Pop Mart’s first pop-up at Los Angeles in the US. Art toys are poised to be the new trend
Monetary spendings from the millennials is lifting a wave on trendy collectible art toys that were once from the domain of indie artists. Also known as designer toys, these figurines were typically rooted with creativity and uniqueness from the pop culture. Consumers’ awareness on art toys has reached to a new height continuously, the art toy industry is drawing attentions from worldwide retail markets. Pop Mart, a pioneer to bring art toy designs from 2D to 3D at mass production basis, is also accelerating in its path to the international stage.
On June 18, Pop Mart’s first pop-up store in the US opened their doors at South Coast Plaza in the greater Los Angeles metro area. Together with a cluster of iconic brands at this impeccable retail location, Pop Mart aims widening the appeal of art toys in the US market.
Justin Moon, Vice President of Pop Mart and President of Pop Mart International, comments “The US ranks first in the global toy market. In the art toy industry, the consumer market in the US also has huge potential and influence. The influence of American pop culture on a global scale cannot be underestimated, and young people advocate individual expressions. Pop Mart hopes to light up passion and bring joy, establishing close connections with local young people through more diverse ways.”
In addition to build its offline retail presence, Pop Mart is actively developing its online retail presence thru its global website and three E-commerce platforms. These allow Pop Mart to deliver art toys to 53 countries and regions around the world.
Frost & Sullivan reports that the global art toy retail market grew from $8.7 billion in 2015 to $19.8 billion in 2019, at 22.8% CAGR. By 2024, it is expected to be worth $41.8 billion, at 16.1% CAGR from 2019. The global consumer spending and Compound Annual Growth Rate of this new sector far exceed other cultural and creative industries. Its promising vision gives art toy fans and collaborators with ample confidence to explore and innovate.
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