Ref: IMD-7-2303

Case study

Reference: IMD-7-2303

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Pop Mart: Lego or Disney?

In June 2020, Pop Mart, a 10-year history Chinese trendy toy company achieved market value of US$15 billion, higher than LEGO or Hasbro. Pop Mart toys are not traditional; they are not for kids but for Generation Z. It’s business model uses innovative ways to sell trendy toys. It combines designer toys and blind boxes to provide the feeling of excitement and surprise, uses hidden models, which creates a sense of scarcity and appeals to consumers’ desire to own, and implements a tiered pricing structure to cater to the multi-level needs of its Generation Z consumers. Pop Mart’s dream is to become a Chinese toy company most like Disney.

Learning Objective

  • Lessons draw from Pop Mart for businesses targeting Gen Z
  • Identifying emotional stimuli and satisfying emotional needs
  • Artists and IP assets are core for competitiveness
  • Approaching consumers in digital ways.
Keywords Innovation, Pricing Strategy, Retail, Strategy, Toy
Settings Asia, China
Pop Mart, Toys and Games
Type Published Sources
Copyright ©IMD 2021
Language English
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Reference: IMD-7-2303

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Case study

Reference: IMD-7-2303

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