Pop Mart, Secondary Market, Consumer behavior, Brand image
Abstract
The blind box economy, as an emerging consumer phenomenon, capitalizes on the sense of surprise and anticipation driven by uncertainty. Pop Mart, a leading brand in this sector, has successfully attracted a vast consumer base through its unique design style and a wide range of co-branding strategies with various intellectual properties (IPs). The distinct sales mechanism of blind boxes has further fostered the development of a secondary trading market. This study focuses on the primary groups involved in Pop Mart’s secondary market by conducting surveys and interviews. Surveys were administered to a sample of buyers aged 16-30, aiming to capture their purchasing behaviors and motivations. In addition, interviews with senior trendsetters were conducted to explore the influence of the booming secondary market on consumer speculation and its impact. The analysis of the survey and interview data reveals that the consumers opt to buy “open box” items directly from the secondary market, the secondary market offers a form of speculation that differs from the primary market. This approach not only provides consumers with a wider range of choices but also offers the brand greater opportunities for consumer engagement and increased visibility. For trendsetters, their participation in the secondary market often act as brand ambassadors, enhancing brand value and extending product promotion within the secondary market. The operation of Pop Mart’s secondary market presents valuable insights for the future promotion and expansion of the brand. Moreover, it offers an effective reference model for other brands with similar business models.
