The Fascinating World of Labubu: A Trend Beyond Collectibles

Understanding the Hype Around Labubu

I'm pretty sure you’ve seen it somewhere; goodness knows I have! Maybe on TikTok, in a sneaker store, or in the hands of someone you follow online. It’s got wild hair, a mischievous grin, big cartoon eyes, and tiny fangs. They call it Labubu. On the surface, it looks like just another collectible toy. However, Labubu is much more interesting. It offers a window into the emotional psychology and behavior of a crucial consumer demographic.

Why? Because this isn’t just a trend. This is a captivating case study that I’m excited to share. It demonstrates how hype, identity, scarcity, and emotion intersect to create a buying frenzy that feels less like commerce and more like culture. If you don’t quite understand the fuss, let me break it down. Behind its plush exterior lies a formula I’ve seen play out time and time again.

The Emotional Psychology Behind Labubu

During my 18.5 years with Adidas and Nike, I learned that this formula is key. When used effectively, it doesn’t just sell products; it builds real movements. What makes Labubu so fascinating is that it condenses all these principles into one small, strange, and emotionally magnetic object.

The first key element to understand is the power of uncertainty. Labubu figures are often sold in blind boxes, so you don’t know which one you’ll get. This mechanic triggers what psychologists call the variable reward loop. It’s the same loop found in gambling, gaming, and even our endless scrolling of social media. The thrill doesn’t just come from the act of acquiring; it actually resides in the “maybe.” The emotional tension between what you hope for and what you might receive is powerful and highly addictive.

Identity Matters: Why Labubu Resonates

Then there’s the element of identity. Labubu isn’t just cute; it’s also cool. It has been embraced by artists, stylists, musicians, and celebrities who signal to their audiences that this little creature represents something meaningful. From BLACKPINK’s Lisa to Kim Kardashian, Labubu has become an avatar for playful rebellion and quirky creativity. It doesn’t simply sit on your shelf. It sends a message about your taste, your tribe, and your belonging—communicating that you’re in the know.

People don’t want to buy what everyone else has. They seek something that makes them feel different, seen, and expressive. Labubu delivers that charm. It’s not your average mass-market smiley face. Instead, it’s sharp-toothed, mischievous, and a bit hard to pin down. This ambiguity is precisely why it resonates. People project their own meanings onto it, making it a personal statement.

The Impact of Scarcity

Now, let’s discuss scarcity. Pop Mart, the company behind Labubu, has mastered the art of engineered scarcity. Limited drops, special editions, and region-exclusive variants create a market that always feels just out of reach. This perceived rarity, even if manufactured, compels people to act faster and desire more. They are willing to spend to obtain it.

What fascinates me most about Labubu is its emotional role. It evokes nostalgia and sparks feelings. Its proportions, facial expression, and slightly off-kilter design feel like a mash-up of childhood memories: a little bit of Where the Wild Things Are, a little bit of Ghibli, and a sprinkle of mischief and melancholy—all rolled into one.

In our increasingly anxious, fast-paced, and digital world, Labubu feels physical and personal. It provides a sense of grounding. Holding it makes people feel calm and connected to something simpler and more human.

The Behavior Behind the Buying Frenzy

When you combine uncertainty, identity, scarcity, and emotion, you get behavior that may seem irrational at first glance. People queue, trade, and sometimes spend thousands to own a Labubu. However, this makes perfect sense when you consider that it’s not about logic; it’s about feeling something. This emotional drive is the real engine behind modern buying decisions, whether we want to admit it or not.

I’ve witnessed this same emotional logic in action over many years while working on sneaker drops, streetwear launches, and retail experiences with brands like Adidas and Nike. It’s not exclusive to toys; Labubu simply strips it down and makes it easier to see.

Key Takeaways for Brand Builders

If you’re building a brand, remember this: people don’t just want to buy things. They want to feel something. They seek belonging, the thrill of the chase, and a means to express who they are. They want to know that what they’re holding—what they’re spending money on—holds value beyond what’s printed on the tag.

Labubu dominates the market not because of ad spend or distribution methods but because it speaks fluent human. It understands that emotional design, scarcity, and cultural signaling are not tricks; they are the whole game.

If you’re watching from the outside, still asking, “What’s the big deal with this weird little toy?” I assure you, that’s the answer.

By Nick Gray, Founder, IGU Global