On December 11, the first Bubble Mart of Blind Box was listed on the main board of the Stock Exchange. The news caused quite a stir, and some people laughed and said, "Bubble Mart's success has my contribution. 'Someone's Surprised' What is Bubble Mart? Why can he succeed, but not just in need? '
The value of trendy play has never been practicality, and it is not appropriate to consider whether it is just needed in terms of function. Based on Maslow's model , in the context of overcapacity and consumption upgrades, most consumers have stepped beyond survival needs and turned to pay for higher-level emotional/experience needs. Such as watching movies, playing escape rooms, playing games, etc.
So how did Bubble Mart stand out? That depends on the value generated by Bubble Mart.
1. For users
1. Market environment
Looking at the toys and gifts on the market, except for children's toys that are suitable for the age, there are too few choices for teenagers and young people. From the age screening of treasures, toys over 12 years old are concentrated in Lego, models, dolls, etc. These toys usually reflect value by function and are large in size, suitable for festive gifts but not suitable for daily purchases.
2. User needs
At present, the society is in a stage of rapid development, and the production capacity has been excessive, which means that the labor force is excessive. Therefore, the pressure of competition is also great. Everyone is not only competing for professional ability, but also for being a human being and emotional intelligence. In order to better show themselves, they usually hide their emotions very deeply, and try to package themselves as stable, reliable and even well-rounded professionals.
Affected by the growth environment, education, and psychology, everyone's ability to withstand stress is also different. A small number of strong people can digest it by themselves, but more of them are weak people who are firm on the outside and soft on the inside, and have nowhere to vent their emotions. Therefore, the more satisfied the material needs, the more empty the spiritual life, and emotional consumption arises spontaneously.
'Spiritual food' is not only needed during the festive season, but comes with daily emotions. The blind box can precisely meet the daily mental and emotional needs of users anytime, anywhere. When you are happy, draw a blind box for recreation; when you are sad, draw a blind box for comfort; when you are angry, draw a blind box to vent.
So far, I have a bold idea. Vulnerable groups are the target users of the blind box, and Bubble Mart can tap more potential users through fancy stress tests.
Why is the blind box suitable for daily emotional consumption? Then we must find the answer from its characteristics. The blind box has the following characteristics: lightweight, convenient, inflow, and cool.
Lightweight: The blind box can be held in one hand, easy to play and easy to buy/carry at any time.
Convenience : Users can choose to draw boxes online or offline. [Offline box drawing] A physical box drawing machine that can be seen anywhere, drawing a box is as simple as buying a bottle of beverage. [Online box drawing] The box drawing machine applet can experience the fun of box drawing at any time.
Inflow: Blind boxes are mostly bundled with popular IPs, following the trend. The blind box is to follow the trend, which makes good use of the user's herd mentality.
Cool: The robot arm can see the whole process of drawing the box to take the blind box, and the experience is very full; the small program of the box-drawing machine shakes, the prompt card, the display card and other different gameplays increase the fun of drawing the box; in addition, each type of blind box There are low-probability hidden models, allowing users to have full of surprise expectations.
Second, for companies
The material cost of the blind box is low, and a single blind box generally does not exceed 10 yuan. The main fixed costs are IP licensing and mold country email list opening costs. Therefore, the more a blind box is sold, the lower the cost and the higher the profit margin.
From the perspective of selling more, the sales model of blind boxes is a natural advantage. When users decide to buy, they already have the target style in mind. However, a series of blind boxes can range from 7 models to as many as 14 models (including hidden models), and the probability of buying the target model at one time is extremely low. If the user wants to buy the target model, either the entire series is full box end, or the same series of blind boxes are repeatedly drawn.
In addition, the blind box makes good use of the gambler's psychology in human nature. Usually, everyone thinks that it is very good. After stepping on the thunder for many times, you should also draw popular/hidden models. In fact, not only does this fail to change the probability of drawing a certain blind box, but it makes users addicted to drawing blind boxes.
Therefore, once you start to buy blind boxes, there will usually be multiple repurchase behaviors, which will result in a repurchase rate of 58% for Bubble Mart in 2019 and an operating income of 1.683 billion yuan. And as the number of users grows, this number will continue to climb.