Core Viewpoint - The article highlights the emergence of a new entrepreneurial group in Yiwu, known as "Wu Piao," primarily composed of Generation Z individuals who are actively contributing to the Yiwu China Commodity Index through practical business endeavors [3][4]. Group 1: Entrepreneurial Spirit in Yiwu - Yiwu has become a hub for young entrepreneurs, with many seeking to start their own businesses, explore e-commerce on social media platforms, or engage in cross-border trade [4][6]. - The entrepreneurial culture in Yiwu is deeply rooted, with many young people having familial ties to the local market, which fosters a natural inclination towards business from a young age [11][12]. - The city has seen a significant increase in entrepreneurial activity, with Yiwu becoming the first county-level city in Zhejiang to surpass 1 million market entities by 2023 [26]. Group 2: The Role of Live Streaming and E-commerce - Live streaming has emerged as a popular and accessible business model for new entrepreneurs in Yiwu, allowing them to sell products directly from stores without the need for inventory [17][19]. - The article notes that many young people initially attracted to live streaming have since left the industry, indicating a high turnover rate among new entrants [22]. - Successful live streaming can lead to substantial income, with one participant reportedly earning 1 million yuan through e-commerce [17]. Group 3: Community and Support Systems - The article emphasizes the importance of community support, with many young entrepreneurs forming groups to share knowledge and resources, such as the "study tour groups" organized by local entrepreneurs [24][26]. - There is a notable presence of women in the entrepreneurial landscape of Yiwu, with many female business owners actively engaging in learning and adapting to new technologies [26][27]. - The cultural ethos of Yiwu encourages a proactive approach to business, where individuals focus on practical solutions rather than academic credentials [29].

Core Insights - Yiwu has become a hub for the Z generation, with many young entrepreneurs, referred to as "Wu Piao," contributing to the Yiwu China Commodity Index through practical efforts rather than theoretical discussions [1][2] - The rise of new industries in Yiwu is driven by the increasing interest in entrepreneurship, e-commerce, and cross-border trade among young people [1][2] Group 1: Yiwu's Entrepreneurial Landscape - Yiwu has seen a significant influx of young entrepreneurs, many of whom are exploring various business opportunities, including e-commerce and social media platforms [1][2] - The city has become a breeding ground for small businesses, with a notable statistic indicating that approximately one in every two residents is a business owner, highlighting the entrepreneurial density [16][19] - The concept of "walk-broadcasting" has gained popularity, allowing new entrepreneurs to engage in live-streaming sales with minimal barriers to entry, making it an attractive option for those starting from scratch [9][11] Group 2: Personal Stories and Experiences - The journey of a local entrepreneur, who transitioned from a corporate job to running a family business and leading entrepreneurial study groups, illustrates the practical approach to business in Yiwu [2][3][4] - The entrepreneur's background in various fields, such as travel media and content marketing, has equipped her with skills that are beneficial for her current ventures [7][9] - The success of her live-streaming efforts, including selling over 1,000 products in a single session, showcases the potential for rapid growth in this business model [11][13] Group 3: Community and Cultural Aspects - Yiwu's entrepreneurial culture is deeply rooted in its history, with many young people having familial ties to the local market, fostering a sense of community and continuity in business practices [4][6] - The presence of female entrepreneurs, often referred to as "boss ladies," plays a crucial role in the local economy, with many actively engaging in learning and adapting to new technologies [16][17] - The spirit of Yiwu is characterized by a proactive and open-minded approach to business, attracting young people who are eager to innovate and capitalize on opportunities [19][20]

Group 1 - LABUBU has transformed from an underperforming IP to a trending fashion item, gaining significant popularity both domestically and internationally, especially after collaborations and social media exposure [1][3][6] - The recent LABUBU 3.0 series has seen severe shortages in official channels, with second-hand market prices soaring, indicating high demand and consumer interest [3][6] - LABUBU's rise has positively impacted the stock price of Pop Mart and expanded its recognition in overseas markets, showcasing the power of successful IP in driving business growth [6][41] Group 2 - The phenomenon of "counterfeit LABUBU" has emerged, with demand for these products exceeding supply, highlighting the brand's popularity and the challenges of pricing in the market [7][20][21] - The trend of customizing LABUBU dolls has gained traction among consumers, allowing them to express individuality and creativity, further enhancing brand loyalty [22][24][26] - The surge in demand for LABUBU-related products, including custom outfits and accessories, has revitalized small businesses and created new economic opportunities, indicating a thriving derivative economy [30][33][41]

Core Insights - The young consumer power is increasingly evident in the toy and trendy toy market, with explosive growth in sales and a significant number of merchants achieving high sales milestones during the Tmall 618 event [1][4][12] Market Performance - As of June 12, 2023, the Tmall toy and trendy toy industry saw six merchants surpassing 100 million yuan in sales, nearly 100 merchants exceeding 10 million yuan, and 16 products breaking the 10 million yuan mark [1] - The industry experienced a three-digit year-on-year growth for over 2,400 Tmall trendy toy stores, with the number of merchants surpassing last year's 618 event [1][4] Market Share and Growth - Tmall's trendy toy market holds a dominant 70% market share, nearly three times that of the second competitor, indicating a strong competitive position [4][6] - The category of blind boxes, figurines, and related products saw a staggering 71.5% growth year-on-year in May 2023 [4] Consumer Trends - The "Guzi" (domestic trendy toys) market is outpacing the "Rizi" (Japanese trendy toys) market in both transaction volume and growth rate, with a significant increase in overseas orders [7][8] - The EDC (Every Day Carry) toy category has surpassed 150 million yuan in sales, with a notable increase in male consumer engagement [9][12] Product Launches and Sales - Tmall introduced approximately 20,000 new products from around 2,000 IPs during the 618 event, with several stores achieving over 10 million yuan in sales on launch day [7][8] - The "LABUBU" brand saw significant interest, with related searches exceeding 500,000 and sales surpassing 1 million yuan in May 2023 [10] Cultural Impact - The popularity of domestic IPs is driving sales growth, with a notable increase in transactions for products related to films and celebrities [8] - The Tmall platform is recognized as the leading platform for trendy toys, influencing brand strategies across the industry [12]