Diving into the blind box culture in China and beyond

If you walk through the malls in China, Thailand and other parts of Asia, you will often find eager customers gathered around displays, excited to purchase their very own blind boxes.

This article will give you a detailed background about blind boxes: The origins, economic and cultural value, as well as some of the recent developments that you should know about the emerging blind box culture in China and beyond.

How it all began with Pop Mart

The story of blind boxes can be traced back to 2016, and the famous global lifestyle brand, Pop Mart, featured its debut of the famous Molly series blind boxes in China.

The release became a massive success. From its “surprise factor” and the collectible value that it entails, blind boxes send a global cultural wave that one has never seen before.

Costing from 50 to 100 CNY per blind box, they have amassed a loyal customer base. After Pop Mart’s initial success, more IP collaboration and designer toys can be seen. Pop Mart alone has featured over 100 different IPs, including a few massive IPs such as Disney, Marvel, Harry Potter and Sesame Street.

The growth has moderated these days, but the wave of blind boxes has never stopped since. It is indeed a “solid vision made reality” story by Pop Mart.

An exciting economic opportunity

When it comes to blind boxes, the research article by Equal Ocean made an interesting remark on its ecosystem, citing the ecosystem as an “economic moat”.

The rise of blind boxes became a great economic opportunity, citing an exponential 11x boost in revenue, and an even stronger 14.5x increase in net income, by Pop Mart during the years of 2017 to 2019.

Currently, Pop Mart has a wide coverage of retail stores and roboshops nationally in Tier-1 and Tier-2 cities in China, and rapid expansion to different parts of Asia. In 2023, they launched a first permanent store in Paris, France, marking a significant entry into the European markets to share the excitement of blind boxes.

However, with great opportunity also means more competition. Emerging players such as the Kawaii Box, Funko (famous for its Pop! figures) and 52Toys also entered the market, featuring unique IPs and distinct offerings that they have acquired.

The “mystery value” of blind boxes

At the core of the blind box experience comes to the “mystery value” that these blind boxes can provide like no other. For example, the idea of not knowing what’s inside each box can create a thrilling anticipation for the customers.

Blind boxes are also not for kids only. According to the article by BrandTrends, Pop Mart’s blind boxes are highly popular across consumers aged 15 to 35 years old, and make up most of the brand’s customer base. It reflects the cross-generational appeal that blind boxes uniquely have that not many other toys have.

The artistic value and collectability also appeals to customers. It also explains why consumers are coming back again and again for new releases, and fans can also share about their experience on social media, showcasing their collections or engage in trades that allow them to have extra satisfaction upon collecting a full set of blind boxes.