NO.3 Bubble Mart brand marketing full case planning sharing

--202003090229 cold start recording the major brands and platforms of marketing cases Xi, and try to keep updated. Overall framework: Bubble Mart brand introduction Bubble Mart product strategy Bubble Mart specific location analysis Bubble Mart marketing analysis Bubble Mart differentiation method brand story Speaking of the blind box, with the "blind box" concept of the rise of the trend of the toy brand, Bubble Mart must have the name. The vast majority of consumers' first contact with blind boxes is through Bubble Mart. It can be said that in the blind box on this piece, bubble Mart is undoubtedly successful, was founded 11 years ago, with their own efforts to create a blind box trend. The market value was once all the way up, the highest more than 100 billion Hong Kong dollars, listed in Hong Kong is also known as "young people's Maotai", more in December 11, 2020 listed on the Hong Kong Stock Exchange, became "China's tide of the first play". Brand introduction: Founded in 2010, the company is China's leading trend culture and entertainment company. Over the past ten years, the company has been focusing on the five areas of global artist excavation, P incubation and operation, consumer reach, promotion of trendy toy culture, and investment and integration of related industries, aiming to build a comprehensive operation platform covering the whole industry chain of trendy toys with the brand culture of "Create Trend, Deliver Goodness". Brand Vision: To become a leading global trend culture and entertainment company. Brand concept: create trend, deliver beauty. tolightuppassionanrdbringjoy. emotional value: the blind box, open is the desire to collect and the expectation of surprise is not only the product, but also the entertainment experience and emotional experience brand vision: P design as the core, signing independent designers, to create its own IP image. Among them, the IP "Molly" and "Pucky" are out of the circle to create brand recognition. Briefly review the development history of Perfect Diary → In November 2010, the first Bubble Mart store opened in Beijing's Euromart Shopping Center. →In January 2015, Bubble Mart launched a new lifestyle concept flagship store in Wangfujing apm shopping center in Beijing. New POPCAF and product experience area was added to provide fans with shopping experience. → In June 2016, Bubble Mart signed a strategic cooperation with designer Kenny to develop a trendy toy belonging to fans - MollyZodiac constellation series of trendy dolls. → In June 2016, Bubble Mart was officially stationed in Tmall, and the trendy toy community e-commerce platform Pao Fun APP was officially launched. → In July 2016, Bubble Mart's first IP store was set up in Shanghai Grand Gateway 66 Plaza. → In April 2017, Bubble Mart launched a self-service sales terminal equipment robot store. → In September 2017, Bubble Mart organized the Beijing International Trendy Toy Fair, the first large-scale trendy toy exhibition in mainland China. → In April 2018, Bubble Mart organized the Shanghai International Trendy Toy Fair. →In November 2018, Bubble Mart won the first place in the Tmall modeling game category with sales of 27.86 million on Tmall's "Double Eleven". →In January 2019, Bubble Mart's first ARTTOY Black Label concept store opened in Beijing Qiaofu Fangcaodi Shopping Center. →In November 2019, Bubble Mart's sales on Tmall's "Double Eleven" were 82.52 million, winning the first place in the toys category on Tmall. →In May 2020, Bubble Mate's first national experience store opened in Beijing Pohang Center. →In September 2020, Bubble Mart's first overseas directly-managed store opened in Seoul, South Korea. →November 2020, Bubble Mart held the first Trendy Toy Industry Forum in Shanghai. →November 2020, Bubble Mart's total sales during Double Eleven exceeded 142 million, ranking first in Tmall's large toy industry and the first brand flagship store in Tmall's toy industry to enter the Double Eleven Billion Dollar Club. →January 2, 2022, Bubble Mart's first store in the UK was officially opened. → In March 2022, the US version of Bubble Mart APP was launched. → In June 2022, Bubble Mart's first U.S. flash store was officially opened in California's SouthCoastPlaza shopping center, which was Bubble Mart's first layout of offline channels in the United States. → On July 16, 2022, Bubble Mart opens its first store in Tokyo, Japan, located in a two-story single building on Shibuya Street. → On August 5, 2022, Bubble Mart officially launches the MEGA Collection 100% SPACEMOLLY Anniversary Collection. → On August 20, 2022, Bubble Mart opened its first store in Australia. Bubble Mart is now present in 23 overseas countries and regions, including Korea, Japan, the United States, Canada, the United Kingdom, Singapore, etc. The design, creativity and product quality of its IPs are recognized and loved by overseas