Bubble Mart has plummeted by more than 100 billion, and senior players say "the game of cutting leeks can not play anymore"

Extreme news reporter Xu Wei

Video editing Liu Yan

On July 21, the "Tide Play" Bubble Mart issued another 921,600 shares, with the repurchase price of HK $ 22.65-23.05, costing about HK $ 21 million. The reporter noticed that Mart has been repurchased many times this week, costing more than 320 million Hong Kong dollars. The frequent repurchase of management stems from the recent downturn.

On July 18th, the Bubble Mart's plate fell more than 18%, the lowest price of HK $ 20.9 per share, and the stock price fell nearly 50%this year. As of today's close, the latest market value was HK $ 31.94 billion, which was a market value of nearly HK $ 150 billion from the peak period, and the shrinkage has over 100 billion Hong Kong dollars.

The capital market is not satisfactory. What is the sales of offline stores? Today, Jimu Journalists conducted field visits.

Bubble Mateham Street Store

Blinding box rely on "listening to the sound"

On the morning of July 22, the reporter came to Hanjie store in Wuhan's largest bubble Mate flagship store. It just opened the door at 10 am. There was no one in the store. It was not until 11:00 that customers went to the store to buy.

The reporter walked into the store and saw the two boys standing in front of the display cabinet at the door, picked up the carton one by one, and shook it repeatedly. "Why shake the box?" The reporter asked puzzledly. Shaking and weighing, estimate the shape inside, and choose the one you want. "Seeing the reporter with a little surprised look, he smiled and said," This is a listening discern, and you must shake more to experience it. "Then, they changed other theme counters and continued to search.

When communicating with reporters, the shopping guide said that those blind box enthusiasts may feel that this is a carefully selected process, which is also a special experience that offline stores can bring them. The shopping guide told reporters that most of the young people who came to consume were five or six years old, and their 20s were in their twenties. Because of the impact of the epidemic, the offline stores would be slightly cold, but now many people place orders through online applets. And many limited models must be drawn online to be qualified.

The hidden model is the design of the blind box, which is set as a "white moonlight" that the blind box enthusiasts can never get. According to the routine of Bubble Mart, a hidden model will appear in the 144 ordinary models. "If you want to get the hidden model, a whole set will increase the probability of hitting the life. If you are lucky, you can get a hidden model." Player Xiaoyuan (pseudonym) told reporters that the hidden model can usually be 10 times higher than the market price of 10 times higher than the market price. The price is hung up. In 2019, in 2019, even the hidden model of Molly Pan Shen in the previous year can be fired to 1,000 yuan. Xiaoyuan said, "The craziest time is a set of buying one by one, and the whole wall of the family is all, so I dare not count how much money."

Newly released Elf Monster Series

"Ashes" players also retreat

During the interview, the reporter encountered a ash player Possible (pseudonym). Since 2004, he started playing such hand -in. "When I played this type of product a long time ago Matt, I received Dunny produced by Kidrobot, QEE produced by Toy2R, BearBrick, and even Japan's rewards was earlier than Bubble Mart. For the best time, combined with the concept of the so -called blind box, it set off a wave of collection speculation boom. "

He believes that the contribution of Bubble Mart is to let passers -by understand that there are so -called trendy toys. Things without practical functions can actually sell so well, and some designs can also meet people's spiritual needs. "But now Mart has some quick success, new and faster and faster, and the amount of sale is getting bigger and bigger. One year of N -set of works, the so -called artwork has also become a assembly line product. It is difficult to make money in the second -hand market. It is a game of cutting leeks. It is impossible for a long time. "He now occasionally take his eight -year -old son to stroll around, pick his own or children's favorite themes, and will no longer buy it blindly. There are more and more enthusiasts like Possible. After 95, Xiao Zhu told Jimu Journalists that she entered the pit in 2018. The first "baby" was the antlers of the Molly insect series. The box will also find some friends to change the "baby", which has been collected one after another one after another.

The reporter searched on the second -hand app and found that in 2020, the Space Molly 1000%specification (70 cm) launched by Bubble Mart and Coca -Cola was once stated to tens of thousands of yuan. Now the product quotation is generally less than 6,000 yuan. In addition to the collection models, the prices of the popular products of Bubble Mart are more unable to withstand the test of time. At the time of listing, a blind box sells for 68 yuan per major shopping mall. Now it has been as low as 99 yuan/6 on the second -hand app, and some of them have even dropped to 10 yuan.

Not only the price decline, the sales volume of Bubble Mart's blind box products also declined, and the popularity is not as good as before. For example, in the co -branded model, the King of Glory of the King of Glory, the new series of Glory Canyon, and Xianjian Qixia biography, which were launched recently, did not sell out of stock. Bubble Matt Tmall's official website shows that the monthly sales of the two have not exceeded 1,000 orders.

Industry insiders pointed out that the "lost power" of Bubble Mart reflects the current situation of trendy culture. A limited edition sales model, the stimulus gameplay of blind boxes, and the blessing of IP feelings, from the perspective of controlling the relationship between supply and demand of the market. But the market bubble seems to be pierced one by one.

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