it seeks to establish a new leading IP following the waning popularity of LABUBU [10].

Core Insights - The launch of the "Star People Delicious Moments Series" by Pop Mart has generated significant consumer interest, leading to a buying frenzy with high viewership on live streams [2][8] - The inventory for the new series was notably lower compared to previous releases, resulting in products selling out within minutes [2] - The secondary market shows that the new series has a higher premium compared to previous releases, indicating strong demand and potential for future growth [8][9] Group 1: Product Launch and Sales Performance - Pop Mart's new series saw a live stream viewership of 560,000 on the抽盒机小程序 and 2.705 million on its Tmall flagship store [2] - The "Star People" series products sold out within minutes, with over 360,000 consumers adding the plush cookie keychain to their carts, while only 20,000 units were available [2] - In contrast, the previous "Mini LABUBU" series sold over 300,000 units on its launch night [2] Group 2: Market Demand and Pricing Trends - The hidden variant "Little Bear Cookie" from the new series has seen its price rise from 59 yuan to 929 yuan, a 16-fold increase, indicating high market demand [8] - The average transaction price for the "Star People" blind box is 167 yuan, compared to 135 yuan for the "Crybaby" series, despite the lower original price of the "Star People" blind box at 89 yuan [9] - The premium for the new series exceeds that of the previous "Mini LABUBU," which had a maximum price increase of 12.5 times [8][9] Group 3: Competitive Landscape - The competition between "Star People" and "Crybaby" is intensifying, with "Star People" emerging as a strong contender for the next popular IP after "LABUBU" [9] - The market is closely watching which character will become the next top seller for Pop Mart, especially as the popularity of "LABUBU" begins to wane [9]