consumers. Product StrategyProduct Layout: "Fixed Model + Hidden Model" Mode, Creating Surprises Beyond Expectations|Main Product: Blind Box--"Fixed Model + Hidden Model" Mode, Creating Surprises Beyond Expectations Fixed models: the entry model is basically 59 yuan, low price strategy to attract consumers to buy. Hidden models: premium ability, consumer sharing and gambling mentality to attract consumers to buy back. |Other categories: secondary peripherals, BJD dolls, IP derivatives - Netflix bubble machine, shoulder bags, hand puppet storage, cell phone cases, parking number plates, badges, bracelets, keychains, refrigerator stickers, creative lamps etc. Product Thinking: IP as the core, to create a hit- -Contracted to operate well-known trend art IP combined with young people's preferences for IP incubation, to achieve win-win business value *** There are 93 1P, including 12 own 1 + 25 exclusive IP + 56 non-exclusive IP: | Exclusive IP → e.g. PUCKY | TheMonsters | SATYRRORYetc. | Non-exclusive IP→e.g. Mickey Mouse|DespicableMe|HelloKittyetc.|Owned IP→e.g. MOLLYIDIMOO|BOBO&COCO|YUKIetc.|5 Head IP→MOLLY|DIMOO|TheMonsters|PUCKY|SkuIIpanda We create products with "reverse thinking" - thinking about "what users don't want" rather than "what users want", which stimulates the desire to buy and explore products. ①Strong original design capabilityBubble Mart, which was founded nearly 12 years ago, relied on IP agency in the early days of the brand. With the changes in market trends and user consumption habits, Bubble Mart's business model has changed its focus to independent development and design since 2015, and bought out designer Wang Xinming's Molly in 2016, starting a series of layouts ranging from design to marketing to retail channels and methods. With the changes in the development trend of the hip toy market, Bubble Mart has also changed from an original follower to a market leader, leading certain consumer trends. With the gradual expansion of the brand's influence, Bubble Mart's market channels and branding effects have become apparent, gathering more and more designers with original capabilities for the brand and accumulating core IP reserves for Bubble Mart. As early as June 30, 2020, Bubble Mart had operated 93 IPs, including 12 own IPs, 25 exclusive IPs and 56 non-exclusive IPs, and a steady stream of new products have been designed, putting Bubble Mart in a leading position in the industry. Among them, the revenue capacity of Bubble Mart's self-developed products is far ahead of others. The superb business coverage capacity forms Bubble Mart's industrial empire, giving it more confidence and market appeal in marketing. ②Use super IP to create social attributes of products IP licensing was originally one of the marketing tools. Bubble Mart through its own cute attributes and authorized IP cooperation, the launch of customized models of products, and the use of "hidden models" to attract the blind box enthusiasts, in the realization of the brand's fans flow, but also with the help of the authorized IP market influence to expand the product awareness and enhance product sales purposes, while taking full advantage of the advantages of bundled IP to create a social attribute of the brand characteristics. Once the brand has a social attribute, then the spread of the effect has become natural. Social attributes of the product, they have the ability to self-propagation, can help the brand to realize marketing fission, so that the co-branded products to break the consumer circle, increase brand awareness and exposure, the formation of a new round of dissemination of heat. ③ Hunger marketing to create a sense of scarcity, help the product to achieve a deal IP license cooperation, is conducive to focusing the attention of users, and know how to play hunger marketing to create a sense of scarcity of the product brand, always be able to give a kind of not to buy there is no illusion. Those "limited time" on the surface of the hunger marketing is easy to be recognized, but the sunk cost can always influence people to pay out of their own pockets in a subtle way. Bubble Mart's hunger marketing adopts the marketing strategy of scarcity, influencing users' consumption decisions through the model of "fixed + hidden", prompting users to make a one-time purchase in order to win the right to draw the lottery for the hidden model. As in Bubble Mart Molly's Westward Journey series, in addition to the 12 regular models, there is also a hidden model of Rudra, the hidden model in the Harry Potter series is Harry Potter riding a fire crossbow arrow, and the hidden model in the Mouse Tiny Trend Generation series is the Bullfighting Mouse Tiny, and so on, there is a hidden model that will impress you. Products that have been scarce are more attractive compared to those that are lacking due to market purchases. In addition, because the dolls come with a persona and emotional attributes, those