On a chilly Friday evening in Melbourne, a group of young men bundled in beanies and puffer jackets wait patiently outside a new inner-city toy store, eager for its opening the following morning. Unlike typical queues for designer shoes or tech gadgets, these fans are lined up for PopMart, the largest store of its kind in Australia, situated in the newly developed The Walk precinct on Bourke Street.
Among them is Brandon, excited to spend $2000 on an extensive range of collectibles from PopMart, known for its quirky characters such as Molly, SkullPanda, and Dimoo. He has been collecting Labubus figures, while another enthusiast, Andy, has taken a day off work to ensure his spot in line, showcasing the dedication of fans eager to expand their collections.
The store’s anticipated opening is a significant event, with PopMart’s general manager for Australia and New Zealand, Yuki Wu, expecting over 1000 customers to visit on launch day. The limited-edition figurines retail for $30 to $60, significantly contributing to the parent company’s impressive $654 million profit last year. Remarkably, PopMart projects a 350% increase in profits for the first half of this year compared to last.
As the public becomes increasingly enamoured with collectables, experts speculate that this ‘trinket culture’ is becoming a social phenomenon, particularly among younger generations. According to consumer behaviour specialist Dr Samantha Worthington, collecting items like Labubus taps into a psychological need for excitement and connection. People experience a dopamine rush with each purchase, akin to gambling but at a lower cost.
The significance of small-scale luxuries, or “micro-luxuries,” amidst the ongoing cost-of-living pressures is a resonant theme. As people navigate financial constraints, emotional spending provides a sense of control and connection to cherished memories. Worthington notes that these collectables allow younger consumers to reclaim agency, particularly when larger purchases feel unattainable.
With PopMart’s fifth Melbourne location making waves in the retail landscape, it has become clear that these small items not only cater to nostalgia but also foster a collective identity and community among fans. The excitement surrounding the launch reflects a broader cultural trend where low-cost luxuries serve as both an escape and a form of self-expression, connecting people with their inner child while navigating a challenging economic climate.