FOMO and Scarcity Marketing: The Case of PopMart's Labubu

A comprehensive set of vocabulary flashcards encompassing key concepts related to FOMO and scarcity marketing as discussed in the lecture on PopMart's Labubu.

FOMO

Fear of Missing Out; the anxiety or anticipated regret consumer feels when they believe they might miss experiences, products, or opportunities.

Scarcity Marketing

A strategy that creates urgency and demand through limited availability of products.

Demand-based Scarcity

Indicates high popularity or low remaining stock due to strong demand, often exemplified by phrases like 'almost sold out'.

Supply-based Scarcity

Signals that a product is limited in quantity or production, such as 'only 500 made'.

Time-based Scarcity

Restricts the availability of a product to a specific period, often seen in promotions like '24-hour exclusive offer'.

Labubu

A popular character from PopMart, created by artist Kasing Lung, known for its various product lines including vinyl figures and keyrings.

PopMart

A company founded by Wang Ning in 2010, known for licensing IP and selling blind boxes.

The Monsters

A series of children’s books that features Labubu, which gained popularity leading to the creation of collectible figures.

Psychological route of scarcity

The concept that scarcity influences perceived value and uniqueness, leading consumers to desire limited items.

Pop Now!

An in-app flash-sale feature introduced by PopMart to enhance the shopping experience through urgency and exclusivity.

Animated series for Labubu

Planned for late 2025, consisting of 156 episodes, aimed at expanding the Labubu franchise.

Keyring Series Exciting Macaron

The first keyring line released by PopMart in October 2023, featuring six figures plus a secret.

Influencer unboxings

A marketing strategy where influencers showcase products publicly, creating hype and social proof.

Abercrombie’s Creator Suite

An exclusive program that gives influencers early access to limited products, creating urgency and engagement.

McDonald’s Limited Time Menus

Seasonal or sporadic menu items that create urgency and increase customer anticipation.

Pokemon scarcity marketing

A strategy involving controlled supply and emotional triggers to enhance demand for collectible cards.

Operational safeguards

Strategies to ensure fairness and transparency in scarcity marketing to maintain brand trust.

Short-term lift vs long-term trust

The balance between immediate sales boosts from scarcity tactics and potential harm to brand trust over time.