who work hard in the city when facing loneliness, have a "talk" object, while the cute dolls themselves have healing qualities, so that Bubble Mart in the focus of the loneliness economy at the same time, the healing of the brand image to highlight, so that the brand itself is also more warm. Positioning Analysis Crowd Positioning: Generation Z, mostly female Consumer Income: 90% of the users have a monthly income of 8k-20k Consumer User City Distribution: Mainly located in Beijing, Shanghai, Guangzhou, Shenzhen Price Positioning: 80% to 90% of the products have a price range of 50-200 RMB. Causes of user demand: the value of consumer experience increases, gradually forming an addiction mechanism of the young generation of strong individuality, the rise of circle socialization, the emotional support of adults, accompanied by gradually endowed with the value of the collection of the era of art, the change in the structure of supply and demand, the catalyst for the market demand for Bubble Mart consumers are mainly distributed in the first-tier cities of Beijing and Shanghai, as well as in developed coastal cities such as Guangzhou, Shenzhen, etc., and 90% of the users' monthly income of $8,000-20,000, with higher education level. 90% of the users have a monthly income of 8,000~20,000 RMB, higher education level, more receptive to new things and multiculturalism; most of the consumers are female, aged between 18~24 years old, with an average age of 27 years old, and Generation Z (95-00) is the main force of consumption, which pays more attention to the spiritual experience of consumption, and pursues the personalized expression of different styles of trends. The blind box is set up as a "fixed + hidden models" model, to create surprises beyond the expected entry model is basically 59 yuan, low price strategy to attract consumers to buy, hidden models have a premium ability, consumer desire to share and gambling mentality to attract consumers to buy back. And the pricing of 59, 69, 99, most of the blind box in the 0-100 yuan between the blind box of non-functional attributes determine the unit price is difficult to increase, the gross margin is unlikely to increase significantly (but the mid-2020 gross margin has reached 65%). Therefore, to enhance the IP design itself premium, to take the snatch limited mode to enhance the revenue of high-end products marketing analysis channel strategy: multi-scene coverage, omni-channel sales. Distribution of stores: online stores: → Domestic: Tmall flagship store | Jingdong flagship store | bubble box machine | Pao Fun and other mainstream e-commerce platforms → Overseas: opened South Korea, Japan, Singapore, France's official website and Amazon U.S. station, respectively, to build a strong online channel for the expansion of the overseas market. Offline stores: → Store type: directly-managed stores | robot stores | unmanned stores | flash stores | store location: shopping malls | shopping centers | Grade A office buildings | subway | airports | high-speed rail station | five-star hotels, etc. | distribution features: | massive layout: offline directly-managed stores have exceeded 250, with more than 1,687 robot stores, in-depth coverage of the country's 103 cities (as of September 2021) (as of September 30, 2021) |Featured Cases: Creative Stores: Bubble Mart is stationed in Disney Town, using the "Bubble Mart Theater" as the inspiration for its design, which is not only limited to blind-box sales, but also creates a whole fairy tale theater around the four star product IPs, namely, Molly, Labubu, Dimoo, and Pucky, creating a scriptwriting area, rehearsal area, ticketing area, stage area, performance area, and a backstage area, and presenting a multi-faceted The theater presents a multi-faceted space for visitors to play and have fun. Marketing strategy: create "scarcity" and "mystery" to generate purchase drive: the shopping experience of the blind box is different from the traditional purchase of commodities, and the blind box marketing has stimulated the psychological needs of young people to take curiosity as the original driving force through the mode of "fixed models + hidden models". Scarcity will essentially create a sense of urgency to reach a more decisive and speedy purchase, and continue to stimulate the consumer's interest in purchasing, to achieve the marketing effect of continuous orders. Create social attributes to achieve marketing fission: → Official Social APP: Bubble Mart has independently developed the most professional social platform for trendy toys in China - BaQun, an online community focusing on creating trendy toys, aiming to provide trendy toy players with trendy toy information and shopping services, and to enable players to communicate with each other. At the same time, Baoqun provides a second-hand toy trading function, so that users have the opportunity to communicate with trendy toy designers. The APP now