Analysis of the POP MART LABUBU Product Premium Phenomenon: A Case Study Based on Behavioral Finance

Abstract

As one of the pioneers and leaders of China’s trendy toy (trendy play) industry, POP MART focuses on the design, production, and sales of trendy play products. Its core positioning is the leader of trendy toy brands, focusing on the “blind box economy” and satisfying consumers’ psychological stimulation through mechanisms such as “drawing cards” and “unboxing”. According to statistics, among the post-95 consumer group, nearly 200,000 people spend more than 20,000 yuan each year on blind boxes, further proving the popularity of the blind box economy. This study takes the premium phenomenon of Pop Mart’s Labubu series of trendy toys in the second-hand market as the starting point. It combines with the rapid growth of the trendy toy industry in recent years to conduct a deep analysis of its product design features, fan ecology, and market operation logic. By analyzing Labubu’s sales mechanism, Intellectual Property operation strategy, and consumer psychological motivation, it reveals the supply and demand contradictions, cultural symbol value, and second-hand market ecology behind its premium, thus providing a typical case and theoretical support for understanding the premium mechanism in the blind box economy.