Pop Mart's first home appliance product went on sale recently. The company launched two versions of THE MONSTERS lifestyle series refrigerators, both globally limited to 999 units each with unique serial numbers and priced at 5,999 yuan. The products sold out instantly on Pop Mart's official JD.com and Tmall stores, with the official flagship stating they are temporarily out of stock with irregular restocks planned.
The secondary market tells a different story for speculators. While the highest transaction price reached 20,999 yuan on the first night—representing nearly 250% premium—prices have since dropped to around 6,500 yuan, with some sellers now offering at original price.
Consumer reactions are sharply divided. Some critics dismiss it as "pure智商税" (IQ tax), while supporters argue it's not merely a cooling appliance but a limited-edition lifestyle item serving as social currency. "Each unit's unique serial number makes it an ideal gift," one enthusiast noted.
Evidence suggests Pop Mart's appliance ambitions extend beyond refrigerators. Recruitment posts show the company is actively hiring home appliance specialists, including roles for JD.com store operations, quality experts, and project managers for small appliances.
On JD.com, the official sales channel, over 112,000 users registered for purchase within seven days of the April 24 listing. Pop Mart's appliance store on the platform opened on March 18, 2026, though no products are currently available.
During the initial buying frenzy on April 30, resale prices on secondhand platform Xianyu reached 9,999 yuan. On another platform, the highest bid hit 20,999 yuan, with one white "House of the Monsters" edition actually selling at that price.
Many purchasers admitted buying solely for resale. A Hunan-based buyer told reporters they had no intention of keeping the product. However, by May 1, prices had cooled significantly, with most listings falling below 7,000 yuan. By midday, many sellers were offering below 6,500 yuan, some even at original price.
JD.com's return policy allows undamaged items to be returned within seven days, with one-year full-unit and three-year core-component warranties. Secondary market observers note buyers can avoid losses by returning items if resale prices disappoint.
Critics question the value proposition. "As a loyal fan, 5,999 yuan for a mini fridge seems excessive when full-size refrigerators cost less," one commented. Others suggested achieving similar aesthetics with decorative stickers.
Pop Mart emphasizes design details like seamless curved construction and classic direct-cooling technology optimized for preserving cosmetics and premium fruits. While these features are common in mini fridges, analysts note Pop Mart's strategy cleverly positions the product as a collectible rather than competing on technical specs. The company aims to transition IP from display cabinets to daily life through high-design products that resonate with Generation Z.
Supporters counter criticism by comparing the product to luxury goods. "It's perfect for storing skincare products in walk-in closets," one owner remarked, noting the design rivals premium brands like SMEG, whose refrigerators typically exceed 10,000 yuan. "Each unit's unique serial number makes it an ideal gift."
Financial reports show Pop Mart's 2025 revenue reached 37.12 billion yuan, with THE MONSTERS brand exceeding 10 billion yuan. Plush products became the top revenue category at 18.71 billion yuan. During an earnings call, Chairman Wang Ning announced IP-based small appliances would launch in April.
Analysts observe that plush products overtaking blind boxes indicates saturation in the core product category. Despite maintaining over 30% market share and 55.7% repurchase rate among core users, growth challenges and rising customer acquisition costs persist. The appliance move represents a strategic shift from low-frequency collectibles to high-frequency daily-use items that deepen IP engagement.
Recruitment listings confirm broader ambitions, seeking professionals experienced in refrigerators, kitchen appliances, and quality management for products including retro refrigerators and kitchen gadgets.
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