He May Bring You Happiness… If You Can Find One: How Collectibles
Illustration by Jina Kim
Feeling enticed to buy a bug-eyed, elf-like figurine with a tuft of wild hair and jagged teeth? Funny thing is – you probably can’t. Unless, of course, a $7,000 price tag on the resale market doesn’t deter you. Then again, a Labubu isn’t just another toy. Once merely a character from The Monsters, a picture book group created by Dutch-born Hong Kong illustrator Kasing Lung, a collaboration with Chinese retail giant Pop Mart, changed everything. The labubu is a symbol of taste, of status, of the hype economy in full force. Enter the world of blind box collectibles. Here, the unknown intrigues, scarcity fuels relentless demand, and emotional support figurines transform into tokens of social capital. In a consumer landscape, where products can vanish as quickly as they appear, blind boxes attract consumers in a way that many other products have in the past. Whether it be a different toy released decades ago like Furbies, or a limited-edition sneaker drop on StockX — selling with hype is not just betting on chance but rather is ingrained in business strategy.
Engineering Desire: The Psychology Behind the Blind Box Boom
The success of biblically inaccurate, 3inchtall cherub figurine with peculiar headgear is not because they are useful, but because they’re elusive. With a careful blend of psychology and strategy, blind boxes transform cheap plastic into irresistible objects. The concept is simple; when you purchase a blind box, you may be able to choose the series, but you don’t know which exact figurine you’ll get until you open the box. With avid collectors chasing special editions, talking odds, like a 1-in-72 of an ultra-rare Labubu or 1-in-144 for a Sonny Angel, start to sound like chat from a casino rather than a toy store. B.F. Skinner’s theory of operant conditioning, the same principle that underpins gambling and slot machines, suggests that people are more likely to repeat a behaviour when rewards are unpredictable. Provide a lowcost entry point, with more purchases increasing your chances of taking home a rare figurine, that is exactly what blind boxes offer. The thrill of better odds keeps buyers coming back. Beyond addictive odds, the experience of buying a blind box feels personal — almost like giving a gift to yourself. The sealed packaging and surprise aspect make consumers feel like both the giver and receiver. Paired with a classic case of sunk cost fallacy and escalation of commitment, you can’t blame consumers for typically buying more than just one blind box at a time. Blind boxes aren’t successful by chance; they are a masterclass in engineering desire built on scarcity, randomness, and psychological triggers.
From Toys to Cultural Currency
With layered backstories and fully-formed identities, blind box toys have evolved beyond mere collectibles. Consumer emotions are at the heart of this transformation, bringing these plastic figurines to life. Take Sonny Angels, for example. Inspired by the Kewpie mayo baby, Sonny Angels were created 20 years ago to “assuage the stresses of young working women in Japan”. Their launch came at a time of economic uncertainty — Japan was experiencing a mild recession and was hit hard by the 2008 financial crisis. Sonny Angels became more than just cute; they were a cheap form of emotional support. Similarly, in The Monsters universe, Labubu is written to have quirks and even old boyfriends. Consumers form emotional bonds with these fictional characters and invest in their stories. Beyond storytelling, brands can further amplify emotional connections through social validation. Labubu exploded in popularity after celebrities like BLACKPINK’s Lisa wore one as an accessory, whose stylistic choice was quickly followed by the likes of singers Rihanna and Dua Lipa. Sonny Angels are now populating the workplace and entire TikTok subcultures — their presence signals an insider community. Blind box toys have become tokens of cultural capital, items that not only reflect individual taste but also a sign of social belonging. Through storytelling and virality, brands have turned figurines into lifestyle statements.
Fragile Fame: The Risks of Building on Hype
Hype can put a brand on the map but it can also break it. The same forces that drive demand, with queues online and lineups outside store doors, can quickly spiral into chaos. Pop Mart’s success with Labubu has already begun experiencing the dark side of hype: fights in stores, skyhigh resale markups, customs seizures resembling drug busts, and online scams. In July 2025, shares of Pop Mart tumbled after Chinese state media criticized blind box toys for encouraging excessive spending and unhealthy consumer behaviour, signalling potential regulatory crackdowns on the whole industry. Additionally, collectors online are characterizing the violence sparked by trying to buy a Labubu as “animalistic,” comparing it to the Hunger Games. Donning a similar plushy resemblance to Labubu, Furbies vanished from cultural relevance as quickly as they rose, going from childhood staples to national security threats banned from U.S. government buildings. Hype is volatile. While some trend-driven products manage to withstand the test of time – think Dyson Airwraps, Stanley drinkware, or Adidas Sambas — most fade fast. Brands that depend too heavily on scarcity and hype risk alienating their core audience. If access feels unfair and sometimes impossible, even the most loyal fans can lose interest. Brand trust erodes, and with i t, the community that made the brand feel special in the first place.
A Shelf Full of Lessons
Blind box toys have cracked the code on modern consumer desire, turning plastic into cultural currency through a mix of scarcity, surprise, storytelling, and social proof. Toys are just a sliver of the bigger story, in a realm of examples of how brands manufacture meaning — and how consumers, knowingly or not, buy into it. When “sleeping on it” before making a purchase isn’t an option, hype has become both a marketing tactic and a cultural force. It’s emotional, fastmoving, and addictive. Today’s prized collectible may be tomorrow’s forgotten fad. So next time you find yourself hunting for a product or in an exhausting queue, ask yourself… what are you really buying into?