Chances are, just reading the words Beanie Babies, Furbies, and Hot Wheels is already unlocking some core childhood memories. Collectable toys have been around since the 1800s, but they really saw a surge in popularity in the late 20th century. Fast forward to the present day and a furry, smiling monster called Labubu is leading a wave of absolute world domination. In this edition of 52INSIGHTS, we’ll delve into the psychology behind the cultural phenomenon of collectable toys, and what it means for brands who want to leverage this nostalgic craze.
Labubu’s Villain Origin Story
The Labubu craze is a global phenomenon and centres around collecting whimsical, furry keychains called Labubu. The trend sweeping around the world hinges on the emotional desire of young adults to be transported back to their childhoods by collecting adorable, fuzzy figurines that provide a sense of joy, connection and feel like a little bit of affordable luxury.
Wondering where the Labubu craze actually began? Labubu originated in 2015 as a character by Hong Kong-born artist Kasing Lung in his picture book Monsters, inspired by Nordic mythology. The small, furry creature with serrated teeth became a collectable figurine through a collaboration between Lung and Beijing-based Pop Mart as part of their “The Monsters” series. In 2024, the series generated around 3 billion yuan (€390 million) in revenue, a 726.6% year-on-year jump, driven largely by Labubu’s global cult following. Today, Labubu has taken on a life of its own, with millions of teens and young adults clipping them to backpacks, belts and bags as must-have accessories that blur the line between fashion statement and emotional support token.
However, Labubu isn’t the only mini collectable making waves. The soft and cuddly plushie Jellycats have been circulating on social media since 2022 and the tiny, pants-less Sonny Angels have recently been skyrocketing in popularity. If you are one of the few who haven’t bought into the collectable trend, you may be asking yourself, ‘Why are people losing their minds over silly little toys?” The psychology behind their surge in popularity is multi-faceted, but it largely stems from nostalgia.
The Power of Nostalgia
Tapping into a sense of nostalgia has been proven to be a powerful and effective marketing tool. We only have to look at the success of the Barbie movie campaign or the allure of the Polly Pocket X AirBNB collab to see that today’s audiences are craving a sense of childhood nostalgia. A recurring trend on social media over the last few years has been the idea of ‘healing your inner child’ by indulging in activities or purchases that would have made you happy when you were a child. The act of hunting, collecting and owning these little toys can help bring about this sense of childlike comfort:
“Fully sucked into Labubu culture and don’t regret a thing! Healing your inner child is priceless. Go get you one…or all of them.” – Globally beloved drag performer Gia Gunn via Instagram.
The dawn of Funko Pop! character dolls in the early 2000s paved the way for other collectables aimed at over-18s to enter the market. Funko Pops helped make it more socially acceptable for adults to enjoy and collect art toys. By presenting them as both playful collectables and home décor, the brand lowered the psychological barrier that had previously made some adults hesitant to engage with toys.
The recent surge in collectable popularity can be partly attributed to their low price point, making them accessible during tough economic times. In fact, some even view this trend as an informal ‘recession indicator,’ with the TikTok generation spotting signs of financial hardship in everything from low-rise jeans to baby tees. Put simply, times are tough.
“The first time I saw a Sonny Angel was on Lily-Rose Depp’s Instagram account in 2015. I have collected over 50 Sonnys. I have also ventured into other blind boxes and collectable dolls such as Smiski’s, Nyota’s and vintage Blythe dolls. I don’t know why I like them, but they bring me happiness!” said Clara, 28, Irish collector
A Slice of Attainable Luxury | Commodifying Scarcity
Brands who want to lean into the whimsical nature of this craze can tap into consumer behaviour surrounding the trend, with or without a collectable offering to bring to market. Taking Labubu as an example, the general hype manifests mostly online across TikTok, where creators go ‘hunting’ for rare discoveries, film unboxings of PR packets as well as record their rare blind-box finds, all the while leaning into ASMR-style video trends.
