Premium Mechanism and Consumer Behavior in the Figurine Collectibles Market

Abstract

Premiums are intricately tied to the fair value, transactions, and consumption of goods. The impact of premiums on goods is complex and far-reaching, influencing not only the goods themselves but also consumer perceptions, the competitive landscape, and the brand. Pop Mart, a globally leading trend culture entertainment company, has seen its limited edition IP - Labubu, gain immense popularity worldwide. Celebrities and influencers have showcased Labubu limited edition products in the media, leading to a frenzy of consumer purchases and resulting in supply shortages and premium pricing. The price of Labubu limited edition products has surged in the secondary market. This article analyzes and concludes the current factors contributing to the premium situation of Labubu limited edition products, including global economic depression, shifts in consumer psychology, and art creation collaborations. Finally, it delves into the psychological state of consumers behind the purchase of Labubu limited edition products based on these influencing factors.