Earn in Billions: Blind Boxes Is the Key to Pop-Mart’s Success
Pop Mart’s growth took a meteoric leap with the introduction of “Blind Box” sales. Its market value briefly exceeded 15 billion USD. Today, we won’t delve into discussing the long-term viability of this commercial approach; we’ll focus solely on how to create game-changing Blind Boxes.
“Blind Box” is the game-changer for Pop Mart. In 2016, Pop Mart revolutionized its sales model by introducing Blind Boxes, making Molly a top social media influencer. From 2017 to 2019, Pop Mart invested heavily in expanding offline stores and self-service vending machines, not only turning losses into profits but also achieving a staggering 200% revenue growth. When the company went public in late 2020, its market value briefly exceeded 15 billion USD).
Blind boxes are also known as mini-figures or mystery boxes. These are small boxes with identical outer packaging but different figurines or merchandise inside. They are called “blind” because buyers can’t see what’s inside until they open the box.
The success of Pop Mart hinges on the fusion of blind boxes with subculture trendy toys, and this success can be boiled down to a simple formula: Create Mystery + Shape Scarcity + Attach Meaning.
Creating Mystery:
The crux of blind boxes lies in the “blind” element, constantly evoking a sense of mystery, appealing to the thrill of uncertainty, and building anticipation. For example, when Fanta collaborated with Pop Mart to create the “Fanta + Molly blind box,” the box didn’t reveal the product upon opening but instead concealed white cardboard. Removing the cardboard revealed a different flavor of Fanta or a hidden Molly Fanta.
While creating a sense of mystery, it’s crucial to set a clear, enticing goal for users and provide ample motivation. However, don’t overwhelm them with too much unknown, as excessive uncertainty can deter customers from participating in your marketing “game.” When Fanta introduced the blind box, it explicitly mentioned the Molly collaboration and displayed the image of the Molly can, leaving the mystery as to who would win it.
Shaping Scarcity: Rare Editions and the Gambler’s Fallacy
This significantly boosts repurchases. All blind boxes contain hidden or rare editions. While limited editions increase the challenge of acquisition, they also enhance the perceived value of the blind box intellectual property (IP). Luxury brands widely utilize this concept.
Blind boxes, through creating scarcity, trap players in what’s known as the gambler’s fallacy, which makes them believe that with each unsuccessful attempt, the likelihood of winning next time increases, thus fostering anticipation for the next round. Unlike regular lottery events where participants’ expectations peak at the moment of the draw, blind box collecting is a dynamic process with accumulating effects. Each IP continuously introduces new design series, motivating players to invest time, money, and psychological anticipation, cultivating emotional attachment.
Attaching Meaning: The Enjoyment and Collectability of Trendy Toys
Trendy toys, also known as designer toys, art toys, or designer toys, reflect the designer’s personal philosophy during the creative process. They contain creative content and conceptual depth, making them valuable adult collectibles. Blind boxes have brought these inherently enjoyable and creatively designed items into the mainstream market. Pop Mart’s blind box trendy toy products are the result of the interaction between subculture and a commercial model.
In the era of Generation Z, young people lack the time to engage with expansive IP universes. Life’s pace is too rapid. Pop Mart capitalizes on the fragmented time of young individuals, offering them an exciting form of entertainment through random blind box toy purchases, providing instant emotional excitement and satisfaction to the youth.
It’s important to note that trendy toy blind boxes may go in and out of fashion, but blind box marketing remains effective. If you’re interested in Pop Mart’s commercial, please feel free to comment and like. If there’s enough interest, I’ll make an update on Pop Mart’s commercial operation model and their trendy toys.
