How Can Ordinary People Make Money from the Explosive Labubu Trend?

Overview of the Labubu Economy

What is the Labubu Economy?

Labubu, a super IP under Pop Mart, has evolved into a complete commercial ecosystem. From blind boxes originally priced at 99 RMB to hidden editions fetching over 3,000 RMB in the secondary market, and from simple doll clothing customization to complex doll modification services, the Labubu economy is creating astonishing wealth opportunities.

Market Size and Potential

Global Trendy Toy Market Size: Projected to reach $50 billion by 2025
Labubu IP Value: Accounts for nearly 30% of Pop Mart's revenue
Secondary Market Premium: Hidden editions can reach 20-30 times the original price
Peripheral and Derivative Market: Annual growth rate exceeds 150%

How Will "Small Luxury" Trendy Toys Fare in an Economic Downturn Cycle?

Key Terms: Low Price Point-High Emotional Value, Lipstick Effect, Regulatory Disruption, Risk of Overcapacity, IP Diversification and Global Expansion

1. Historical Mirror: Small-Ticket Emotional Consumption vs. Macroeconomic Downturn

Period	Macroeconomic Context	Performance of Similar Categories	Outcome
2001 – 2003	US Recession + 9/11	Lipstick sales rose against the trend, Lauder proposed the "Lipstick Index"	Proved small luxuries can hedge against downturns
2008 – 2010	Global Financial Crisis	Japanese Gachapon, Korean cosmetics exports grew	Low unit price + high emotional value created a substitution effect
2020 – 2022	Pandemic Lockdowns	Pop Mart revenue grew from 1.83B to 4.6B RMB	Driven by home-bound healing needs + blind box mechanics
2023 – 2024	Weak Chinese Consumption (Negative CPI, CCI < 90)	Pop Mart 2024 revenue 13B RMB, +107% YoY	"Low investment, high healing" outperformed high-priced luxury
Funko's Precedent	2022 – 2023 North American Inventory Correction	Over-distribution → One-time destruction of $30M inventory, stock price halved	Supply loss of control + IP slowdown easily leads to a peak

Insights:

In the early stages of a recession, the "lipstick effect" allows low-price-point emotional goods to outperform the broader market.
In later recession stages, if income pressure persists, supply expands, or regulation tightens, bubbles are prone to burst.

2. 2025-2027: Three Potential Phases for Labubu and Other Trendy Toys

Phase	Key Drivers	Potential Phenomena	Investor Focus
① Emotional Dividend (Ongoing)	Novelty + Social Media Virality	Store queues, secondary market premiums 3-5x; HK stock price up 6x annually	Trend investing, short-term arbitrage still has room
② Regulation & Divergence (6-24 months)	Chinese authorities have flagged "blind box addiction"	New rules: Restrictions on minors, disclosure requirements, amplified stock price volatility	Monitor compliance costs, inventory turnover
③ Overcapacity Inflection Point (Expected 2026-2027)	IP Homogenization + Capacity Expansion	Funko-style inventory correction price pressure, hidden edition premiums decline	Focus on cash flow & globalization capability, pick the strong, avoid the weak

3. "Cheap Happiness" Resilient Short-Term, Long-Term Depends on Operations and Discipline

Short-term (1-2 years): Leveraging emotional value and low price points, trendy toys like Labubu are likely to continue outperforming traditional high-priced discretionary consumption.
Medium-term: Regulatory clarity and IP over-exploitation will bring high volatility; companies with diversified IP portfolios and increasing overseas revenue share will prevail.
Long-term: If replicating Funko's "overcapacity + channel saturation," premiums will be compressed, and the industry will enter a stock game; true winners will be those excelling in IP innovation, global operations, and fan ecosystems.

One-sentence summary: In a consumption downturn cycle, trendy toys are the gem of the "lipstick effect," but they can never escape the shadow of the "fashion effect" — they take off on emotion first, only to be dragged back down by oversupply.

Core Money-Making Models

1. Hoarding Hidden/Limited Editions for Resale 💎

Core Logic: Pop Mart's blind boxes are driven by the "chase for hidden editions" to drive repurchases. Secondary market premiums can reach 3-5 times the official price, with certain collaborations (e.g., Art Basel limited Labubu) selling out on the first day.

