Labubu's Fading Popularity: From Craze to Cooling Down
Search Index '7' Remains After Peak Popularity
Labubu once enjoyed explosive popularity, endorsed by Blackpink's Lisa and Rosé, and even American pop star Rihanna on social media.
According to Naver Data Lab, Labubu's search volume peaked at '100' on July 9th but plummeted to '7' by October 24th.
Since the metric sets the day with the highest interest as 100, this drop signifies a decrease of over 90% in interest.
The popularity surged rapidly through social media, but the trend is now quickly fading.
From 1 million to 140,000 KRW… Resale Prices Also Plummet
Labubu's popularity is also declining sharply in the resale market.
In June, the 'Labubu Self-Portrait Keyring' soared to 1 million KRW on the resale platform Kream, but as of October 22nd, it had fallen to 140,000 KRW.
Other series are also seeing their bubble burst, with prices nearing or falling below official store prices.
Last year, during the peak of its popularity, celebrities like Lee Young-ji, BoA, and Yook Sung-jae of BTOB expressed their dismay at belatedly discovering they had purchased counterfeit products.
At one point, the market was so overheated that even distinguishing genuine products became difficult.
Norse Mythology & Blind Boxes: The Power of Concept and Design
Labubu is a character created by Hong Kong-based art toy artist Kasing Lung (53), inspired by Norse mythology.
It is characterized by its fluffy fur, rabbit ears, and nine teeth.
Since its initial release in 2019, it has been sold in 'blind boxes,' stimulating rarity and anticipation.
In South Korea, Lisa of Blackpink was seen with a Labubu attached to her luxury bag, which sparked significant interest.
The combination of rarity, celebrity endorsement, and social media spread is analyzed to have created a strong desire to purchase Labubu in a short period.
China's Frenzy and the '200 Million KRW Doll'
Labubu's popularity in China reached its peak when a 131cm Labubu doll was auctioned for 1.08 million yuan (approximately 200 million KRW) at the Yongle 2025 Spring Auction.
A total of 48 products, including this item, were sold for 700 million KRW, proving the intense fervor.
The new Pop Mart store in Hangzhou was forced to close early after all products sold out within two hours of opening.
Fueled by this success, Pop Mart's sales in the first half of the year are expected to increase by over 200% compared to the previous year, and its stock price surged nearly 40% in just one month, shaking up the investment market.
Cooling Pattern Similar to Hello Kitty?
However, the recent drop in resale prices and waning interest reinforce the analysis that 'the peak has passed.'
On the Chinese resale platform Qiandao, the 'Highlight Series Lucky Keyring' rose to 500 yuan (approximately 100,000 KRW) in June but has recently fallen to around 108 yuan (approximately 21,000 KRW).
Australian hedge fund Arnott Capital commented that Labubu's popularity “shows a similar cycle to Hello Kitty.”
Like Hello Kitty in the 1990s, it enjoyed immense popularity for a time but is ultimately showing a trend of gradually fading after a temporary craze.
In the end, Labubu is expected to remain an example that vividly illustrates the trends of social media-driven popularity and changes in consumer sentiment.
Source :https://blog.naver.com/plug_and_play_life/224054158849
No comments yet.
