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【China】The Emotional Economy Behind the Labubu Boom

  • Release date: Jan 21, 2026
  • Update date: Jan 21, 2026
  • 109 Views

Labubu, a character popular among young people. We introduce the consumer behavior behind its boom in China.

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Image source: https://huaban.com/pins/5964259197
(The images in this document are sourced from the internet)

Labubu is a popular character from THE MONSTERS series IP, created by artist Kasing Lung and launched by Pop Mart. Its long ears, jagged teeth, and quirky yet adorable design break away from traditional aesthetics and have rapidly gained popularity among young people.

目次

1. Leap from Edge IP to Core Revenue Stream

According to the data, Labubu's THE MONSTERS series IP achieved remarkable growth between 2022 and 2024. Labubu's commercial value is also demonstrated by its revenue growth rate.

The Monsters Series Revenue (RMB 100 million) / Overseas Market Revenue / Percentage of Total Operating Revenue

2. Hungry Marketing and Scarcity Economics

Marketing strategies that drive popularity for Labubu include “physical exclusivity,” “psychological exclusivity,” “temporal exclusivity,” and “brand exclusivity.”

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Physical Limited Edition
New releases are typically limited to 100-200 units initially,
creating an instant sell-out effect that drives hot sales.

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Psychological Limited Edition
The winning probability for limited edition items is a mere 1.39% (approximately 1 in 72). This further stimulates consumers' desire for repeat purchases.

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Time-limited*1
Launch area-exclusive items (e.g., Thailand-exclusive) or conduct exclusive sales at pop-up stores.

*1 Limited-edition items released by Chinese doll clothing manufacturer “STT Time-Space” during specific periods.

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Brand-exclusive
Collaborative editions with brands like Vans and Disney are often released in limited quantities via sudden announcements in official releases.
* Image source: https://huaban.com
(Images in this material are sourced from the internet)

3. Emotional Consumption*2: Generation Z's Social Currency*3

Here, we analyze why Labubu is popular among young people.

Data shows that when making purchases, young consumers place greater emphasis on products and services that provide psychological satisfaction and emotional value over practicality and cost-effectiveness.

*2 Consumer behavior that prioritizes emotional satisfaction and healing over mere practicality
*3 Information and content voluntarily shared and disseminated to enhance one's image or satisfy the desire for recognition

Post-00s Consumers' Key Purchase Considerations (%)

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Image source: https://huaban.com (This image is sourced from the internet)

Labubu hits the sweet spot for Gen Z's emotional needs. Its quirky yet adorable design blends rebellion with conformity, becoming a visual symbol for young people's anti-involution*4 attitude. Neuroscience research shows that blind boxes' uncertainty-driven reward mechanism stimulates dopamine release, creating a gambling-like thrill. Labubu skillfully leverages this physiological mechanism, transforming its products into a hybrid of [motion media + social currency]. This satisfies Gen Z's dual needs for identity recognition and social belonging.

*4 Measures to Curb China's Overproduction

This article is a translation of an article by Intage China using an AI translation tool.

  • Intage Inc

    Author profile
    Intage China

    ***

  • Intage Inc

    Editor profile
    Chew Fong-Tat

    Malaysian researcher who has lived in Japan for 14 years and has handled many surveys on ASEAN countries.

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