"Essentially, it's appealing because it's trendy, and trendy because it seems like something 'everybody' ─ at least in the target market's circle of influence ─ wants," said Joey Khong, a trends manager at market research firm Mintel.
"Toys hold nostalgic value, offering comfort in an unpredictable world while also serving as affordable luxuries in a time of reduced disposable income due to rising costs," she said.
Grace Lee recalls her initial thoughts on Labubu as ugly but later began collecting them after receiving one as a gift, underscoring its transformative appeal.
Labubu, designed for adults, fulfills a need for emotional comfort and connection, becoming a trendy collectible amidst difficult economic times.
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