First, there is a lot of nuance to be had here, but I’d rather leave the nuance to the discussion than blunder-on laboriously, trying to unhook myself from a fence that I may be hopelessly caught on…
So, I just learned about the “Lipstick” effect. I’m not going to give a full historic description on this, but it’s something that’s been noticed throughout history, where in times of economic downturn or extreme emotional duress (NYC after 9/11), there is a significant uptick in spending on makeup (originally) / luxury items (now). It’s suspected buyers are indulging to feel better about how they look/feel in the situation.
They might be buried by crippling debt, and while saving $200 won’t make a dent in that debt, but buying an excellent steak dinner, or a fancy dress is a much better emotional payoff. We are emotional creatures, after all.
Some credit it for Labubu’s rise, but what about the current PkMn market?
I don’t think Vs Set and JP exclusives for example, are getting a Labuboost, but I do wonder about some of the bigger well-known cards like umbreon, gengar, and of course, modern chase. How much is splurge for no other reason? Or is it limited to Labubu and Kobe steak?
If the overall hypothesis is that some people are spending loads on Pokemon to fill an emotional hole in their heart/soul due to difficult times and existential crises, I think the answer is, and will always be, yes.
isnt trying to fill that empty hole trying to capture even a small bit of that carefree childhood nostalgia the whole reason we spend hundreds if not thousands on shiny cardboard?
Well, it’s not a hypothesis*, but a question or subject to explore.
My question and the topic is, to what degree and what areas of the hobby if any, are people abandoning financial responsibility to buy for emotional reasons, but not as an investment. High-risk financial behavior like gambling seems to increase in tough economic times as well, BUT it’s a different impetus. The lipstick effect is specifically about looking better, or feeling better about your life, not getting a financial return. Like I said, there’s nuance.
*Not trying to be elitist, just trying to be extra clear about my intent. Classically, a hypothesis is a theory that can be tested with an experiment.
Yes, but we don’t necessarily do it when we can’t pay our rent, or have crippling medical debt. Is any part of the hobby right now fueled by that behavior?
Some categories of cards are probably a little more Chanel No. 5 Hand Cream-esque than others (= cheaper) but it’s probably happening to a decent extent across the board.
The point of pokemon is to buy it to make you feel better. People abandon financial responsibility all the time. Ask @wisewailmer , ask @eeveeteam , heck ask @triple (Especially ask triple he might need a intervention)
Pokemon is meant to be a hobby where you can buy stuff you want, when you want, how you want. If I want to buy a card and rub my nuts all over it (this is a quote by pfm btw on the basis of altering cards) I can do that. If I want to buy a rayquaza and get myself 20,000 into credit card debt I can. Every single square cm of the hobby have people abandoning financial responsiblity and buying stuff they want, and theres no reach where its safe to assume it isn’t.
This is litterally the basis of pokemon (excluding the joy passion collecting space yadayada)
if the question is more about “is pokemon being used as an escape from the cruelty of the world for some people”, of course that happens but it happens with almost anything. Food, gambling, video games, pretty much any form of pleasure/happiness. Are there some people willing to give up everything from money to relationships to even their own family … yes there are. Everyone probably has heard or read about a case of such things happening.
are the current economic/political climate causing people to abandon responsibilities for short term happiness. yes its nothing new. happens all the time.
Where is the line in the sand? Financial responsibility generally flies out the window in collectible hobbies. Most people spending thousands of dollars on Pokemon are not “financially responsible,” and yet we have hundreds of those community members here on this forum.
Just a month ago, we had this example…
My conclusion was that OP is steps away from bankruptcy unless he wants to pay off debt for the next 15-20 years… because of Pokemon.
Some/most here seem to have bought most of their collection back when people paid you to take their cards off their hands. Crazy thing is if you see someone in most recent purchase thread showing a $50k purchase, they probably sold cards to fund that with a cost basis of $5000 or way less
The point of pokemon is to buy it to make you feel better.
Yes… and the OP is explaining why that may possibly be. It’s not overthinking it in the slightest. I don’t mean to be rude, but trying to shut down the conversation with a weird crass analogy plus you can’t even take out a credit card anyways is kind of anti-intellectual and not the point of the thread…
Sure, we have many folks like that. But the post-2020 crowd is alive and well too, and their willingness to spend hundreds or thousands of dollars on Pokemon seems to be unshaken by the higher prices these days.
