Mystery box products have largely migrated to the U.S. from China, where the phenomenon ballooned into a multi-billion-dollar business over the last few years. The Chinese toy company Pop Mart, for instance, has built an empire out of bundling figurine into “mystery toy” boxes. Those boxes sell for about $9 each, and they have become the company’s... See more

3. Why it works so well

1. No total loss. Whether it’s a vinyl bunny or a $2 lipstick, you always get something. That safety net invites play.


2. Ritual over high-risk. Open the box, tap the wheel, post the haul—tiny ceremonies that punctuate a day. A Pop Mart fan might whisper “Please let it be the sleepy bear...” as they unbox under lo-fi music on

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2. What "softcore" gambling looks like

• Pop Mart. Twelve cute figurines per series, one or two “secret” variants. Every $10 box is a sure prize, but maybe not your prize. Collectors film whisper-tone unboxings, trade duplicates, and keep coming back—nearly half repurchase within a year, according to the company.


• Shein & Temu. The toys are tops and

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