Core Viewpoint - Labubu has significantly increased its restocking efforts, leading to improved availability of products, although some popular items remain out of stock both online and offline [1][2]. Group 1: Restocking Efforts - Labubu's restocking frequency has noticeably increased, with notifications of new arrivals frequently appearing in store communities [1][2]. - During the New Year period, a large-scale restocking was conducted by Pop Mart, resulting in consumers successfully purchasing the Labubu heart password series [2]. - Despite the increased restocking, certain Labubu series products, such as the front high-energy series and heart password series, remain sold out in both physical and online stores [1][2]. Group 2: Consumer Demand and Market Dynamics - Consumer enthusiasm for purchasing older Labubu products remains high, indicating a persistent demand gap between supply and demand [2]. - The transition from online-only purchases to allowing in-store purchases reflects a shift in sales strategy, aimed at improving consumer access to products [2]. - The secondary market prices for Labubu products have significantly adjusted downward, indicating that the brand is regaining pricing power and moving towards a healthier market environment [3].

Core Viewpoint - The Labubu series products from Pop Mart are still experiencing stock shortages in popular shopping areas like Sanlitun and He Shenghui, despite improved availability compared to previous times [1][3]. Group 1: Product Availability - Many Labubu products, particularly the "Frontline High Energy" and "Heart Code" series, remain out of stock in both physical and online stores, indicating a persistent demand-supply gap [3][4]. - A significant restock occurred during the New Year period, but products sold out quickly, highlighting the ongoing high consumer interest [3][4]. Group 2: Consumer Behavior - Consumers are increasingly utilizing fan communities to receive real-time restock notifications, which enhances their chances of purchasing desired items [3]. - The purchasing enthusiasm for older Labubu products remains strong, suggesting that demand continues to outpace supply [4]. Group 3: Market Dynamics - The recent changes in restocking frequency and sales rules reflect a strategic shift by Pop Mart to combat scalpers and stabilize the secondary market, which had seen inflated prices due to high demand [4]. - Since June, Pop Mart has implemented large-scale restocking efforts aimed at curbing scalper activities and promoting a healthier market environment, which has led to a noticeable decrease in secondary market prices [4].