When "self-indulgent consumption" shifts from trend to norm, consumers remain willing to pay for emotional value but have significantly lowered their tolerance for excessive markups. Under the broader trend of rational consumption, only genuine value can withstand the test of time and earn long-term consumer trust.

On the evening of November 6, during a POP MART live stream, a staff member held up a blind-box keychain and remarked, "Wow, selling this for 79 yuan is a bit (expensive)," to which another replied, "Don’t worry, someone will buy it anyway." This exchange sparked widespread attention, with netizens calling it a live-stream "blunder." POP MART later acknowledged it as a "genuine live broadcast incident." The company’s stock price subsequently plunged by 8%.

The strong public reaction stems from how these offhand remarks inadvertently tapped into consumers’ underlying doubts. If even internal staff instinctively feel the product is "a bit pricey," how can consumers justify paying such high premiums? The phrase "someone will buy it" further exposed a brand mindset that treats loyal fans as "cash cows." Ironically, the controversial 79-yuan keychain blind box sold out on multiple platforms shortly after the incident—proving the prediction true while highlighting the complexity of modern consumer behavior.

As a leader in blind-box economics, POP MART sells not just physical products but emotional experiences and IP value. However, as the gap between actual product value and emotional markup grows more apparent, consumer skepticism deepens.

Facing backlash, POP MART responded the next morning by stating it "would not fire the employees involved," a stance that won public approval. For a company whose core appeal lies in emotional value, such humane internal culture may resonate more than any marketing slogan. Yet this alone is insufficient.

To recover from this crisis, POP MART needs more than PR fixes—it must redefine its brand value. This is especially critical given its Q3 2025 earnings report, which showed a staggering 245%-250% year-on-year revenue growth, with overseas sales surging 365%-370%. The company must clarify whether its profits come at the cost of exploiting consumers.

At its core, POP MART must answer: What exactly does the 79-yuan price tag represent? The cost of zinc alloy and resin materials, or an emotional premium that truly justifies the price? The answer will determine how far POP MART—and the blind-box economy at large—can go.

From the controversy over Li Jiaqi’s "79-yuan eyebrow pencil" to POP MART’s "79-yuan keychain," recurring price sensitivity reflects a broader market shift toward rationality. To regain trust, POP MART must go beyond symbolic gestures and engage in transparent cost breakdowns, rational pricing strategies, and sincere dialogue with consumers. Only then can it prevent its popularity from turning into a bubble.