Sell something useless

Apparently Labubu, the cute plushie with a wicked smile, has become a thing.

Wang Ning, the founder of Pop Mart, believes in selling what is “useless”. One thought experiment he uses to illustrate this idea goes like this:

Would we sell as many Molly toys if we added a USB flash drive to them?

That would certainly give the toys some kind of “use”. But that also reminds potential buyers that they do not actually need that “use”. Who really needs another USB thingy after all?

A similar idea is being discussed in Japan’s retail industry, where businesses are said to be transitioning from selling “mono” (もの) to selling “koto” (こと). Both words translate to “things” in English. The distinction lies in that “mono” means a tangible object. While “koto” means something intangible, for example, an event or an experience.