SCMP: Chinese Millennials’ Craze For Toys Spawns Multimillion-Dollar Industry In Blind Boxes, Drawing Calls To Curb Speculation

Market for blind boxes could grow to 25 billion yuan (US$3.8 billion) in 2025 from about 3 billion yuan in 2019. China’s toymakers bet on the country’s 500 million young consumers, flush with disposable income and willing to spend on indulgences, to fuel the market. “Everyone is trying to participate in the ‘blind box’ party,” said Pedro Yip, partner in Oliver Wyman’s retail and consumer goods practice. “It is probably the best tool to woo young Chinese spenders who, unlike previous generations [who] might have suffered from poverty and unstableness, like adventure and [want to] explore unknown things.”

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