"The Reiwa Era Shopping Spree" Erupts! "Overseas Resellers" Form Lines at Tokyo Stores... The True Identity of the "Mysterious Chinese Figures" Amidst a Surge of Fraud and Reselling

1. Introduction: Why Did "Shopping Spree 2.0" Start with Figures?

Many readers may remember the mountains of "rice cookers and cosmetics" that were explosively popular in Ginza and Akihabara in the mid-2010s. Ten years have passed since then, the yen has depreciated further, and inbound tourism has revived. However, this time, the lines are forming not at electronics stores but at toy shops and pop-up stores. The main attraction is not large suitcases but palm-sized blind boxes.

2. What is the Mysterious Chinese Figure "LABUBU"?

LABUBU is a character from the "THE MONSTERS" series created by Hong Kong artist Kasing Lung. Its rabbit-like ears, jagged teeth, and mischievous forest elf setting resonate with the Gen Z's "cute yet creepy" sensibility.

POP MART dominated the market with MOLLY in 2016, followed by hits like Dimoo and Skullpanda. From 2024 to 2025, LABUBU became a social phenomenon known as "一布難求" (hard to obtain even one).

3. Three Reasons Why Overseas Resellers Flock to Tokyo Stores

1. Yen Depreciation and Duty-Free Allowance──With the yen at 20 yen per yuan, prices are often less than half of those in mainland China.

2. SNS Influence──Videos tagged "#TokyoUnboxing" go viral on platforms like RED and TikTok, leading to organized local purchase tours.

3. Wealthy Asset Hedge──Funds flow from stocks and real estate to collectible investments.

4. On-Site Report: The Line on the First Day of the Harajuku Pop-Up

In early July, at a certain location on Takeshita Street in Harajuku. At 7 a.m., three hours before opening, about 80% of the nearly 50 people in line were groups speaking Chinese. Half of them brought large carriers and planned to use international shipping services immediately after purchase. The distribution of numbered tickets ended within 10 minutes, and resale prices were updated in WeChat groups before the store opened, with limited edition colors skyrocketing to 100,000 yen.

5. Layered Player Diagram Supporting the Shopping Spree

6. Black Market and Price Surge: 30 Times the Retail Price is Just the Beginning

On Mercari, the secret "LABUBU CAMP 2025" released in June 2025 was auctioned for 38,000 yen, about 25 times its retail price. In a Hong Kong auction, a life-sized figure was sold for 1.08 million yuan (approximately 22 million yen), further fueling the "cashing out" by overseas investors.

7. Thorough Analysis of Fake and Fraud Techniques

• Fake Site Redirect Type: Attaching official-looking URLs and QR codes on SNS to steal credit card information.

• High-Precision Copies: Produced in Yiwu, Zhejiang Province, even hologram seals are replicated. Indistinguishable by appearance alone.

• Switch Fraud: After purchasing a genuine product, replacing the contents with a fake and returning it with only the box.
  
  The AI authenticity verification service "Fake Busters" has started an image verification service for LABUBU, providing an appraisal report for 300 yen per case.

8. Corporate and Government Responses: From "Dark BOT" Measures to Legal Revisions

POP MART JAPAN has introduced a lottery app for numbered tickets, limiting purchases to two per person with ID verification. In April 2025, the Consumer Affairs Agency announced a "Caution on Reselling Limited Toys" and proposed regulations similar to the "Act on Prohibition of Unauthorized Resale of Tickets" in a public comment on amendments to the Act on Specified Commercial Transactions. In June, the Tokyo Metropolitan Police Department's Community Safety Division arrested 15 members of a resale group on suspicion of violating the Antique Dealings Act.

9. Cultural Perspective: The Era of "Buying Stories" in Art Toys

Chinese Gen Z values "IP over brands" and "experience over ownership," loosening their purse strings when the world of the work aligns with self-expression. LABUBU's dark fantasy setting, which offers ample room for self-projection, has boosted its popularity. This marks a decisive shift from the functionalism symbolized by the "appliance shopping spree."

10. Comparison with the "Appliance Shopping Spree" of the 2010s

11. Actions Japanese and Overseas Consumers Should Take

1. Use Official Channels──Only through POP MART stores or authorized dealers.

2. Utilize AI Authentication──Verify holograms and serials through image matching.

3. Cross-Border E-commerce Insurance──Choose delivery with damage compensation.

4. Curb Dependence on Resale──Wait patiently when supply exceeds demand.

12. Outlook: Bubble or Stability?

Experts predict that "by 2026, the market will enter a price adjustment phase due to oversupply," while POP MART aims for listing on the Shanghai Stock Exchange STAR Market, targeting to become the "second Disney" through IP expansion. The keyword is "Experiential Retail × Digital Authentication". If efforts to engrave authenticity and ownership on the blockchain via NFTs and AR integration accelerate, the market is likely to expand again.

🔗 List of Reference Articles (External Links, in Chronological Order)

• Bunshun Online "The Outbreak of 'Reiwa Shopping Spree'! Overseas Resellers Line Up at Tokyo Stores... The Truth Behind the 'Mysterious Chinese Figure' Amidst Fraud and Resale" (2025-07-09)

• livedoor News Article on the Same Topic (2025-07-09)

• talk.jp "Character from China 'LABUBU' Draws Huge Lines in Harajuku, Life-Sized Figure Sold for 22 Million Yen" (2025-07-04)

• PR TIMES "AI Authenticity Verification 'Fake Busters' Begins LABUBU Appraisal" (2025-07-03)

• United Daily News/Record China "Popular LABUBU Overseas, Counterfeits Flooding the Market" (2025-06-12)

• Inbound Lab "Latest Trends in Chinese Inbound: The Future of 'Shopping Spree 2.0'" (2025-05-30)