Labubu fever: plush toy or crisis indicator?

By: Trademagazin Date: 2025. 09. 19. 11:39

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The Labubu plush figure produced by Pop Mart is a huge success worldwide, and according to the manufacturer, they will soon be able to sell ten million of them per month. The pointed-eared, big-eyed, teeth-flashing figure is typically not bought by children, but by adults; many collect it, while others hang it on their bags or clothes. However, its popularity is accompanied by an increasing number of economic interpretations, writes Telex.

Several analysts and influencers see Labubu as a modern example of the “lipstick effect”: during a recession, people tend to compensate themselves with cheaper luxury items – for example, a 15,000-forint figure – instead of postponing larger expenses. The parallel is also reinforced by the Furby fever of the 2000s or the enduring success of Hello Kitty.

Others, however, urge caution: the effect of the lipstick effect has not yet been consistently proven, so it is doubtful that Labubu would truly predict any crisis. Some economists say that political and trade decisions, such as Donald Trump’s tariff war, are more likely to influence the economic outlook than the sales of plush toys.

However, many agree that the Labubu phenomenon illustrates the point that consumer decisions are often shaped by emotions, fashions, and social trends—sometimes so much so that they can be interpreted as economic factors.