Pop Mart plush product sector revenue accounts for 44.2% of revenue, becoming a new engine for revenue growth
In recent years, the trendy toy market has continued to heat up. As a leading company in the industry, Pop Mart has delivered a brilliant report card with its diversified product layout and IP operation capabilities. The latest data shows that the revenue share of Pop Mart plush product sector has reached 44.2%, becoming the core driving force for its revenue growth. This article will conduct a structured analysis of this phenomenon based on popular topics and hot topics throughout the network in the past 10 days.
1. Analysis of the revenue share of Pop Mart plush products
| Product sector | Revenue share (2023) | Year-on-year growth rate |
|---|---|---|
| Plush products | 44.2% | 68.5% |
| Blind box products | 32.7% | 15.3% |
| Figure model | 18.1% | 22.6% |
| other | 5.0% | 8.9% |
It can be seen from the data that the Pop Mart plush product sector not only accounts for nearly half of the market, but its growth rate is far beyond that of other categories. This phenomenon is hotly discussed on the Internet recently"Healing Economy"and"Emotional Value Consumption"The trend is highly consistent.
2. Three reasons why plush products are popular
1.Emotional companionship demand surges: Recently, the number of readings on topics such as "lonely economy" and "cloud pet raising" on social platforms has exceeded 1 billion, and consumers are more inclined to buy products that can provide emotional comfort. Pop Mart's IP plush series such as DIMOO and SKULLPANDA have accurately entered this market with their soft touch and cute design.
2.Product innovation and iteration accelerate: According to statistics, Pop Mart launched 127 new plush products in 2023, an increase of 45% over 2022. in"A plush doll who can make sound"The series' single video playback volume on Douyin exceeded 50 million, and related topics have become popular on Weibo.
3.Cross-border joint ignited topics: Recently, the pre-sale volume of joint models with LINE FRIENDS and Disney has exceeded one million, and the number of notes related to Xiaohongshu has increased by 210% month-on-month.
3. Industry horizontal comparison data
| brand | The proportion of plush products | Number of popular IPs | Unit customer price (yuan) |
|---|---|---|---|
| Pop Mart | 44.2% | 18 | 159-399 |
| 52TOYS | 28.5% | 9 | 99-299 |
| Twelve Buildings Culture | 36.7% | 7 | 89-259 |
4. Analysis of consumer portraits and purchasing behaviors
According to recent data from e-commerce platforms,
5. Forecast of future development trends
1.Technology empowers: The application of technologies such as AR interaction and intelligent sensing will become differentiated competition points. According to industry reports, 87% of Gen Z consumers are willing to pay a 30% premium for technology-based plush products.
2.Scene expansion: Extend from simple collectibles to practical scenarios such as car companionship and office decompression. According to Tmall data, the search volume of keyword "car plush" has increased by 340% monthly.
3.Sustainable Development: The use of environmentally friendly materials will become an important selling point. Recently, the number of readings on Weibo's #Green Trendy Toy# has exceeded 200 million, reflecting the improvement of consumers' environmental awareness.
Pop Mart CEO Wang Ning said in a recent earnings call: "The success of the plush product line has verified the correctness of the IP diversified development strategy, and will continue to increase investment in material innovation and functional research and development in the future." As the competition in the trendy toy market enters the deep waters, product structure optimization and breakthroughs in segmented fields will become the key to the continuous growth of the company.
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