China's mystery box market to cross 30 bln yuan: report
Mystery boxes are gaining popularity in China, with the size of the toy's market expected to reach over 30 billion yuan (about 4.59 billion U.S. dollars) by 2024, according to an industry report.
Mystery boxes or blind boxes give a random item when opened.
Makers of the mystery boxes currently face fierce competition in the market, with the leader -- Pop Mart -- having a market share of only 8.5 percent, said the report published by MobTech, a data intelligence technology platform.
The revenue of Pop Mart jumped from 160 million yuan in 2017 to 1.68 billion yuan in 2019, while its net profits reached 452 million yuan last year, data from the report showed.
Female white-collar workers and Z-generation college students in first-tier cities are the primary consumers of mystery boxes. Females account for 62.6 percent of consumers, according to the report.
More consumers prefer to buy mystery boxes offline as they are attracted to the cute designs and revel on opening them, said the report.
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