In June 2020, Pop Mart, a 10-year history Chinese trendy toy company achieved market value of US$15 billion, higher than LEGO or Hasbro. Pop Mart toys are not traditional; they are not for kids but for Generation Z. It’s business model uses innovative ways to sell trendy toys. It combines designer toys and blind boxes to provide the feeling of excitement and surprise, uses hidden models, which creates a sense of scarcity and appeals to consumers’ desire to own, and implements a tiered pricing structure to cater to the multi-level needs of its Generation Z consumers. Pop Mart’s dream is to become a Chinese toy company most like Disney.
- Lessons draw from Pop Mart for businesses targeting Gen Z
- Identifying emotional stimuli and satisfying emotional needs
- Artists and IP assets are core for competitiveness
- Approaching consumers in digital ways.
Pop Mart, Consumer Services, Retail
IMD retains all proprietary interests in its case studies and notes. Without prior written permission, IMD cases and notes may not be reproduced, used, translated, included in books or other publications, distributed in any form or by any means, stored in a database or in other retrieval systems. For additional copyright information related to case studies, please contact Case Services.
Research Information & Knowledge Hub for additional information on IMD publications