The domestic blind box market is in a depression, and TikTok blind boxes are in a mess.
The popularity of blind boxes has promoted the birth of the "blind box economy". According to the development of bubble Mart, one of the benchmarks of the blind box toy market, in recent years, it can reflect the general situation of the domestic blind box market to a certain extent. According to the financial report of Bubble Mart, the net profit of Bubble Mart in 2021 reached 855 million yuan, while the net profit of Bubble Mart in 2022 was 476 million yuan, down 44.3% year-on-year.
The hot scene of a new IP series of bubble mart appearing, and queuing up to buy it has become a thing of the past. At the same time, the speed of opening offline stores in China has also slowed down. The former glory cannot be reproduced, and the domestic blind box market is saturated, and it seems that it is already in the state of "sunset west mountain".
Unlike the blind box market that has calmed down in China, the development of the blind box market abroad is in full swing. Bubble Mart's financial report for the first quarter of 2023 shows that in the past two years, Bubble Mart has also opened a number of offline stores in the UK, the United States, France, Australia and other countries, and the scene was once very enthusiastic, and there were many queues to buy it.
Blind boxes are all the rage on TikTok
The popularity of blind boxes abroad can also be fully demonstrated on TikTok. In 2022, blind boxes are very popular on TikTok, and so far, the blind box craze has not disappeared with the passage of time.
As the famous saying in the movie "Forrest Gump": "Life is like a box of all kinds of chocolates, you never know what the next piece will taste." The fun of blind boxes lies in this, making full use of people's curiosity, desire to collect, and competitive desire for scarce, limited, and hidden models.
When consuming blind boxes, there are two completely different cool points. One kind of coolness is to obtain exquisite toys at a certain, uniform price to obtain psychological satisfaction, and the other is from unknown stimulation, unless the box is opened, no one can know which product is in the box. This mechanism is extremely addictive, a kind of unexpected joy under guaranteed control, and it is also a unique way for modern young people to decompress.
TT123 learned that as of now, labels, #surprisebox (surprise box), #mysterybox (mystery box) are another expression of blind box.
In addition to these hashtags about blind boxes, there are also some topics related around blind boxes, for example. As long as it is a hashtag related to the blind box, the number of views cannot be underestimated. It can be seen how popular blind boxes are on TikTok.
Image from TikTok
Compared with the blind box fever, TT123 learned that the more popular and attractive to TikTok users to watch is the blind box opening, such as. The public not only likes to buy blind boxes, but also enjoys videos of other bloggers opening blind boxes. Watching others unpack the box and buying a blind box yourself are two different psychological stimuli, the former is more decompressing than the latter. To another extent, after watching the unboxing video, users are also very prone to impulse shopping consumption psychology.
Image from TikTok
Everything can be blind box
It is reported that in order to make a name for itself abroad, Bubble Mart has opened joint cooperation with Disney, The Lord of the Rings, Harry Potter and other famous IPs, and sold a series of trendy games, which are widely popular in overseas markets. Recently, the cooperation between Bubble Mart and the famous Crocs "Crocodile Cave Shoes" has also set off a wave of sales overseas.
The blind box market is hot, and many brands see the business opportunities behind blind boxes, and have launched a variety of similar blind box forms such as lucky bags to participate in it. "Everything can be blind box", blind box is not limited to trendy toys, has become an important marketing model for many brands to win over the younger generation of consumers, and gradually to the public.
Many luxury brands have also put down their cold bodies and launched blind boxes to attract the attention of young consumers. Chanel Chanel has launched a blind box set priced at 6,000 yuan, and Dior has also launched a Christmas commemorative blind box. Under the banner of limited edition blind boxes, these brands have attracted a wave of attention, arguably winning the widest attention with the least expensive marketing. Although the products in its blind box have been criticized by consumers, this has not affected the enthusiasm of the younger generation to buy luxury blind boxes.
Heat is a platform focused on luxury blind boxes, with nearly 12w followers on TikTok. There are many luxury goods that partner with Heat to sell their own out-of-season products. For consumers, this is a very cost-effective thing, you can buy luxury items that were once out of reach at the best price, and you can also enjoy the fun of opening blind boxes. For luxury brands,.
Image from TikTok
At the same time, TT123 found that many sellers on TikTok reverse sell products in the form of blind boxes. Bloggers @edjvntge shoot and create videos of unpacking blind boxes under the banner of "Creators of the Vintage Mystery Box". Most of the blind box videos of @edjvntge are some clothing and various fashion items, and they reverse sell their products by unboxing. Up to now, @edjvntge has 66W fans and received a total of 1120W likes.
Image from TikTok
Write at the end
For sellers, from the perspective of domestic experience, in the context of the general downturn of the market economy, the passion of blind boxes will gradually fade one day sooner or later, and what can survive is more the expression of the story behind the blind box, and consumers prefer the personalized expression of the product.
Cute and curious are external expressions, good looks may encourage temporary sales, but in the long run, whether it is trendy toys, cosmetics, clothing and other products, it is very important to turn the product story into a story, and creating a story culture that belongs to your own brand is more conducive to the long-term development of the brand.
After the sales of products increase, sellers may wish to consider creating their own brand culture.
Editor ✎: Ten Degrees/AMZ123
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