China's blind box craze… The inside story on this unique MULTI-BILLION RMB market
“I didn’t initially see the appeal in these…but after I bought my first toy at the start of the year, I found the box-opening process so exciting. Even if you don’t get the one you want, you’ll later want to buy more. You’re not actually buying a product, you’re buying a surprise.”
1. China’s blindbox industry is booming, and the market size is about to exceed 30 BILLION
The market in China is expected to double by 2024, reaching 30 billion RMB.
2. The market is still at an early stage… Pop Mart leads the way
The industry leader Pop Mart currently only has an 8.5% share of the highly competitive market.
3. White-collar women and Generation Z university students make up the majority of consumers
The core consumers of blind boxes are female white-collar workers and Gen Z college students in first-tier cities.
4. Blind box-related economy is rising, and the men’s blind box market is yet to be explored
Short videos on the blind box unboxing experience have become popular, and blind box related professions such as “改娃师” have emerged. Male consumers are the next potential untapped market.