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Labubu, is the iconic IP character of THE MONSTERS series, created by artist Kasing Lung and launched by Pop Mart. Featuring long ears, jagged teeth, and a design that is quirky yet adorable, it defies traditional aesthetics and has rapidly gained popularity among young people.
The Leap from marginal position IP to revenue powerhouse
- The Monsters series Revenue
（in hundred mil. yuan） - Overseas market
Revenue
- % to total revenue
Hunger Marketing and Scarcity Economy
Physical limit
The first batch of new product release is usually limited to only 100 to 200 units, in order to create a 'sold-out instantly' sales
Mental limit
The probability of drawing a hidd en item is only 1.39% (approximat ely 1 in 72), which further incentiv izes repeated purchases by consu mers.
Time & space limit
Launch region-specific editions (such as Thailand Exclusive) or exclusive sale at pop-up stores.
Brand Limited Edition
Co-named editions with brands like Vans and Disney often launch limited release in surprise official announcements.
Emotional Consumption: The Social Currency of Gen Z
- Important purchasing considerations for
post-00s consumers（%）
Labubu has hit right on the pain point of Gen Z’s emotional needs. Its “ugly-cute” design blends rebellion and cuteness, becoming a visual symbol for young people to express their attitude of “anti-involution”.Neuroscience research shows that the “uncertain reward” mechanism in blind box triggers dopamine release, creating a sense of pleasure similar to gambling.Labubu cleverly leverages this physiological mechanism, turning its products into a hybrid of “emotional carrier + social currency”, fulfilling contemporary youth’s dual needs for identity recognition and social belonging.