Pop Mart (9992) has reportedly conducted large-scale restocking of its popular Labubu toy series, leading to a sharp drop of nearly 40 percent in resale prices on Chinese second-hand trading platforms, according to mainland media.
On Qiandao, a secondary market for designer toys, the average resale price of certain Labubu figures – including its rare version – fell by 10 percent over the past three days due to the increased official supply.
In addition, Jiemian News reported that Pop Mart launched its first-ever online presale for the Labubu 3.0 soft vinyl plush line on Wednesday evening, with shipping now scheduled as far out as September, reflecting strong demand.
Data from resale platforms showed that the average transaction price for the rare edition Labubu figure, originally priced at 99 yuan (HK$108.11), plunged from 4,607.40 yuan on Sunday to 2,851.40 yuan on Tuesday – an almost 40 percent drop.
Meanwhile, The Paper reported that Pop Mart's official mini-program on WeChat sent multiple restocking alerts on Wednesday, though users often encountered issues accessing the purchase page.
Some buyers noted that the volume and frequency of restocking seemed significantly higher than previous rounds, intensifying competition for the figures, the report said.
Previously, due to high demand and limited availability, some users on the secondhand platform GooFish even began offering Labubu figures for rent, targeting scenarios such as photography, social media posts, and wedding displays. Listings with search terms like “Labubu rental” show daily rental prices for the “Labubu 1.0 – Time to Chill” starting at 30 yuan, while figures like ZIMOMO range from 50 to 80 yuan per day.
Sellers typically require a minimum three-day rental and a 2,000 yuan deposit, and buyers must cover return shipping. Deposits may be fully forfeited in cases of damage or substitution.
According to Xianyu, search volume for Labubu-related products in June has surged tenfold from May, while rental transaction volumes have doubled.
Pop Mart shares fell 5.3 percent to HK$248.60 on Wednesday.
STAFF REPORTER
