Core Insights - The launch of the 10th anniversary custom Labubu necklace by POPOP, a jewelry brand under Pop Mart, has sparked significant market discussion, particularly regarding consumer recognition of IP emotional value and Pop Mart's brand premium capability [2] Group 1: Brand Extension Challenges - Pop Mart's introduction of the jewelry brand POPOP represents a crucial attempt to diversify the monetization of IP value [4] - POPOP's products, primarily made from S925 silver, shell pearls, and zircon, are priced between 319 yuan and 26,990 yuan, with one necklace priced at 19,800 yuan, challenging traditional jewelry pricing norms [4] - Unlike traditional jewelry that emphasizes material premium, Pop Mart recognizes that Generation Z is reconstructing jewelry consumption logic through emotional premium, positioning itself at the intersection of "affordable luxury" and "IP collectibles" [4] Group 2: Consumer Decision-Making Challenges - Transitioning from purchasing blind boxes priced in the tens or hundreds of yuan to jewelry costing thousands significantly increases decision-making costs for consumers [5] - The challenge lies in conveying the emotional value of IP jewelry to justify its high prices [6] - Establishing a differentiated competitive advantage amidst competition from traditional jewelry and affordable luxury brands is essential [6] Group 3: Strategic Value of Official Websites - An official website is crucial for brand differentiation, offering three irreplaceable advantages over third-party platforms: [8] - Brand narrative autonomy, allowing complete control over content presentation [8] - Ownership of user data, enabling direct insights into consumer behavior without reliance on third-party data [7] - Pricing control, eliminating price comparison interference from third-party platforms [8] Group 4: Building Emotional Connections - The official website serves as the most effective medium for conveying brand value propositions [9] - Pop Mart positions its jewelry as an "IP personality extension," with product logic translating "toy personas" into accessories [9] - The website can showcase meticulous attention to detail through high-quality visuals, storytelling, and simulated usage scenarios [10][11][12] Group 5: Pricing Authority - The official website aids in establishing pricing authority by highlighting unique value and shifting consumer focus [14] - Pop Mart employs a fixed pricing model, with a Baby Molly gold bead priced at 1,380 yuan, reflecting a price per gram significantly higher than traditional gold jewelry [14] - By guiding consumer decisions towards emotional value, design complexity, and collectible significance, sensitivity to material costs diminishes [14] Group 6: Future Vision of Official Websites - The future of corporate websites will evolve into the core of a brand's digital ecosystem [16] - Acting as a user data hub, providing insights for product development and marketing strategies [17] - Serving as a connector for offline stores, social media, and e-commerce platforms, ensuring a unified brand experience [18] - Functioning as a reservoir for private traffic, converting visitors into engaged user assets through membership systems and content marketing [19] Group 7: Conclusion on Brand Value and Pricing - When brand value is effectively communicated through the official website, and differentiation is accurately perceived, companies naturally gain pricing power [20] - This pricing authority is not merely a cost-plus approach but reflects the rich interest of the brand's emotional account [20]

Core Viewpoint - The recent surge in spot gold prices has led to increased consumer interest in gold investments, prompting companies like Pop Mart to enter the gold jewelry market with their Popop brand, leveraging their Baby Molly IP to attract customers [1][2]. Group 1: Market Context - Spot gold prices have reached historical highs, influencing consumer psychology towards gold as a valuable investment [1]. - The Chinese潮玩 (trendy toy) market is projected to grow from 727 billion yuan in 2024 to 911 billion yuan by 2028, while the jewelry market is significantly larger, estimated at 778.8 billion yuan in 2024 [2]. Group 2: Product Launch and Strategy - Popop's gold series includes products like gold beads and pendants, priced between 980 yuan and 6,800 yuan, catering to various consumer budgets [2]. - The pricing strategy for Popop's products is based on a "one-price" model, which may limit price-sensitive consumers' willingness to purchase [3]. Group 3: Competitive Landscape - Popop's average price per gram for gold products is approximately 25% higher than that of traditional brands like Lao Pu Gold, which may affect its market competitiveness [3]. - Industry experts express mixed opinions on Popop's pricing strategy, with some suggesting it could deter price-sensitive buyers, while others believe it could leverage the rising gold prices to gain market traction [3]. Group 4: Industry Trends and Future Outlook - The jewelry market presents significant growth potential, with a focus on cross-industry collaborations and IP partnerships to create popular products [5]. - Pop Mart's entry into the gold jewelry sector aligns with the trend of younger consumers, particularly those born in the '90s and '00s, becoming the main demographic for gold purchases [6]. - The company has been actively expanding its global presence, opening several flagship stores in 2025, indicating a commitment to enhancing customer experience [7].