POP MART Discloses Quarterly Report for First Time: Q3 Revenue Increased by 75% and Continues to Grow Despite Market Trends
The Chinese toymaker Pop Mart released its third-quarter operation data at the Hong Kong Stock Exchange on the evening of Monday, marking the first time that the company has disclosed quarterly data since its listing. The announcement shows that overall retail revenue for Pop Mart has increased by 75%-80% year-on-year in the third quarter of 2021.
Pop Mart’s Q3 performance continued its strong growth momentum in the first half of 2021. The retail stores revenue increased by 40%-45% year-on-year, the revenue of Pop Mart blind box vending machines increased by 130%-135% year-on-year, the e-commerce platform revenue increased by 125%-130% year-on-year, and the revenue from wholesale and other channels increased by 125%-130% year-on-year.
According to China’s National Bureau of Statistics, in the third quarter of 2021, the total retail sales of consumer goods in China reached 10,615.3 billion yuan ($1.66 trillion), up 5% year-on-year, of which the national online retail sales has increased by 7.6% year-on-year. It can be seen that despite the influence of the epidemic, Pop Mart’s income has maintained rapid growth.
In terms of private traffic operation, the revenue of Pop Mart blind box vending machines has increased by 130%-135% year-on-year during the third quarter, exceeding the growth rate in the first half of 2021. In the first half of 2021, the blind box vending machines have created revenue of 325 million yuan, with a year-on-year increase of 101%.
SEE ALSO: Secondhand but Grand: The Craze of Trading Pop Mart Blind Boxes in China
In terms of offline stores, the announcement disclosed that up to September 30, 2021, Pop Mart had opened 35 new offline stores in the Chinese mainland, and the number of stores has increased from 215 on June 30, 2021 to 250 on September 30, 2021. During the third quarter, Pop Mart opened 210 new robot shops, and the number of robot shops has increased from 1,477 on June 30, 2021 to 1,687 on September 30, 2021.