covers about 540 trendy toy brands, attracting many trendy toy designers to station and open columns, "turn baby" "change baby", "change baby" has become a new term in the trendy toy industry, which in turn creates a new way of playing with blind boxes. By creating such a trendy game gathering place, Bubble Mart has gathered a large number of trendy game enthusiasts and formed a strong and stable target user community. →Private social platform: the process of unlocking the blind box and the result of getting a satisfactory style continue to stimulate consumers' desire to share the blind box, and many consumers will share their favorite hand puppet on the social platform, realizing the socialization of the product experience, so that the product carries its own traffic and dissemination, which helps the brand to realize cash, and the company's profit to grow geometrically. → Entering overseas, global layout: It has been stationed in 23 overseas countries and regions, such as South Korea, Japan, the United States, Canada, the United Kingdom, Singapore, and so on. → Provide bulk group purchasing to promote the transaction of large orders: Bubble Mart is not confined to retailing, but also provides one-stop service for purchasing, providing employee holiday benefits, activity prizes, customer appreciation, gift inquiries for all major business units and organizations, as well as selecting suggestions and services such as packaging and delivery for different needs and scenarios. Bulk purchasing is mainly for the procurement of all institutions, group purchasing, governmental public **** department purchasing, and group ordering. Cross-border cooperation: → IP-MOLLY|Designer-KENNY: MOLLYxMOLLY: Co-branded "MOLLY House Special Edition Set of MOLLY House of MOLLY with MOLLY Cheese and Berry". MOLLYxMINGDAY'S CHILDREN: Co-branded "MOLLY Tomorrow's Children Limited Edition", which created a new situation for the cross-border variety show of the trendy game. MOLLYxSTAYREAL: MOLLYxIPSA: MOLLYxIPSA: MOLLYxIPSA co-branded a limited edition gift box set, and with the purchase of the set, you can get a "Bizarro World Handmade Gift Box" with MOLLY peripheral stickers and ten scene boards for DIY collage fun. →IP-DIMOO|Designer-AYAN:DIMOOxSHANGXIA:DIMOOxSHANGXIA cooperates with Hermes' high-end lifestyle brand "SHANGXIA", and launches a limited edition doll + co-branded tea set: Traveling Tea Gift Box Limited Edition | Tea Pet Gift Box Limited Edition | Checkers Tea Gift Box Limited Edition. DIMCOx Kiehl's KIEHL'S:| Co-branded Calendula Gift Set: Calendula Petal Encounter, which contains a DIMOO customized doll and ten bottles of Calendula Essence Toner. |DIMOOx Sephora: Co-branded 300 copies of the limited edition beauty double blind box set. DIMOO has become the exclusive ambassador of the "silk" family, with the "BeautyPrince" and "LoveAngel Gift Box Angel" dolls respectively. H?agen-Dazs: Co-branded the "DIMOO Constellation Collaboration Ice Cream" → IP-PUCKY|Designer Beech: PUCKYx Tangerine: Co-branded the super popular Beech's Elf Flight series of makeup products. →IP-SKULLPANDA|Designer-Bear Meow: SKULLPANDAxMakeUpForEver: Co-branded gift box containing micronized foundation air cushion, make-up bag, blind box of new products, creative tape and other products. →IP-Sweet Pea: Sweet Pea x 13DEMARZO: Co-branded "Sweet Pea" apparel collection. Sweet Pea x Estée Fran?ais: Co-branded skincare gift set. ①Targeting young users as the main crowdThe essence of product marketing is to find the right group of people, discover the characteristics of this group of people, use a product to attract them, and then deliver the characteristics of their products. The smartest thing about Bubble Mart is that it is accurate in cutting the psychology of the target user group - mainly young people, who are always interested in the "unknown game" of shaking the blind box. Bubble Mart's blind box economy captures these consumer psychology, completed in the minds of consumers, "grass", increased influence and dependence, greatly consolidating the existence of the tide of fun in the lives of young people. ② Attacking the user's psychological experience Bubble Mart to create a blind box can be popular in the market, or because it is full of unknown stimuli and open the blind box after the surprise, occupying the consumer's mind, make the purchase more interesting. In Bubble Mart's blind box marketing mechanism, there are four layers of surprise.1) The blind box itself is full of unknown surprises because users have no knowledge of the products in the blind box, the uncertainty of the blind box, so that the user has some kind of expectation during the transaction process, and once the answer to the blind box is revealed, it will be accompanied by the emotions of fulfillment, surprise, or loss, which pulls the user, a bit similar to the gambling mentality to make people more expectant of the unknown surprises of the