China’s Gen Z consumers are fueling a new wave of growth in the country’s toy and collectibles markets.
During this year’s “618” mid-year shopping festival, Tmall and Taobao platforms have reported record-breaking performance.
From May 13 to Jun 12, six flagship stores on Tmall and Taobao surpassed 100 million yuan ($13.9 million) each in sales. The stores included Pop Mart, miHoYo, Shanghai Disney Resort, Jellycat and LEGO. Nearly 100 merchants exceeded the 10-million-yuan mark, according to official platform data.
The standout performance reflects the growing demand for licensed and intellectual property-based merchandise among China’s young consumers.
The Walt Disney China, for example, launched a nationwide campaign tied to its Stitch IP. According to Walt Disney last year, retail turnover from Stitch-licensed merchandise in Chinese mainland had grown nearly fourfold over the past three years. The release of Lilo & Stitch: The Series is expected to further boost demand.
As of May 16, the brand had collaborated with 66 licensees to develop themed products. The Stitch collection was launched for purchase across more than 4,000 Miniso stores. The company has also launched pop-up activation in major cities including Suzhou, Guangzhou, and Beijing since May.
Stitch-themed installations were also rolled out across 149 Wuyue Plaza malls, aimed at engaging families and younger fans.
Young Consumers Focus on Meaningful Purchases
According to e-commerce advisory Analysys, emotional value and identity expression are emerging as dominant themes in China’s consumption landscape. In its “2025 618 First Wave Review,” the firm cited the collectibles boom as evidence of consumers seeking personalized and meaningful purchases.
A survey on the social mindset of young Chinese internet users showed that younger consumers are shifting their focus away from big-ticket items like houses, cars, and home décor. Instead, they are toward food and entertainment products that offer them instant emotional satisfaction.
Young people in China are increasingly aware of their own desires, many choosing to invest in hobbies and personal happiness, valuing instant gratification. They prefer products that offer emotional value, according to the survey. Whether it’s a blind box or a pen featuring beloved characters, these items hold emotional significance that outweighs their practical use.
“Unlike previous generations, today’s young people, with their basic needs met, seek higher-level spiritual enjoyment and cultural experiences,” said Zhang Yi, CEO of iiMedia Research Institute. He added that emotional consumption is a form of “consumption upgrade”, where social and emotional values now influence their purchasing decisions.
Written by Sha Liu, additional reporting by China Daily, Global Times.
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