MINISO's Global Blind Box Carnival Spreads Joyful Surprises as its Blind Box Sales Top 20 Million Pieces for the Year
- MINISO sales surged 156.6% in China and 64% in the US during the Blind Box Carnival
- The blind box category has become a key strategic sales category for MINISO, with global sales of more than 20 million blind boxes in 2023
- The global pop toy market is expected to reach US$44.8bn in 2024, with a CAGR of 17.7% from 2019-2024
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Insights
The blind box economy, as exemplified by MINISO's recent global creative party and Blind Box Carnival, represents a growing trend in experiential retail that caters to younger consumers. This phenomenon taps into the 'surprise and delight' marketing strategy, leveraging the appeal of unpredictability and the joy of discovery. MINISO's significant increase in sales during the campaign, particularly the 156.6% rise in blind box sales in China and a 64% increase in the US, underlines the effectiveness of this strategy in driving consumer engagement and revenue.
Moreover, the integration of popular IPs like Disney and Sanrio into their blind box offerings creates a potent mix of brand synergy and collectability, which can enhance customer loyalty and repeat purchases. The reported 20 million global blind box sales in 2023 and the projected growth of the global pop toy market, with a CAGR of 17.7% from 2019 to 2024, suggest a robust market trajectory that MINISO is well-positioned to capitalize on. This growth trajectory could potentially increase the company's market share and brand visibility, especially within the Gen-Z demographic that values personalization and diversification.
MINISO's strategic focus on the blind box category as a key sales driver is an important aspect of their growth model. The reported sales figures, including the milestone of selling more than 20 million blind boxes globally in 2023, indicate a successful penetration in both existing and new markets. This success is likely to have a positive impact on MINISO's revenue streams and could lead to upward revisions in sales forecasts and stock valuations.
The company's ability to leverage seasonal campaigns and global festivities to amplify sales is a testament to their agile marketing and operational capabilities. The financial implications for stakeholders, including investors and franchise partners, are significant as these campaigns demonstrate the potential for high returns on marketing investments and inventory turnover. The positive reception in overseas markets, where blind boxes are an emerging category, also hints at a considerable upside in international expansion strategies.
The surge in popularity of blind boxes, particularly among Gen-Z consumers, reflects a broader shift in consumer behavior towards products that offer a unique and personalized experience. MINISO's implementation of a global campaign that emphasizes community and shared experiences, as seen in their Blind Box Carnival, aligns with the values of younger consumers who often seek social connection through their purchasing choices.
The psychological appeal of blind boxes—rooted in the elements of surprise and the thrill of the 'hunt' for rare items—resonates with the desire for novelty and exclusivity. This is further amplified by the social media impact, with over 170 million impressions recorded during the campaign, which not only drives direct sales but also fosters a community of brand advocates and enhances customer engagement. Understanding these consumer motivations is crucial for businesses looking to design products and marketing strategies that resonate with this influential demographic.
Throughout December and January, MINISO is bringing countless surprises to shoppers around the world with its amazing Blind Box Carnival. The festival of fun has shared the thrill of unboxing hidden delights with hundreds of thousands of shoppers in the world, spreading MINISO's 'Joy Philosophy' in a global campaign inspiring wonderful memories and offering the chance to win incredible prizes.
MINISO kicked off the Carnival on December 16th in
The installation featured popular IP characters from Zanmang Loopy, Sanrio and Disney "unboxing happiness" in an extraordinary audiovisual treat, drawing attention to the tremendous range of IP blind boxes in the new store. The festival atmosphere and exciting campaigns attracted huge numbers, with a new opening day record for the store. Blind box sales were the biggest contributor to sales on the day, with sales of the product also increasing
The Blind Box Carnival also touched down in the US, where the campaign coincided with the holiday season for an unforgettably festive celebration in
Throughout the day, MINISO gave out more than 3,000 blind boxes in
Meanwhile, in
The Blind Box Carnival has also seen joyful activities taking place in the
"The Blind Box Carnival is the perfect celebration of MINISO's belief that life is for fun," said Robin Liu, Vice President and Chief Marketing Officer of MINISO Group. "We are grateful to all the shoppers who have engaged with the campaign so far and helped to spread the joy of blind box shopping. While blind boxes is still an emerging category in many overseas markets, we have seen great enthusiasm and strong sales in the markets where we have introduced them. We have great confidence in this strategic category and look forward to bringing blind boxes to even wider audiences in the coming year."
Blind boxes have become a key strategic sales category for MINISO as Gen-Z audiences express demand for greater personalization and diversification. In total, MINISO sold more than 20 million blind boxes globally in 2023. According to a report by Frost & Sullivan, the global pop toy market has grown rapidly in the past five years, with the total market size expected to reach
About MINISO
MINISO Group is a global lifestyle brand offering a variety of design-led lifestyle products. The Company serves consumers primarily through its large network of MINISO stores, and promotes a relaxing, treasure-hunting and engaging shopping experience full of delightful surprises that appeals to all demographics. Aesthetically pleasing design, quality and affordability are at the core of every product in MINISO's wide product portfolio, and the Company continually and frequently rolls out products with these qualities. Since the opening of its first store in China in 2013, the Company has built its flagship brand "MINISO" as a globally recognized retail brand and established a massive store network worldwide.
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SOURCE MINISO
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