"Gambler" bubble Matt turns around

The picture comes from Canva Paintable

Because of the blue eyes 、 Doodle faced Molly Fire is all over the net , Many people have realized the blind box economy and its potential development potential , So the form of blind box is more and more common in people's daily life , Even the convenience store in front of the community , We should do a blind box marketing at the anniversary .

in addition , The reason why the blind box economy is so hot , It has also been successfully listed with bubble mart, which mainly sells blind boxes , And exceed the market value of HK $100 billion in one fell swoop . But now the market value of bubble Mart has shrunk dramatically , Nearly halved , Many people began to doubt the ability of bubble Mart , And the first annual report released not long ago , But it also shows some problems .

Gradually reasonable income structure

According to the annual report , Bubble Matt 2020 The total revenue in is 25.1 One hundred million yuan , An increase of 49.3%; The adjusted net profit is 5.9 One hundred million yuan , An increase of 25.9%. Despite the growth , But compared with the growth rate of previous years , Now bubble Mart also has a stall .

According to the prospectus ,2017 - 2019 During the year , Bubble mart's income is 1.58 One hundred million yuan 、5.15 Million dollars 16.83 One hundred million yuan , Year on year growth for two consecutive years 225% above . In addition, the net profits of these three years are 160 Ten thousand yuan 、9950 Million and $ 4.51 One hundred million yuan , among 2019 Compared with the annual net profit of 2017 The year is over 288 times .

However, in recent years, the high growth rate of bubble mart is closely related to its head IP Products have a lot to do with .2019 year , Bubble Matt's Molly The revenue of series blind box products is 4.56 Billion , Year-on-year growth 113%, Accounting for total revenue 27.1%.Pucky Products followed , Proportion 18.7%, Two big IP It has contributed almost half of the total revenue of bubble Mart .

It's just , These two hot items IP While contributing revenue to bubble Mart , It also makes Paopao Mart bear the burden of relying too much on the head IP、 The risk of unreasonable income structure . But in the newly released annual report , This single income structure has been significantly improved .

According to the annual report ,2020 Year related Molly Of IP The product brings 3.57 A hundred million dollars in revenue , The proportion in total revenue has increased from 2017 Year of 89.4% Drop to 14.2%. in addition , have IP“Dimoo” And exclusive IP“The Monsters” The proportion of sales increased significantly , Respectively from the 2019 Year of 5.9% and 6.4% Up to 12.5% and 8.1%.

This shows that Paopao Mart has escaped from relying too much on the head IP The dilemma of , The revenue structure has also been further optimized and tends to be reasonable . Then, it is supplemented by bubble mart's continuously strengthened online and offline Omni channel sales system , Improve the sales of their own blind box products , Continuously bring value to the enterprise .

“ Gambler economy ” The transformation of the

However, while the sales of bubble mat blind box products have increased , Around the blind box products “ Gambler economy ” But it has also become the label of bubble Mart . This is also not understood by many people outside , Even the most fundamental reason for not optimistic about bubble Mart , They don't feel that they just rely on a moment's curiosity and flipping mentality , It can enable enterprises to obtain long-term development ability .

But for Paopao Mart , The label of gambler economy is not what was initially expected , Even “ Tide play ” All the labels are not what Paopao Mart ultimately wants . So what does Paopao Mart ultimately want ？“ A company based on tide play IP Operating company ”, Wang Ning, the founder, said .

This also shows that , Today's bubble mart is selling blind boxes “ Gambler economy ” Transition to “IP economic ”. And behind this , There are also reasons for bubble mart or active or passive .

The reason for being passive is , It is really difficult to have long-term development by relying on gambler economy . For consumers , The freshness of a product will disappear sooner or later , And in this age of inattention , It is difficult for consumers to love a product for a long time . If we only rely on the instant stimulus when consumers open the box , It is difficult to make the development of the enterprise go on for a long time .

The reason for the initiative is ,IP The operation of can gain more development space . The mode of disassembling bubble Mart can be known , Blind box is a way to stimulate consumption , Tide play is a form of carrying , The ultimate goal is “Molly”、“Pucky” These are remembered by consumers IP.

Based on mature IP, Bubble mat can extend tentacles to IP In every link of the industry , Bring growth to the enterprise's revenue from more links , Enrich the overall revenue structure .

As also IP, The challenge also comes from IP

choice IP As a development focus, bubble Mart , You can use LEGO to compare . As a toy manufacturer , Today LEGO has not only become a global leader in the field of building block toys , Also in film and television 、 Games etc. IP Good achievements have been made in the field of development , Like Lego and DC CO produced several LEGO movies .

Another example is the Disney that Paopao Mart has been targeting , It is also based on itself IP Operations , We have achieved very good results in various fields . So if the future bubble mart is based on Molly This IP Develop comics 、 game 、 The movie , It is also a reasonable action .

And based on IP Development , It will also bring user dividends to bubble Mart at this stage . Because the majority of consumers who buy bubble mat blind box products belong to the young group , They will have a stronger sense of cultural identity and circle , and IP The development of is a kind of cognitive reinforcement , It can deepen the connection between consumers and their products , Turn it into a high-quality user .

But challenges also follow , And for bubble Mart , The challenge mainly comes from the internal and external aspects .

The internal cause is its own IP Operational capacity needs to be strengthened . Although now bubble Mart has operated two new models with strong capabilities IP, But once you succeed, your bones will wither , There are more than a dozen that have not been successfully released IP product . in addition , future IP The whole chain operation of requires higher professional technology , Bubble Mart still needs to continuously improve its technical strength .

The external reason is naturally due to the popularity of other brands IP impact . For example, it suddenly became popular a while ago 《 Rural love 》 Blind box , Limited pre sale , First online 6 Hours were taken away ; Another example is the new fashion play brand launched by famous creative products TOP TOY, And the price is cheaper , Also built its own IP library , Some stores are even crowded before they open .

And it is these various reasons , Let Paopao Mart be bright IP Road of development , A little more uncertainty .

The blind box blows , But not blindly

For enterprises selling blind boxes , Before and after the launch of bubble Mart , The attitude of the market towards them has changed 180 The reversal of degrees . Before, I was looking for financing everywhere , After that, financing came to the door , Bubble Mart makes the market realize that the blind box is a feasible method , Drive the industry to be hot , It also makes many blind box enterprises want to be the next bubble Mart .

But as I said before , The blind box form is not a long-term solution , It's just a way to stimulate sales , One day this method will no longer achieve the good results it has achieved , Even with the emergence of more and more blind boxes , Consumers' boredom with blind boxes will come faster , This is undoubtedly a devastating blow to enterprises that simply rely on the form of blind boxes .

So this requires enterprises to grasp the more essential development direction , Bubble Mart creates its own through blind boxes and trendy games IP Kingdom is a way , Of course, there will be better development in other directions .

For example, as the heat of the blind box gradually dissipates , It will more and more test the supply chain ability and the digital operation ability of enterprises , Because it affects the whole consumption process , It is also related to the user's consumption experience . The ability to tightly control the supply chain can also bring strong anti risk ability to enterprises , After the tide fades, it still develops steadily .

The blind box is not blind , And the blind box is not the end of fashion , How to find the essence of the bottom layer through these surface things , And hold on to , That is what those enterprises that follow the blind box tuyere should pay attention to .

Liu Kuang's official account ,ID：liukuang110