The blind box market was worth 7.4 billion yuan (RM4.6bil) in 2019, according to market research firm Qianzhan Intelligence, which added that could soar to 30 billion yuan (RM19bil) by 2024. On the vibrant second-hand market, rare figures can fetch dozens of times the original price of an unopened box, which usually costs US$10-$20 (RM41-RM82). Liu Xiaoli, a nickname, has been collecting blind box toys since 2018.The advertising professional, in her thirties, pulls thousands of followers to a Bilibili video channel where she documents her box-opening adventures. The competition is so intense that the most sought-after toys, such as the archaeology-themed blind boxes sold by Henan province’s official museum, sell out almost immediately after their online release. “One of the reasons behind the success of blind boxes is that they divide their products into different categories of rarity, ” said Steffi Noel, a consumer analyst at Shanghai-based Daxue Consulting.

Source: The Star May 04, 2021 07:01 UTC