Have Seasians ever wondered what's behind those mysterious boxes filled with adorable figures?
Curiosity aside, the exciting moment of opening them is also part of the experience of getting a rare favorite character from these Pop Mart products.
Pop Mart fandom has transformed into a culture that has gone beyond simply entertainment for children.
The long queues, the frenzy of hunting for limited editions that sell out in minutes, and the questions that lie behind them, have made the Pop Mart market more appealing to consumers, gaining global attention, including in Southeast Asia.
Want to know how Pop Mart is shaping the landscape of the collectible toys industry?
Stay tuned, Seasians!
Pop Mart Isn't Just a Toy
The toy industry has experienced significant growth and now toys are not just a means of entertainment for children.
The Toys Movement phenomenon is strong enough for Pop Mart to become not only a plaything, but also a collectible object that is highly valued by adult collectors. Pop Mart offers a unique appeal and is more than just a toy.
This Chinese product has been widely recognized as a design toy and is sold in a blind box. These limited edition design toys are created based on artists' illustrations, so it's no surprise that the price is higher than conventional toys.
Pop Mart is rapidly increasing in popularity around the world, including in Southeast Asia, which is a potential market. The products offered range from blind boxes, action figures, ball-jointed dolls (BJDs), to various accessories.
Pop Mart has not only succeeded in attracting customers' interest and loyalty, but also set new standards in the industry and created the phenomenon of Chinese "popular toy culture" in the global arena.
Pop Mart's Marketing Strategy
The marketing strategy implemented by Pop Mart uses impulse buying tactics to attract consumers, capitalizing on the psychology of strong desire for certain goods, so that consumers tend to make spontaneous purchases without planning.
This marketing approach influences consumers through emotional factors, making them ignore consequences where this is usually caused by physical proximity to the desired product.
The Fear of Missing Out (FOMO) also contributes to consumers' drive to purchase these Pop Mart products.
In addition, the scarcity strategy plays an important role in increasing demand for these products and creating a perception of exclusivity in the eyes of consumers.
Cooperation between the company and artists is also an effective method in increasing the aesthetic value and exclusivity of Pop Mart products.
Labubu, created by Kasing Lung, is one of the most popular Pop Mart items today. 'Labubu's' unique design and strong narrative make it attractive to collectors of these design toys.
The Labubu story was introduced in a children's book, where the character ‘The Monster’ was transformed into a collectible toy. This collaboration successfully created Labubu as a Pop Mart product that became a must-have item for collectors and spawned a new trend.
Renewed with a blind box strategy and sold in limited editions that focus on the element of surprise, it generates great appeal to curiosity about the product, builds enthusiasm, and gives a sense of satisfaction to every person who owns it.
Read also: Tokyo Pop Up Mask Store Lures Shoppers with Festive Face Coverings
Pop Mart's Growth in Southeast Asia
Pop Mart's popularity has increased significantly. According to Asian retail website data, revenue from the international market for Pop Mart's version of the Labubu collection reached US$1.9 billion (RMB13.5 billion), which accounted for 29.7% of its total sales in the first half of 2024.
Justin Moon, President of Pop Mart, revealed that they will collaborate with global designers and localize products by integrating cultural elements to enhance the appeal of their collections in the Asia-Pacific region.
Pop Mart's market in Southeast Asia is increasingly striking. This move shows that Pop Mart's marketing strategy in the region is effective and solidifies their position as a pioneer in the design toy industry.
In Indonesia, Pop Mart's global growth is becoming clearer with the opening of its first store in Gandaria City, Jakarta in July 2024.
Pop Mart's global trend was further strengthened when Lisa BLACKPINK posted a photo of a Pop Mart Labubu toy on Instagram, which caught the attention of international audiences, especially in Asia, including Thailand, which began to expand to other countries such as Indonesia, Viet Nam, Malaysia, Singapore, and other Asian regions.
Lisa's posts caused Labubu sales to soar, which prompted Pop Mart to open the Pop Mart Concept Store in Mega Bangna, Bangkok, Thailand which became their first store outside of China and the largest in Southeast Asia with a luxurious design, combining elements of luxury, convenience, and freshness.
Pop Mart retail now has 450 stores worldwide, with its newest store launching in Ho Chi Minh City, Viet Nam in October 2024.
Pop Mart's successful presence in Southeast Asia continues to show a larger pattern in the region. The artistry, collectible appeal and narrative of the products create a strong sense of excitement and character building that goes beyond just toys.
Pop Mart is more than just a toy, it has become part of a lifestyle and a lucrative investment that provides significant value to its owners.
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