Dimension	Explanation
Entry Barrier	Mainland China original price 59-89 RMB/box; limited editions often launch at offline pop-ups or overseas first, requiring travel + purchasing skills
Expected Return	Ordinary hidden edition premium 100-300%, super hidden/collaborations can reach up to 5-10x; but cycles are short, prices fall quickly
Main Risks	① Accelerated supply: Over 300 Labubu designs released this year, new releases dilute premiums ② Counterfeits & blind box tampering scams ③ Regulation: Mainland authorities have flagged blind boxes for potentially inducing gambling-like consumption in minors
Reliability Score	⭐⭐⭐ (Relies on information asymmetry, suitable for short-term plays)
Suitable For	Novice collectors sensitive to trendy toy trends, able to sell quickly, with idle cash

Success Cases:

Original price 99 RMB, hidden edition resale price soared to 3000+ RMB
Collaboration editions: Vans collaboration original price 599 RMB, resold for 14,800+ RMB
Professional scalpers earn 30,000+ RMB daily from "selling full case sets"

2. Cross-border "Buyer" Purchasing Agent 🌍

Core Logic: Overseas stores (Paris, Seoul, Los Angeles, etc.) often have purchase limits or suspend sales due to queues. Local buyers can profit from price differences + service fees.

Dimension	Explanation
Entry Barrier	Connections + channels for travel abroad/studying abroad/purchasing agent; flexible inventory capital
Expected Return	Single-item agent fee 15-35%, hot items + exchange rate difference can reach 50%+
Main Risks	① Customs clearance / taxes ② Unsold inventory ③ Exchange rate fluctuations ④ Limits on quantity for personal import
Reliability Score	⭐⭐⭐⭐ (Earns hard money, but cash flow is positive)
Suitable For	Those residing overseas or working as overseas purchasing agents, looking to add Labubu to their product portfolio

Advantages of Overseas Purchasing Agent:

Price difference: Domestic factory price 13.5 RMB → Abroad $20 USD
Exchange rate difference: Profit from exchange rate fluctuations
Scarcity: Overseas limited editions command premiums domestically

3. Buying POP MART (HK 9992) Stock 📈

Core Logic: Labubu has propelled the company's market cap to $4 billion. The stock price hit a historical high of HK$275 in mid-June before correcting to around HK$252.

Dimension	Explanation
Entry Barrier	HK stock brokerage account, minimum 1 lot (100 shares) approx. HK$25,000
Expected Return	If Labubu's popularity continues + overseas expansion succeeds, there is still medium-term growth potential; but high growth expectations are already priced in
Main Risks	① Single IP dependency (Labubu accounts for nearly 30% of revenue) ② Gross margin pressured by forex + store expansion costs ③ Precedent of A-share blind box sentiment cooling
Reliability Score	⭐⭐⭐ (A high-volatility growth stock)
Suitable For	Trendy toy enthusiasts/growth stock investors who can tolerate 30-40% drawdowns and are bullish on long-term globalization

Valuation Perspective

Metric	Latest Value	Industry Average	Explanation
Stock Price (June 27 Close)	HK$ 257.80	—	Year-to-date +620%
Market Cap	HK$ 342B	—	Approx. US$ 44B
P/E (TTM)	≈ 101×	Consumer Goods 16×	Significant emotional premium
Forward P/E	≈ 46×	—	Price rise > earnings growth, needs to deliver on overseas expansion
Target Price (Analyst Avg.)	HK$ 246.0	—	4.6% below current price, divergence increasing
Dividend Yield	0.35%	Low	Cash mostly used for store expansion

Investment Risk Warning

High Valuation = High Volatility:

As long as Labubu's popularity persists and overseas stores succeed, valuation can be maintained.
If single IP growth slows or regulation tightens (restricting minors from blind boxes), P/E could revert to the 40–50 range, with a potential 20–30% stock price drawdown.

Investment Risk Warning:

High Valuation = High Volatility: As long as Labubu's popularity persists and overseas stores succeed, valuation can be maintained; if single IP growth slows or regulation tightens (restricting minors from blind boxes), P/E could revert to the 40–50 range, with a potential 20–30% stock price drawdown.
Monitoring Points: ① Same-store sales growth <20% YoY; ② Labubu revenue share >30% and new IPs underperform; ③ Inventory turnover days >90 days.

4. Labubu Cryptocurrency / NFT 🪙

Core Logic: Meme tokens like "LABUBU SOL" on Solana have daily trading volumes exceeding tens of millions of USD, but have no official connection with Pop Mart; Pop Mart is also experimenting with official NFT series.