blind box. 2) Bubble Mart's blind box is full of unknown surprises, but also because it is full of surprises. (2) "Fixed + Hidden" mode, creating surprises beyond expectations The reason why the blind box is popular is that the "hidden" brings surprises beyond expectations, once users find the "hidden" in the blind box that has the ability to pay a premium, the effect of that kind of surprises is a group effect. For those who get the "hidden model" blind box, firstly, the human weakness of showing off will drive them to share, and secondly, to attract more blind box enthusiasts to join in with the mentality of "gambling" in order to seek for the revenue of ultra-high premium.3) Purchasing a low-priced introductory model has become a way for users to please themselves by trying to bring users into the surprise created by the blind box. In marketing, the brand still chose the low price strategy. In today's world of self-expression and individuality, purchasing a blind box has also become one of the ways for contemporary people to treat themselves. On the basis of small spending, many people buy a single product of 59 yuan, but they do not know that once they have a small hand puppet, they have the desire to collect a full set of hand puppets, thus turning the consumption of 59 yuan into 59 * 6. If there are too many hand puppets, or the unit price is higher, the introductory model may bring a higher user consumption, which is an emotional connection between the business and the user. Today, the popularity of the economy, those interesting personality and not expensive products, has become the first choice of contemporary users of products. Differentiation of hair to build a complete industrial chain: Bubble Mart pays attention to the source of the trendy toy market, focuses on the cultural cultivation and dissemination of the macro-market, and builds an industrial chain covering designers, factory supply chain, retail channels, and international trendy toy exhibitions, and gathers a strong and high-quality fan base through the cooperation***creation with famous trendy toy designers and world-famous brands to create trendy products favored by the young consumers for the classic IP images. We have gathered a strong and high-quality fan base to create trendy products for classic IP images that young consumers love nowadays. → Carry out large-scale offline activities | exhibitions: 2017.09: Beijing International Trendy Toys Exhibition the first large-scale trendy toy exhibition in mainland China. 2018.04: Shanghai International Trendy Toys Exhibition - the largest trendy toy exhibition in Asia. Through the exhibition, it attracts a large number of excellent designers and brings more opportunities for brands to cooperate ****create. At the same time, it allows more foreign trendy toy brands to pay attention to the domestic market, and it also broadens channels for more excellent Chinese designers to show their original art, which makes up for the blank of the domestic trendy toy industry, and helps China's trendy toy culture to flourish. |Lectures: 2019.06: Co-organized with the Central Academy of Fine Arts (CAFA), a series of lectures on trendy toys, with top designers in the industry lecturing on trendy toys to help cultivate Chinese designers of trendy toys. Creating brand temperature: The persona of the IP image and the cute quality of the dolls have their own emotional attributes, and the brand uses this characteristic to give the product a healing effect, which is exactly what young people with strong emotional needs but loneliness in their hearts want, and thus the blind box is successfully used as an important carrier for the realization of the IP of the trendy toys, which creates commercial value for the brand in a smooth manner. Precise positioning, catching up with the wave of the generation: it is reported that the tide play hand office is located in the top five hobbies of the 95 after the most money (Tmall's "95 after the player chopping power list. Spending huge sums of money for hobbies has become a trend at Tmall, with nearly 200,000 consumers spending 20,000 sets of blind boxes a year. Bubble Mart can be said to have firmly grasped the shopping psychology and needs of young people of generation z. The last "blind box economy" is the most important thing. In the end, the logic behind the "blind box economy" is actually a kind of surprise, satisfaction and pleasure. "Blind box thinking" in fact, Alipay a few years ago has begun to utilize this thinking, Alipay end of the year to launch the "set five blessings activities". Every time you draw a lucky draw, you look forward to it, but you don't know which one it will be, and there's always a lucky draw that's the hardest to win, so this kind of gameplay is not very familiar. Yes, it's the blind box game. So Alipay's "Collect Five Fortunes" campaign will be spreading like wildfire, and everyone enjoys collecting them.