Fluffy toys are tapping into a new blue ocean of emotional consumption with their soft and cute appearance.
Jellycat's Bashful Bear sells over a million units globally each year, the Labubu series co-branded with SpongeBob from POP MART sold out 10,000 pieces on Tmall in just 3 seconds, and the Butter Bear from Thailand has quickly gained popularity, with online volume exceeding 1.4 million in 2024 and social media interactions reaching 150 million.
This explosion is by no means accidental; its essence is a form of emotional self-rescue led by adults themselves.
According to statistics, adult consumers account for over 70% of the plush toy market in China, with 64% of buyers explicitly stating that their core demand is to &#34;alleviate feelings of loneliness.&#34;
In times of economic downturn, this demand becomes incredibly reasonable; real life is too cold, and only the soft fur in hand has some warmth.
What new category growth opportunities will this &#34;fluffy&#34; driven consumption trend bring? Has it involved new consumer groups, unlocking a larger market?
<h3>Fluffy Economy, New Version of the Lipstick Effect</h3>
During economic downturns, the sales of light luxury items like lipsticks and perfumes actually rise.
While this pattern still occurs in the beauty sector, the &#34;fluffy economy&#34; is undoubtedly a new track with astonishing growth potential.
Statistics show that the global plush toy market size has grown from 63.93 billion yuan in 2020 to 77.697 billion yuan in 2024, with a compound annual growth rate of 9.2%. The Chinese market is particularly significant: the plush/toy market size is expected to reach 4.24 billion yuan in 2024, with projections to exceed 7.723 billion yuan in 2025.
The fundamental reason is that as the overall environment weakens, people's mental stress increases, and small light luxury items that bring joy can better serve as emotional outlets.
What seems like childish plush toys are, in fact, a soft shield for adults against alienated lives.
A study by Nature pointed out that people's preference for plush textures is written into their genes. Plush materials stimulate the secretion of oxytocin, which is 32% higher than the baseline, while cortisol (the stress hormone) levels drop by 28%.
From this perspective, purchasing plush toys is more like seeking a &#34;tangible form of psychotherapy.&#34;
This consumption craze, driven by biological instincts, is pushing the reconstruction of symbolic value and is penetrating various categories across multiple tracks.
Taking home textiles as an example, in the first half of 2023, sales of plush fabric products on Tmall surged by 29.2%, with the 200-400 yuan price range experiencing the most significant growth. Douyin e-commerce also aligns with this characteristic, with &#34;fluffy&#34; textures being the largest selling point in 2024 and maintaining a high growth rate.
The change in consumption structure is even more disruptive; as mentioned at the beginning, adult consumers now account for over 70%, with post-2000s making up 43% and post-1990s 36%, completely breaking the traditional perception of &#34;children exclusive.&#34;
The fluffy economy is transforming biological instincts into emotional symbols, which in turn translates into commercial increments.
<img src="https://imageproxy.pbkrs.com/https://assets-v2.cbndata.com/prod/cbndata/cms/content/img/1897114219372974081.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://assets-v2.cbndata.com/prod/cbndata/cms/content/img/1897114219372974081.png"/> Image source: Li Jin
<h3>Fuzzy Texture, Touchable Healing</h3>
High permeability is the biggest feature of the plush economy, with unprecedented business volumes being leveraged across multiple categories such as home, fashion, and health.
For example, home products can completely transform into emotional healing stations.
The American brand Squishmallows' memory foam plush pillows surpassed $1.2 billion in sales in 2023; Japan's Qoobo mechanical tail pillow simulates animal breathing rhythms, selling 2 million units in three years. These validate the effectiveness of introducing plush textures into home goods.
Plush elements are also reshaping the value logic of the accessories market.
In addition to influential cases like Jellycat, the premium rate for the BE@RBRICK and Medicom Toy collaboration exceeds 400%, while the second-hand price premium for KAWS×Uniqlo figurines exceeds 600%, confirming the commercial value of plush materials.
The crossover of plush products with smart technology creates numerous opportunities for healing + health management.
