""For brands in the mid- to high-end segment, especially those looking to expand overseas, they need to set their sights on the US market early on and go all in," he said to CNBC. "The US remains the most important market with the greatest spending power and cultural influence," he added. Pop Mart, a Chinese toy manufacturer behind the viral doll Labubu, expanded to the US in 2023, opening its first brick-and-mortar store in New Jersey's American Dream mall."
"He said that Pop Mart had tapped into the trend of younger consumers buying things that make them feel connected and emotionally fulfilled. "Pop Mart's appeal lies in its design and its presence in intimate spaces, on desks or bedside tables, offering a sense of companionship and familiarity that deepens over time," he said to CNBC. He sits on Pop Mart's board of directors."
Chinese mid- to high-end consumer brands seeking international success should target the US market early and commit fully to expansion. The US offers the greatest spending power and cultural influence, making it a priority for overseas growth. Pop Mart expanded to the US in 2023, opening a store in New Jersey's American Dream mall and reporting 41 stores as of June 30, with its stock rising about 353% over the past year. Pop Mart appeals to younger consumers through design and presence in intimate personal spaces, offering a sense of companionship. Several large Chinese companies have expanded into the US across industries using aggressive marketing, low prices, and promotional tactics, with Luckin Coffee opening outlets in New York City.
Read at Business Insider
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