'There's a sense of real FOMO!' Has the Labubu craze hit South Africa?
The dolls have become an international sensation, with some people making big money from trading them.
CapeTalk's John Maytham speaks to retail analyst and futurist Bronwyn Williams from Flux Trends.
Listen below:
In the past we had Cabbage Patch Kids and Beanie Babies - now it's the turn of Labubu dolls.
These quirky, fairytale-inspired plush toys created by Hong Kong artist Kasing Lung are the must have accessory of the moment.
Something that adds to the quirkiness of the craze, is that they are sold sealed in 'mystery boxes', so you don't get to choose which one you're buying... and some rarer ones have a much higher value than the others.
Williams says this feeds into the gambling psychology of "betting on anything and everything..."
"It's this intense desire to be part of this craze... to want what other people want... celebrities are getting in on the trend too - but there's also the sense of real FOMO, of missing out if you're not capitalising on it too."
- Bronwyn Williams, Retail Analyst and Futurist - Flux Trends
There's also an element of addiction due to the 'betting and luck' aspect of purchasing a Labubu doll - but ultimately, Williams says it comes down to being part of the trend.
"The prime attraction here is for status, ultimately... so status can be conveyed by having a rare one of these things - and status can also be conveyed by having wealth."
- Bronwyn Williams, Retail Analyst and Futurist - Flux Trends
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Scroll up to the audio player to listen to the discussion.