More Than Just Toys: The Secret Behind Pop Mart's €804 Million Success

Pop Mart recent endorsement deal with Lisa (Blackpink) clearly displays their strategic move in the digital realm, effectively connecting with, engaging, and converting a broader audience. However, the most interesting part is the core pillar of their marketing strategy – THE BLIND BOX CULTURE. In stores, Pop Mart shoppers chooses from a selection of boxes, while they know the theme, they don’t know exactly which figure is inside.

The blind box craze is a fascinating phenomenon. The following factors likely contribute to the success of this marketing strategy:

1. The Thrill of the Unknown:

• Surprise and Delight: Opening a blind box triggers a rush of dopamine, like gambling, as people anticipate the unknown. It taps into a primal desire for discovery and surprise.
• Gamification: The element of chance turns shopping into an exciting game. Will you get the ultra-rare figure everyone wants? This keeps people coming back for more.

2. Collectability and Community:

• Desire for Completion: Blind boxes often come in series with varying levels of rarity. This fuels a collector's instinct to "catch them all," creating a sense of accomplishment.
• Social Currency and Connection: Trading figures, sharing unboxing videos, and discussing collections fosters a strong sense of community among enthusiasts. This shared passion strengthens brand loyalty.

3. Appealing to a Variety of Motivations:

• Affordable Indulgence: Blind boxes can be relatively inexpensive compared to other collectibles, offering an accessible way to participate in a trend.
• Display and Personalization: People enjoy showcasing their collections, reflecting their individual tastes and interests.

4. Clever Marketing and Branding:

• Strategic Collaborations: Partnering with popular IPs (like Sanrio or tokidoki) or celebrities (like Lisa from Blackpink) adds to the desirability and collectability. - Social Media Buzz: Unboxing videos and online communities amplify the hype and create FOMO (fear of missing out).

These four are all tap into human psychology, and it's important to acknowledge the potential downsides, such as the addictive nature of blind boxes and the ethical concerns around encouraging excessive consumption.

?“Pop Mart's revenue grew by 36.5% in 2023, reaching €804.6 million sales”