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<Research>Citi Survey: POP MART (09992.HK) Customer Base Continues to Expand, Expected to Sustain Growth This Yr
Recommend 9 Positive 28 Negative 9 |
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Citi Research conducted a survey with approx. 1,500 consumers of POP MART (09992.HK) in China, Japan, the US, UK and Australia. The results indicate that POP MART's customer base continued to expand, with 76% of respondents purchasing POP MART's products for the first time in the past year, and 45% being new customers within the last 3 months or less. Only 9% of respondents indicated they would purchase from second-hand platforms. 87% of respondents stated they are 'likely' or 'very likely' to buy POP MART products in the next 3 months. New product series, limited editions and seasonal releases are key factors driving the next purchase. Moreover, gift-giving, collection and personal interest are the main reasons for purchasing POP MART, followed by emotional satisfaction and trend-following. Respondents highly value character design, emotional connection and rarity & exclusivity. The broker expected breakthroughs in IP diversification, product innovation and multi-domain monetization to support sustained growth through 2026. Therefore, Citi Research now set a target price of $415, and rated POP MART at Buy, continuing to list the stock as its top pick in the China consumption sector. AASTOCKS Financial News Website: www.aastocks.com |
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