Riding the Pop Mart wave

Macau tourism authorities are focused on harnessing the appeal of Pop Mart, a hugely popular Chinese IP collectibles brand, to attract more visitors to various parts of the city.

While the brand’s success both locally and internationally is widely acknowledged, analysts note that the full extent of its impact on the local SME economy has yet to be assessed

Nelson Moura

A series of gremlin-looking “toys” have suddenly become ubiquitous in China and Macau. In fact, almost everywhere. More impressive even, will be the fact that the company that produces these collectibles has raked in 1.8 billion U.S. dollars in annual revenue in 2024, a 107 per cent increase from the previous year. The name is Pop Mart, a Beijing-based IP Chinese brand, and the Labubu, a toothy, fluffy figurine with sharp teeth and a mischievous grin created by Kasing Lung, an artist from Hong Kong.

Originally introduced in 2015 as part of a children’s book series titled The Monsters, Labubu gained wider recognition in 2019 when it was transformed into a collectible designer toy through a partnership with Pop Mart.To date, over 300 Labubu variations have been released, with the collection accounting for nearly US$400 million of that revenue. The character is just one of many that Pop Mart has developed as collectibles commonly sold in “blind boxes”, a popular format where buyers do not know in advance which variant they will receive, adding elements of surprise and, some may say, gambling.

Jeffrey Towson, a China-based consultant and keynote speaker on digital growth and customer innovation, also reiterated to Macau Business that Pop Mart is “riding the wave of an entirely new Asian consumer phenomenon”.“They combined fan-like behaviour for cute toys with a bit of gambling behaviour.

“The engine of Pop Mart’s success has been a few popular characters sold in sets of blind boxes. That is three different consumer phenomena combined: fan behavior for toys, collector behavior, and gaming/gambling behavior” – Jeffrey Towson

Going global, staying trendy

The engine of Pop Mart’s success has been a few popular characters sold in sets of blind boxes. That is three different consumer phenomena combined: fan behaviour for toys, collector behaviour, and gaming/gambling behaviour,” he described.
For the consultant, Pop Mart has had huge success in China, but the question now is how successful it will be internationally.
“Will it become globally popular, like Blackpink and Squid Game? An Asian trend that went global? Or will it remain an Asian consumer phenomenon? We’re going to find out this year,” he concluded.
Pop Mart has now become China’s most popular IP brand, not just within the country but abroad, in an area mostly dominated by European, US, and Japanese companies.

Since rolling out its globalisation roadmap in 2018, Pop Mart’s business footprint has expanded to encompass nearly 100 countries and regions worldwide.It now has over 500 stores in 30+ countries and regions, more than 2,300 ROBOSHOPs, and operates across multiple cross-border e-commerce platforms, reaching consumers in over 80 countries.Just in 2024, Pop Mart opened its first brick-and-mortar outlets in Vietnam, Indonesia, the Philippines, Italy, and Spain, while establishing a presence in several iconic locations worldwide, including inside the Louvre in Paris, France, on Oxford Street in London, UK, and at Sun World Ba Na Hills in Da Nang, Vietnam.And Macau, of course, is on the target list.

Pop Mart is a very well-known IP, popular all over the world […] the brand has many resources in its worldwide fan base, and we hope it can create some buzz about Macau and the different elements of the city. When people come to see it, they also visit different areas of the city and see different elements” – MGTO Director Helena de Senna Fernandes

Taking the streets

In a partnership with MGTO, Pop Mart’s characters were integrated with different local culinary themes, with multiple snap spots to be set up at Senado Square, Calçada da Igreja de São Lázaro, Camões Garden, Largo de Santo Agostinho, and a sitting-out area on Rua do Pai Kok in Taipa.The activities will run from Friday to 21 September, spanning 108 days, with the event launched at 2:30 p.m. today at the sitting-out area on Rua do Pai Kok.


During the event period, tourists and residents alike can participate in a lucky draw by making a single purchase of at least MOP100 (US$12) at any Macau business using designated payment platforms (Mpay, Alipay, True Money, Touch ‘n Go eWallet). Winners will have the chance to receive “exclusive” event gifts.
In a similar initiative, the Macau government recently launched a Hello Kitty-themed bus service, as part of the “Flora Fête with Sanrio characters” installation-display campaign, aiming to boost the northern district’s community economy.


