A man and a woman check a blind box in front of a PopMart vending machine in Shanghai, December 23, 2020. [Photo/IC]
China’s Gen Z consumers are increasingly drawn to products that offer emotional value, such as popular blind box toys, the South China Morning Post reported on Sunday.
In its recent earnings update, China’s trendy toy retailer Popmart reported impressive third-quarter sales growth of an estimated 120 to 125 percent, a figure that analysts said “beat market expectations.” It far exceeded that.” The company’s popularity highlights the huge appeal of blind box collectibles, which resonates with millions of young fans across China.
China’s Generation Z (approximately 280 million people in total, born between 1996 and 2012) stands out as a powerful demographic driving this popular trend. Analysts observe that these consumers are increasingly likely to invest in products that have little practical value but contribute significantly to their psychological well-being.
According to an early report in Economic Daily, the China Consumers Association released the “2023 Annual Report on Consumer Rights Protection” in May, stating that in 2024, the emotional value will continue to be young, beyond mere cost-effectiveness. He said that this has been shown to influence consumer decision-making. This factor could become a new point of consumption in the future.
“They live and work at a fast pace and under high pressure, so they have high emotional needs,” the report said, citing Mo Daiqing, senior analyst at the China Electronic Commerce Research Center. states.
