Subject category:
Strategy and General Management
Published by:
International Institute for Management Development (IMD)
Version: 14.09.2021
Length: 7 pages
Data source: Published sources
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Abstract
In June 2020, Pop Mart, a 10-year history Chinese trendy toy company achieved market value of USD15 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.
Time period
The events covered by this case took place in 2010-2021.Geographical setting
Region:
Asia
Country:
China
Featured company
Pop Mart International
Turnover:
USD 390 million
Industry:
Retail
About
Abstract
In June 2020, Pop Mart, a 10-year history Chinese trendy toy company achieved market value of USD15 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.
Settings
Time period
The events covered by this case took place in 2010-2021.Geographical setting
Region:
Asia
Country:
China
Featured company
Pop Mart International
Turnover:
USD 390 million
Industry:
Retail