Last year a giant Labubu Christmas tree was unveiled in Chengdu, China. (Photo by Yang Haiyong/VCG via Getty Images)
VCG via Getty Images
If Labubu has been the story of 2025 then the elf-like figure might also be the gift that saved Christmas, as shoppers turn to so-called mystery boxes and blind boxes for a value slice of discovery.
With analysts predicting tougher times for the toy industry this holiday season, the breakout success of Labubu has prompted brands and top retailers to turn to gifts that keep the recipient guessing.
Though you can hardly have escaped it, the rise of Labubu began as a niche obsession among Asian collectors and has since spilled out into the global mainstream, turning a once-obscure fuzzy figure into a cultural phenomenon.
Labubu’s oddball charm and its ‘ugly-cute’ appeal has helped propel it from store shelves to resale platforms where limited editions can fetch hundreds or even thousands of dollars. That surge in customer appetite has coincided with a broader boom in blind- and mystery-box retailing, a format built around deliberately concealed packaging that keeps buyers wondering, and importantly returning, in the hopes of completing a set.
The elf-like creature from Chinese toy retailer Pop Mart went viral in part because of advocacy from celebrities like Rihanna, Dua Lipa and Kim Kardashian and as demand for the genuine Pop Mart version of Labubu outpaced supply in the U.S., the market has opened the door for other players to ride the wave.
This holiday season, major retailers have filled their aisles with lower-priced, easier-to-find alternatives.
Walmart And Target Ride Labubu Wave
Chains such as Walmart and Target are promoting a broadening array of mystery figures and collectible cards, while U.S. toymakers including Hasbro and Mattel have adopted the concept for familiar brands, rolling out Furby and Barbie in opaque boxes intended to tap the same thrill of discovery.
Blind boxes operate on a simple premise: buyers cannot see what they’re getting until they open it, encouraging repeated purchases and a low-stakes sense of suspense.
Indeed, one part of the appeal is that a number of brands offer sub-$15 boxes, positioned as accessible gifts in an era of rising toy prices, partly inflated by tariffs on China, where most of the industry’s production still emanates.
And the format’s addictive appeal has turned it into one of the season’s more resilient categories, especially as retailers hesitate to bet heavily on higher-ticket toys amid ongoing consumer caution.
Retailers like China’s Miniso are focusing on mystery boxes this holiday season. (Photo credit should read CFOTO/Future Publishing via Getty Images)
CFOTO/Future Publishing via Getty Images
Labubu itself remains largely absent from conventional gift guides, not because demand is weak, but because supply is unpredictable and sell-outs are near-instant. Its scarcity has also nudged consumers toward chains like expansionist Chinese retailer Miniso, which now counts more than 200 U.S. locations and specializes in blind-box collaborations.
Miniso has been expanding its mystery boxes, which it sells online, in-store and through kiosk machines, as demand for them outpaces other categories and shoppers enjoy the small hit of delight that comes from unveiling a surprise.
Labubu And Collectibles Xmas Hit
Collectibles as a whole, including another growth sector in trading cards, have been one of the few bright spots in a toy market that has softened over the past two years and analysts have warned of total sales edging lower during November and December compared with last year.
For specialty retailers, however, this year marks a turning point. Companies such as Miniso, Ohku and Canada-based Showcase, which is one of the limited U.S. sources for authentic Labubu items, are expanding across North America.
Ohku has launched a new series of blind boxes in time for the holidays and plans to broaden its online distribution, while Showcase, which has 41 U.S. locations, is preparing new drops from Sonny Angel, another cult collectible brand, early December.
As a result, blind boxes are set to dominate toy and collectible sales this holiday season, eclipsing what was a relatively modest category only a year ago.
For retailers banking on small indulgences rather than blockbuster toys, the lasting impact of the Labubu craze is that mystery may prove to be the surprise Christmas hit.
Source: https://www.forbes.com/sites/markfaithfull/2025/11/17/after-labubu-all-shoppers-want-for-christmas-is-a-surprise-mystery-box/
