Chinese millennials’ craze for toys spawns multimillion-dollar industry in blind boxes

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When C.C.

Sun first heard in 2019 about so-called blind box toys, collectible figures in mystery packaging, the 32-year-old engineer from Tianjin mocked her colleague for playing with children’s stuff.

Buyers of blind boxes do not know which figurine they will get until they unpack them. Some may get the thrill of winning sought-after characters, some may be frustrated with ones they already have. Getting the desired piece to complete a collection depends entirely on luck, or perhaps on the amount of money spent.

The concept that is becoming wildly popular in China has similarities to Japan’s Gashapon vending machines from 60 years ago, which dispensed capsule toys. China’s toymakers are betting on the country’s 500 million millennials and members of generation Z, who are flush with disposable income and willing to spend on such indulgences.

On Tmall, some 200,000 consumers traded blind boxes on the site, spending 20,000 yuan each on average, according to a report issued in 2019 by the online platform. The collection of figurines has overtaken trendy trainers and video games as the most popular hobby among consumers born after 1995, the report added.

The fever has spread to other areas. Museums, coffee brewer Starbucks, convenience store FamilyMart and even e-commerce giant Tencent Holdings have either offered their own blind box toys or collaborated with toymakers to harness the rising consumption power.

 

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