Trendy’s new brand TOP TOY has a 3-day turnover of 1.08 million. Will it become the next Bubble Mart?

On December 18th, Chaowan's new brand TOP TOY was released, and its first flagship store in the world opened in Guangzhou Grandview Plaza. Three days before the store opened, the number of visitors to the store exceeded 30,000, the turnover exceeded 1.08 million, the highest single-day performance was 420,000, and the average customer unit price was as high as 325 yuan. In terms of user portraits, the male to female ratio is more even than expected, the customer unit price and payment rate are higher, and the blind box sales contribute a higher proportion. We observed the checkout situation at the checkout counter during the hour from 16:30-17:30 on the 21st, tried to portray user portraits and analyze product sales: 39 men and 38 women out of 77 customers, the ratio is very average . There is only one user under the age of 15 in the age distribution, which may be related to the survey time on Monday afternoon, but it matches the results of TOPTOY's positioning of the 10-40 year old male and female consumer groups. The one-hour sales is over 10,000 yuan, and the estimated unit price per customer is RMB 169.61 per order. We assume that 30,000 people enter the store and consume 36 yuan per person per person. If calculated based on the estimated unit price per customer, the number of consumers in the first 3 days is 6,368 People, the pay rate is about 21%. The number of single purchases of goods containing blind boxes accounted for 69%, and the sales of blind boxes accounted for 44.22%. In terms of products, there are about 1,500 SKUs in the store, covering seven core categories such as blind boxes, art fashion games, daily comic figures, Meiman figures, doll models, assembled models, and building blocks. The best sellers are of all types. Blind boxes (sells best include DakeDuck IP Christmas party series, Pikopig fart and pig dessert series, etc.), as well as IP figures such as One Piece, Naruto, and Marvel. In terms of publicity and promotion methods, the store's early stage is mainly promoted through social media and online celebrity check-in methods. The opening activities include COSER on-site promotion, signing next to the designer's store, and member discount activities. The TOPTOY mini program was officially launched on December 15th, offline stores will divert to the online membership system, members can accumulate points for consumption (start using the next day, 20 points for 1 yuan) and free environmental bags, members purchase 200 yuan Free metal cups (limited to about 1,000 copies in 3 days), free puzzles for more than 300 yuan, basically checkout is equal to member registration. At present, the function of TOPTOY applet and the construction of membership system are still shallow and need to be improved. In the later period, TOPTOY will use social marketing and new media marketing as the main way to develop its strength, and assist it through exclusive channels such as exhibitions. ▋Which players are there in the tens of billions of tide gaming market? Trend toys refer to toys that cleverly integrate trend culture and content. Different from traditional toys, trendy toys are generally characterized by unique designs and aesthetics. In most cases, they are derived from authorized trendy content, making them more suitable for display and collection beyond functional use. Trendy toys cover a wide range of products, including blind boxes, figures, GK figures and adult assembled toys. Driven by the increase in disposable income and the rapid development of trend culture, the global trend toy market has developed rapidly. According to Frost u0026 Sullivan statistics, the global trendy play market has grown from USD 8.7 billion in 2015 to USD 19.8 billion in 2019, with a compound annual growth rate of 22.8%. In China, the trendy toy retail market is still at an early stage, and the industry is in a stage of rapid growth. According to Frost u0026 Sullivan statistics, China's trendy toy retail market has grown from 6.3 billion yuan in 2015 to 20.7 billion yuan in 2019, with a compound annual growth rate of 34.6%. IP is the core of the trendy toy industry chain, and IP creation is the origin of the trendy toy industry chain and the core competitiveness of the trendy toy industry. Therefore, IP is very important to the development of trendy toy. Trendy toys are usually designed based on cultural and entertainment IP, which can bring consumers an immersive experience around original content and artwork. Trendy toy IP can be created by outstanding artists, or licensed from movies, animations, games, or other content sources. According to Frost u0026 Sullivan statistics, China’s IP licensing market reached 84.4 billion yuan in 2019, and the IP-adapted entertainment market reached 308 billion yuan. ▌IP+blind box creates a blind box for fun and gold-absorbent beasts, as the name suggests, that is, the toy box of the specific product style cannot be known in advance by consumers, and it has random attributes. Generally, blind boxes appear in series. They may be doll figures from animation and film and television works, or they may be characters individually designed by designers. IP is the main factor that attracts consumers to buy. On the one hand, relevant manufacturers based on the IP authorization of classic animation, film and television, and games, using creativity + brand + channel advantages, global layout, sharing the market space of IP derivatives, and achieving a substantial increase in performance and market value. The IP design determines the player's first request to collect, and the uncertain design of the blind box brings excitement and improves the shopping experience. Bubble Mart combined the two to achieve rapid sales growth. As of June 1, 2020, the company has operated 85 IPs, including 12 own IPs, 22 exclusive IPs, and 51 non-exclusive IPs. Private IP includes acquired IP such as Molly and Dimoo, and IP developed by the company's internal team such as Yuki and BOBOu0026COCO, etc. These IPs are constantly being perfected by original artists; exclusive IPs are jointly developed by the company and artists through licensing agreements; non-exclusive IPs are The company has established a stable licensing relationship with IP providers, including well-known cartoon characters such as Mickey Mouse, Minions, Hello Kitty, etc. According to the data disclosed in the Prospectus of Bubble Mart, from 2017 to 2019, the operating income of Bubble Mart increased rapidly. In 2018 and 2019, the operating income increased by more than 200% year-on-year. In 2019, the operating income reached 1.683 billion yuan. Private IP accounted for the highest proportion of revenue in 2019, reaching 45.3%; exclusive IP followed closely, accounting for 43.2%; non-exclusive IP accounted for 11.5%. With its IP+ blind box, Bubble Mart ranks first in China's trendy toy retail market. According to the Frost u0026 Sullivan Report, in 2019, in terms of retail value, the top five market operators accounted for 8.5%, 7.7%, 3.3%, 1.7% and 1.6% of the Chinese trendy toy retail market share respectively. Source: Tianfeng Media Wenhao Team, Forward-looking Economy