The bus route, comprising six stops, runs across the peninsula’s northern district, where members of the public can take a free ride after making an appointment.
“Pop Mart is a very well-known IP, popular all over the world […] the brand has many resources in its worldwide fan base, and we hope it can create some buzz about Macau and the different elements of the city. When people come to see it, they also visit different areas of the city and see different elements,” Macao Government Tourism Office (MGTO) Director Maria Helena de Senna Fernandes told Macau Business at the event opening.


Fernandes noted that although some of the featured areas are already popular tourism spots in Macau, areas such as Camões Garden and Largo de Santo Agostinho are less “visited spots” which can benefit from the event.
“I think it can bring some foot traffic to these areas, which have very pleasant characteristics that can be unknown to many tourists visiting the city,” the MGTO Director added.

Creative local touch


One of the recipes for Pop Mart’s success has been its partnerships with localised designers and brands, to create unique collections for different target countries and regions.
The SAR is no exception, with a local designer, Sanchia Lau, developing a Molly Macau limited edition, the local version of another popular Pop Mart collection.


“Pop Mart took the world by storm through its addictive blind box mechanics—like the strategic probability of hidden editions—and emotionally engaging IP like LABUBU’s therapeutic charm,” says Lau, who is also chairperson of the Macau Art and Brand Crossover Association. “It perfectly aligns with the younger generation’s pursuit of emotional value and social identity.”


Lau’s own cross-disciplinary work follows a similar philosophy, integrating art into everyday life through sculptural fashion bags, wishing dolls, and locally inspired designs. “By fostering emotional connections through IP and cultural crossovers, I aim to convey a healing aesthetic,” she explains. “To me, life itself is an art gallery.”
Both approaches, she notes, rely on emotive design—whether through Pop Mart’s collectible appeal or her own wearable artistry—and thrive on cultural resonance. “It’s about the localisation of global trends and the reinvention of Macau’s heritage,” Lau says. “At their core, these creative strategies fuse emotional value with identity affirmation.”

For Fan Tingting, educator at the marketing area of the Business School of the University of Hong Kong, the tourism industry can learn from the success of Pop Mart since in some way “tourism can be considered as IP business. “A popular tourist site needs to be promoted heavily to attract people. It also needs maintenance and innovations to sustain. Pop Mart […] devotes a lot of efforts, from IP discovery, IP developing, to IP marketing, IP monetization, to IP innovations. This ecosystem contributes to its huge success, and it is also the outcome of huge investment.”

“It’s about the localization of global trends and the reinvention of Macau’s heritage. “At their core, these creative strategies fuse emotional value with identity affirmation” – Sanchia Lau, local designer

Cost–benefit

Still, Macau’s IP-themed initiatives, termed “punch-card economy” or Daka, a term that describes a tourism industry driven by the need to copy social media behaviours or trends, have also faced criticism regarding their cost-effectiveness and benefits for local businesses.

A recent research report from the Collective Wisdom Policy Centre (CWPC) highlights a polarised post-pandemic recovery for small- and medium-sized enterprises (SMEs) in Macau. While businesses in tourist areas are thriving due to returning visitors, those in residential neighbourhoods are seeing revenue drops of over 50 per cent. This disparity has led to a proposal to transform Taipa Old Village into a commercial zone.
The report, titled “Assisting Local SMEs in Improving the Business Environment”, emphasises the challenges faced by local SMEs, including rising operating costs, changes in tourist consumption patterns, and high online marketing expenses.

Although SME profitability improved last year, significant structural imbalances remain. Despite generating revenue exceeding pre-Covid-19 levels, many SMEs are unable to recover from past financial losses. Last year, 1,098 companies dissolved, marking a 24 per cent increase from 2019.

So the question remains. Can IP-themed initiatives really drive consumption in local SMEs? Lawmaker Ron Lam, for example, scrutinised the government’s “Flora Fête with Sanrio characters” and “Pop Mart Macao City Walk” projects, questioning their impact on community consumption.

The Economic and Technological Development Bureau (DSEDT) spent MOP18.87 million on the Flora Fête, while the MGTO allocated HKD8 million for the Pop Mart initiative. Despite a total investment of MOP26.87 million, Lam doubted that it supports SMEs or stimulates local economies. He noted in a written inquiry that neither project partners with local merchants nor provides incentives like discounts. Instead, they focus on lucky draws and IP-themed installations, which merchants believe do not promote consumption effectively.
“Why do the two campaigns overlap, and why is the content of the activities so similar? The authorities must explain how they’ll ensure public funds achieve measurable results, and that findings of leveraging IP-driven events will be disclosed,” Lam stated.

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