Making connections

As the market rapidly expands, Top Toy is trying to decode why consumers have such a strong connection to collectible toys. "People want to connect with a toy, whether it reminds them of their childhood, brings joy through its design, or reflects a meme they love — that connection is what drives purchases," said Kong.

She believes this shift is also leading to a more mature, segmented consumer base. "We've noticed more collectors becoming selective, moving beyond impulsive blind box buying to thoughtful curation," she said.

For Wang Wei, a 35-year-old real estate strategist based in Hefei, Anhui province, collecting toys started as a curiosity and quickly became a serious passion.

What began with a casual purchase of a Mickey Mouse blind box in 2022 has grown into a collection of over 1,000 figures — from Pop Mart's iconic Skullpanda and Labubu to designs from other popular brands like Finding Unicorn and Black Toys.

"Back then, it was just about the surprise. You buy a box not knowing what's inside, and that moment of revelation is a thrill," said Wang.

But over time, collecting turned into something deeper for Wang. Today, he seeks out toys that evoke an emotion or feature a standout design.

"Skullpanda's dark aesthetic really stood out in a market full of cute characters. And Labubu — there's something about its slightly mischievous look that feels real," he said.

Wang, however, is critical of the marketing ploy of making products appear scarce or rare.

"Hidden editions, limited runs, inflated secondhand prices — they are all part of a practice that makes collecting feel more like gambling. You've got people lining up, checking weights and sounds, trying to outsmart the system. And then there are the scalpers. It's exhausting," said Wang.

He warned if you're not prepared for such ruses, you can easily get caught out. Wang said he does his homework in advance by checking the weight, texture, and even the sound of a product before making a purchase.

Despite this, Wang continues to support the characters he loves.