Employing the element of surprise, the success of blind boxes lies in packaging. The opaque packaging conceals the item inside from its buyer until they open it. Often, the excitement comes from the thrill of possibly collecting a rare edition. Blind box buyers have a 1 in 72 chance to collect the rare Labubu without turning to resellers. Think about the thrill of finding a rare item in a blind box. It’s like a little victory!
THINKHOUSE’s digital motion creator, Mark Luna, commented that, “Blind opening a box of Hirono figures reminded me of opening packs of Pokemon cards, except I valued the design and aesthetic of the figure itself, knowing I could have it out on display, rather than the value it potentially has to be resold, and worrying about damaging it. Every collector is different but this is how I value my collectables. At the end of the day, it’s all paper and plastic, but it’s the inherent value and attachment a person has to a certain piece.”
Brands doing collectables well employ a strategy mirroring luxury brand marketing, where rarity drives demand and exclusivity is currency in spite of the low price point. Many brands have piggybacked on ‘luck of the draw’ style ‘blind-boxes’ such as Lego’s CMF (Collectable Mini-Figure) series. Disney equivalents include its Five Nights at Freddy’s edition, while viral US content creator Mr. Beast has his own blind boxes available for purchase.
Some collectors view their collectables as an investment, believing theirs will retain or even grow in value over time. Younger people are particularly interested in collectables. According to research by the saving and investing app Moneybox, a quarter of 18 to 24 year olds have already invested in collectables, as have 15% of 25 to 34 year olds. This compares to 10% of those aged 55 and over. Similar to the sale of luxury goods, many ‘real’ collectables come with a certificate of authentication to help distinguish from dupes (copy cats like Lafufu’s). Pop sensations Rihanna, Dualipa and Blackpink’s Lisa are all counted among the Labubu fandom and their celebrity endorsement has accelerated the frenzy even more. When Lisa from the viral K-pop group Blackpink posted a video revealing her Labubu obsession on TikTok, the clip drove a 30% spike in Pop Mart’s Global’s Southeast Asia sales that week. The music artist has since announced her desire to work on a Labubu collaboration with the brand. After being spotted sporting a Labubu on her Louis Vuitton handbag in LA, popstar Rihanna’s favoured pink ‘Lychee Berry’ Labubu became impossible to find.
Hype Turns Hysterical
When brands create a sense of rarity, they turn products into treasures. Some Labubu collectors are so protective of their items that they avoid displaying them in public, fearing theft or even attack. It’s a powerful example of how fandom, when fuelled by scarcity and celebrity endorsement, can drive intense emotional investment.
This hype has a darker side. The gamified nature of mystery drops and blind-box collectables is often likened to gambling, particularly when fans are encouraged to purchase an entire series to unlock exclusive rewards. This can trigger compulsive behaviours, even among young people who are otherwise environmentally and ethically conscious.
For brands, the lesson is clear: while collectable culture can supercharge engagement, it must be handled with care to protect both the brand’s integrity and its community.
Brand Takeouts
Tap into Nostalgia with a Twist of Play: youth audiences respond powerfully to nostalgia, especially when it’s delivered through playful, creative formats. Think: UGC-led unboxing culture, gamified experiences, and the ‘cuteness factor’, all highly effective tools to bridge the gap between childhood wonder and adult identity.
Create Talkability through Intrigue and Exclusivity: build anticipation and social buzz by releasing limited-edition products and blind-box drops. These elements of mystery and scarcity invite consumers into a moment of discovery, generating excitement and increasing social sharing.
Craft Collectables, Not Waste: collaborate with artists and creatives to design items that feel meaningful and collectable, commodities that won’t be tossed in landfill but valued as micro-luxuries. Environmental consciousness is key.
Lower the Barrier, Elevate the Buzz; a low initial price point is essential to get youth audiences in the door. From there, strategic use of celebrity endorsements can convert hype into real sales, especially when endorsements are authentic.
Ride the Wave, But Mind the Risk while frenzy and hype can fuel short-term wins, brands must be careful not to lose control. Maintain a focus on community, nostalgia, and emotionally resonant storytelling to avoid reputational pitfalls. There’s a hunger for feel-good fun. Don’t overplay the hype.