Introduction to the World of Collectible Toys
This is not the first time that a child’s obsession has affected the adult consumer. From the Beanie Baby craze of the 90s to the Pokémon GO phenomenon, and the rise of BarbieCore in 2023, history has shown that adults often revert to their youth and become enthusiastic about toy characters.
The Rise of Labubu and Other Trendy Toys
Labubu is currently not the only trendy toy item. At Selfridges, the soft toy manufacturer Jellycat is the fastest-selling toy brand, with a Jellycat being sold every 15 seconds during the festive period in 2024. Other popular toys, such as Pop Mart’s ‘Blind Box’ and Krybaby, are also in high demand. The popularity of these toys is evident in the recent theft of £150,000 worth of Pop Mart toys, including Hirono, in a truck robbery in Great Britain.
Understanding the Luxury Consumer
As more and more adults eagerly await the latest Labubu drop, buying them for hundreds of pounds on eBay or Depop, and even attaching them to their luxury handbags, a question arises: what is driving this trend? Conversations with fans and experts reveal that Labubu and the toy shift can teach us a lot about today’s luxury consumer.
Comfort in Dark Times
"With everything that’s going on in the world and so much uncertainty, people are looking for experiences and objects that bring comfort, happiness, and a feeling of playfulness," says an expert. "Labubu and the entire Pop-Mart range offer a small pocket escape, something charming and soothing to carry with them." This sentiment is echoed by the fact that Harrods started selling Labubu in November 2024 and has since extended the pop-up shop due to high demand.
Escapism in a Bleak Economy
The audience for these toys consists of adults seeking escapism from a bleak economy, climate chaos, and decreasing shopping power. In this context, Labubu and other collectible toys offer a form of escapism, says a retail expert. "In recent years, the ‘kidult’ customer has undeniably increased. Consider the effect of films like Barbie or Minecraft – everything born from toy trends that appeal to a much broader market for adults." The rise of Jellycat is a prime example of this trend, appealing to a wide range of adults seeking comfort and nostalgia in their lives.
