Research On POP MART’s Business Model Innovation From The Financial Perspective

The arrival of the big data era has led enterprises to accelerate the pace and expand the scope of transformation and innovation,and the importance of business model innovation has gradually been recognized and discovered by more and more enterprises.In today’s market,every successful enterprise has a unique and effective business model that matches it,serving as a strong support for breaking through and surviving in fierce competition,helping enterprises gain and maintain sufficient advantages in complex environments.However,a unified theoretical system has not been formed yet to study business model research,and further supplementation is needed to analyze cases of enterprise business model innovation from a financial perspective.Therefore,conducting research and analysis on enterprise business model innovation from a financial perspective has both theoretical and practical value.This article takes POP MART as the case study object to sort out the innovation process of POP MART from a regular channel agent to a new startup company with unique brand characteristics today,and then introduces the basic performance of POP MART’s business model innovation based on the "438" framework,starting from the four basic issues of business model,and then according to three financial perspectives,like profit-driven,resource allocation and value creation to analyze the deep changes brought by the business model innovation to POP MART,thus excavate the core competitiveness and shortcomings of the existing business model of POP MART,and then put forward targeted optimization suggestions,in order to provide reference for the future development of POP MART and other enterprises to carry out business model innovation.The study found that in the new design of business model,POP MART has carried out corresponding transformation in three dimensions: profitdriven,resource allocation and value creation.In the profit-driven dimension,POP MART has positioned its target market in the blue ocean market of trendy toys that hasn’t been standardized and unified in China yet,and it target customers in the middle and low end of the consumer population.Combining with its unique value proposition and sales method,it has driven the profitability of the enterprise by "quantity+income".In terms of resource allocation,the strong profit-driven power has brought sufficient monetary capital to POP MART,with less external debt and low financial risk;More importantly,it is enough to support the enterprise to carry out the dual layout of light and heavy assets at the same time.On the one hand,it will expand the intangible asset reserve,continue to recharge the artist pool and IP pool,which can inject vitality into POP MART’s core business.On the other hand,it will continue to increase sales stores and robot stores,establish omni-channel sales network,improve market coverage,and promote the enterprise to maintain or even improve profitability.POP MART’s profit-driven model and resource allocation model have achieved a good cycle of mutual assistance,and have worked together on the value creation dimension,that is,formed the "growth and return driven" value creation model with "win-win" growth rate and return rate.So far,the three dimensions have jointly completed the overall innovation and transformation of POP MART’s business model.It is worth noting that there are still many deficiencies in the innovative business model of POP MART,such as complex IP operation risks,excessive reliance on blind box economy,too much and too fast platform expansion,etc.POP MART must always pay attention to the changes in the market environment,face up to the challenges and difficulties,continue to play its spirit of innovation and reform,and continuously update and improve the existing business model,such as enriching IP types,expanding the audience coverage,building a brand culture system,and improving the blind box sales model and so on.Only by this can POP MART achieve healthy and long-term development in the increasingly competitive and transparent trend toys market.