The Dutch brand Sleepy Hugs' plush sleep aid pillow raised $2.7 million in crowdfunding, and the British Teddy the Guardian plush toy, equipped with medical sensors, assists in children's health monitoring.
It is entirely reasonable to expect that this sector will generate numerous new opportunities for various segmented populations: whether for health management aimed at adults or developmental monitoring dolls for teenagers or infants, it represents a brand new blue ocean market.
<h3>Men Love Collecting, Middle-aged and Elderly Seek Companionship</h3>
Men and the middle-aged and elderly are two groups with significant growth potential in the plush toy category.
For male consumers, the collection and investment attributes are the primary motivations driving consumption.
Products with cultural symbols and IP collaborations are more popular. The Disney StellaLou plush pendant has over 300 million views on Douyin, and the Labubu series from POP MART has a premium rate of 4-5 times on Xianyu, with some limited editions being speculated to 2000 yuan, nearly 30% of buyers being male users.
Therefore, collaborating with trendy brands and anime that male consumers are enthusiastic about—such as Supreme and Marvel—to launch co-branded or limited edition products can effectively stimulate purchasing desire through scarcity.
The sales of the POP MART collaboration series with &#34;Ne Zha: The Devil's Child&#34; exceeding 100 million is a great example.
For the middle-aged and elderly, emotional companionship is a more prominent need.
As mentioned earlier, the Japanese Qoobo mechanical tail pillow's plush surface and interactive design play a crucial role.
Additionally, the British Teddy the Guardian toy bear, although aimed at infants, can apply similar ideas to products suitable for the elderly, meeting their dual needs for safety and practicality.
From the consumption habits of these consumers, penetrating through offline channels may be more effective. For example, setting up stores or display areas in community activity centers where the elderly are more concentrated, providing physical touch and trial opportunities, can effectively enhance purchasing willingness
<h3>Li Jin's Commentary</h3>
Plush toys are also changing the nature of business.
The cultural tourism business is a typical example. For instance, the Gansu Provincial Museum's treasure, the bronze galloping horse, has inspired the creation of &#34;Green Horse&#34; cultural products after young people discovered its unique toothy expression, leading to a wave of hot sales.
Many scenic spots have upgraded their offerings—Hui Min Street in Xi'an has set up a plush cultural workshop where visitors can personally make &#34;Yangrou Paomo&#34; pendants, transforming consumer behavior into cultural experiences.
Customers entering the memorial hall are not just consumers but also experiencers. In an already booming market for cultural products, interactive purchasing experiences can further stimulate consumers' enthusiasm for these products.
If we broaden our perspective, people's love for plush toys is itself a kind of performance.
The popularity of the Xiaohongshu note &#34;#AdultsShouldPlayWithToys#&#34; has exceeded 9 million, with countless adults sharing their recent toy purchases and different ways to play with them, including dressing them up, grooming their fur, and applying blush, among others.
People bring the realities of their lives into the plush world and find their spiritual world within it.
This consumer transformation themed around &#34;plush&#34; may signify one thing: the more solid the business moat, the more it may be constructed from the softest materials.
This article is reproduced from Li Jin (ID: Finding_Gold) with authorization. All rights reserved by Li Jin. No translation or reproduction is allowed without permission.
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The plush toy market is becoming a new blue ocean for emotional consumption, with adult consumers accounting for over 70%, primarily seeking to alleviate feelings of loneliness. The global plush toy market is expected to reach 77.697 billion yuan by 2024, while the Chinese market size will exceed 7.723 billion yuan. The plush economy is seen as a new consumption trend amid economic downturns, with the purchase of plush toys regarded as a form of psychological therapy that stimulates the secretion of oxytocin and reduces stress levels

- The plush toy market is experiencing significant growth, driven by adult consumers seeking emotional comfort, with over 70% of buyers motivated by loneliness relief.  
- The global plush toy market is projected to grow from 639.3 billion yuan in 2020 to 776.97 billion yuan by 2024, with China's market expected to reach 77.23 billion yuan in 2025.  
- This trend indicates a shift in consumer demographics, as adults, particularly younger generations, increasingly embrace plush toys as symbols of emotional support and therapeutic value.

Is the next breakout point for consumer goods "fluffy"?