Dimension	Description
Entry Barrier	Requires a crypto wallet + exchange/DEX; low barrier
Expected Return	Meme coins can multiply in the short term but may also go to zero; official NFT secondary market price 0.2-1 ETH
Main Risks	① No copyright endorsement, prone to lawsuits or Rug Pulls ② Instant liquidity changes ③ Policy (high pressure in both China and the US)
Reliability Score	⭐⭐ (Highly volatile speculative product)
Suitable For	Players who can accept total loss and are familiar with DeFi risks

5. Peripheral Merchandise Sales 🛍️

Core Logic: Utilize the Labubu IP to create various types of peripheral products.

Doll Clothing & Accessories

Dust-proof Protective Case: Cost 5 RMB, selling price 20-30 RMB
Doll Clothing Set: Cost 10 RMB, selling price 30-50 RMB
Accessory Glasses: Cost a few jiao (dimes), selling price 10 RMB (Profit margin 500%)

Car Accessories

Air Vent Doll Seat: Cost 9.9 RMB, selling price 20-30 RMB
Car Storage Box: Cost 15 RMB, selling price 35-50 RMB

Yiwu Merchant Case:

Daily sales of over a thousand orders
Printing Labubu elements leads to explosive orders
Profit margins generally exceed 300%

6. Custom Doll Artist Services 🎨

Core Logic: Transform ordinary Labubu dolls into unique artworks.

Project	Price Range	Market Demand	Technical Barrier
Basic Customization	200-500 RMB	Very High	Medium
Advanced Customization	500-1000 RMB	High	High
Limited Edition Customization	1000-3000 RMB	Medium	Very High

Success Cases:

One custom artist's order backlog extends 3 months
US market prefers diamond-studded styles
Domestic market prefers custom doll clothing

7. Live-streaming E-commerce Model 📱

Core Logic: Funneling traffic through content creation, monetize through private-domain channels.

Operation Process:

Live-stream unboxing + reviews
Direct traffic to private-domain channels (WeChat/QQ groups)
Sell peripheral products
Establish a repurchase mechanism

Success Data:

One streamer's single-day profit exceeded 5000+ RMB
Private-domain channel conversion rate can reach 15-20%
Repurchase rate exceeds 60%

Overview Quick Reference Table (More ★ = More "Appealing")

Track	Capital Barrier	Profit Potential	Risk	Reliability	Recommendation Index
Hoard Hidden Editions	Low-Medium	★★★★	★★★★	★★★	★★☆
Buyer/Proxy Shopping	Low-Medium	★★★	★★	★★★★	★★★★
Pop Mart HK Stock	Medium	★★★	★★★	★★★	★★★
Labubu Coin/NFT	Ultra Low	★★★★★	★★★★★	★★	★★
Peripheral Merchandise	Low	★★-★★★	★★	★★★★	★★★★
Custom Doll Services	Low-Medium	★★★-★★★★	★★	★★★★	★★★★
Live-streaming E-commerce	Low	★★-★★★	★★	★★★★	★★★★

Friendly Reminder: Trendy toys are essentially entertainment and cultural consumption, characterized by strong cyclicality and heavy emotional drivers. The above is for informational sharing only and does not constitute investment advice. Please enter cautiously based on your own risk tolerance and liquidity needs.

The Truth is Here

Is making money really that easy? Let's look at the sharing from those who have actually done it; it's still very realistic.

To Make Money, You Need to Satisfy 3 Things Simultaneously

Foresight + Foundation + Execution

Element	Interpretation	Self-Check Question
Foresight	"The duck knows first when the river warms in spring" — positioning yourself when the trend just starts	In which month did you start following Labubu?
Foundation	Have traffic → go find supply; have supply → go find traffic; or directly master the methodology	Which end advantage do you possess?
Execution	Speed is alpha: being faster than others in pre-ordering new products, claiming airdrops, and queuing for goods	Can you update daily, grab daily, and settle daily?

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Conclusion: Don't Just Envy the "Earned a Porsche" Stories

Labubu has indeed opened a window for ordinary people to "earn the spread," but each track comes with risks of inventory, regulation, traffic, or total loss. Without an information edge + fast execution, even the best trend is just "someone else's story."

Disclaimer: This article is a compilation of public information and does not constitute investment advice of any form. Trendy toys, secondary markets, and crypto assets are all high-risk. Please make independent decisions based on your own risk tolerance.

Reference Sources

Pop Mart Global Official Website — Official website of the Labubu IP copyright holder, a primary source for understanding official release prices, series, and store information.
Pop Mart Hong Kong Website — Pop Mart (HK Stock 9992) official site for the international market, useful for comparing overseas limited editions and release dynamics.