Monetary spending from the millennials is lifting a wave on trendy collectable art toys that were once the domain of indie artists. Also known as designer toys, these figurines were typically rooted in creativity and uniqueness from pop culture. Consumers’ awareness of art toys has reached a new height continuously, and the art toy industry is drawing attention from worldwide retail markets. Pop Mart, a pioneer in bringing art toy designs from 2D to 3D on a mass production basis, is also accelerating its path to the international stage.
On June 18, Pop Mart’s first pop-up store in the US opened its doors at South Coast Plaza in the greater Los Angeles metro area. Collaborating with a cluster of iconic brands at this impeccable retail location, Pop Mart aims to widen 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 worldwide.
Frost & Sullivan reports that the global art toy retail market grew from $8.7 billion in 2015 to $19.8 billion in 2019, at a 22.8% CAGR. By 2024, it is expected to be worth $41.8 billion, at a 16.1% CAGR from 2019. This new sector's global consumer spending and Compound Annual Growth Rate far exceed other cultural and creative industries. Moreover, its promising vision gives art toy fans and collaborators ample confidence to explore and innovate.
Over the past decade, Pop Mart has built a wide platform for art toys by focusing on discovering new artists, IP development and operations, consumer reaching, promoting art toys, and business incubators. Pop Mart has over 350 stores globally, and with the strong support of its supply chain, Pop Mart continues to lead the industry in introducing new art toys to the mainstream.