With over 30 limited-edition designs from iconic IPs like Disney and Pokemon, Miniso’s latest pop-up taps into Southeast Asia’s craze for blind boxes.

On December 7, Miniso debuted a festive treasure trove at Singapore’s Funan mall, unveiling its first IP-focused pop-up store in the city-state. Packed with blind box collectibles and merchandise from some of the world’s most beloved characters, the store is part of the 2024 Miniso Blind Box Carnival, following its initial stop in Indonesia. Open until January 5, the Funan pop-up blends fandom, exclusivity, and the thrill of discovery into one vibrant retail space.

The 70-square-meter store houses over 600 products, including Miniso’s collaborations with renowned IPs like Disney, Pokemon, Teletubbies, and Harry Potter. Fans can also snag limited-edition finds, including the Kandyland-themed blind box making its exclusive debut in Singapore. Sanrio’s Latte Baby, another fan favorite, is also featured prominently. Miniso highlighted that more than 30 limited-edition blind boxes are on display, drawing collectors from across the city.

The pop-up’s launch day was nothing short of a spectacle. Thousands of fans were said to have swarmed the store, snapping up exclusive merchandise and setting a sales record for Miniso’s overseas pop-ups. The timing seemed hardly a coincidence—December’s festive buzz, driven by Thanksgiving, Christmas, and shopping events like Black Friday and Cyber Monday, creates prime conditions for retailers. Riding the wave of heightened consumer spending, the Funan pop-up leveraged the season’s momentum to amplify enthusiasm for blind boxes.

This event is more than just a holiday stunt. It also underscores Singapore’s role in Miniso’s Southeast Asian strategy. The company already operates 18 stores in the city-state, spanning key locations like Jurong Point, Lucky Plaza, and VivoCity. In 2023, Miniso ventured into thematic storefronts, debuting an IP collection store at VivoCity and a Loopy-themed shop at Changi Airport. The Funan pop-up builds on this approach, making the brand’s experiential retail model even more accessible.

Blind boxes: From Japan’s lucky bags to China’s pop toy giants

At the heart of the Funan pop-up is the blind box, a phenomenon rooted in Japanese “fukubukuro” or lucky bags, where buyers get discounted mystery items. The concept evolved into the now-iconic blind box—a sealed package containing a surprise collectible figurine. Each box in a series offers different designs, often featuring rare editions that spark frenzy among collectors.

This isn’t a niche hobby anymore. Blind boxes have become a cultural and commercial force, particularly in China. In 2021, they emerged as the largest segment in the country’s pop toy market, valued at RMB 9.7 billion (USD 1.4 billion), according to Statista. Forecasts project a CAGR of 34.3%, ballooning the blind box market to RMB 42.4 billion (USD 6.1 billion) by 2026. In response to this growth, Miniso has leaned heavily into the category, releasing over 200 blind box products annually and selling 30 million units in just the first nine months of 2024.

Blind boxes are prized for their ties to popular IPs, which add exclusivity—and often a premium price tag. In China, a single box retails for around RMB 69 (USD 9.7), while a full set can cost up to RMB 800 (USD 112.4). Beyond the figurines, these boxes tap into the universal thrill of unwrapping surprises, blending nostalgia with novelty.

Southeast Asia: A playground for pop culture

Miniso isn’t alone in recognizing Southeast Asia as a booming market for collectibles. Pop Mart, the Chinese blind box giant, has dominated the region. By June 2024, its Southeast Asian revenue surged to RMB 560 million (USD 81.4 million), a 478.3% year-on-year growth. The region accounted for 41.4% of its overseas business, outpacing East Asia (35.4%), North America (13.2%), and Europe (10.3%).

Pop Mart’s success stems from its IP strategy, featuring characters like Labubu that have captured fans’ imaginations in countries like Thailand. Similarly, Miniso has partnered with over 100 IPs to date, including Barbie, Lotso, and Chiikawa, bolstering its brand appeal across diverse audiences. The emphasis on IPs isn’t just about branding—it’s a cornerstone of Miniso’s global strategy, alongside localization and supply chain advantages.

Miniso’s venture into collectibles goes deeper with its sub-brand, Top Toy, launched in 2020. Targeting premium collectors, Top Toy features an array of offerings, including blind boxes, figurines, doll models, and building kits. Collaborating with high-profile IPs such as Bandai and Disney, Top Toy further cements Miniso’s position in the global collectibles arena.

#BlindBoxCraze #PopCultureCollectibles #MinisoIPPopUp #SoutheastAsiaTrends #HolidayShopping