Why Beijing Winter Olympics mascot Bing Dwen Dwen is popular?

Foshan, Guangdong, 10th Feb 2022, ZEXPRWIRE, From the opening ceremony to the current hot sale, there is no doubt that the Winter Olympics has become the strongest topic maker.

The scene of “Bingdundun shaking the snow” in the Winter Olympics promotional video successfully captured the hearts of netizens and was promoted to the “top stream” of the Winter Olympics. On the topic of pier, many people questioned “when will one pier be achieved per household”, and some people were even investigated by the police for reselling Bing pier, and administrative penalties have been imposed in accordance with the law.

As soon as the official flagship store was launched, the area around “Bingdundun” was empty. People had to go to offline stores to queue up. Some people even waited in line all night just to get a “Bingdundun” plush doll. A 68-yuan “Bingdundun” keychain has been fired up to 272 yuan, and a 708-yuan “Bingdundun” blind box has been fired for 3,100 yuan.

Shan Jixiang, president of the Chinese Cultural Relics Society and former director of the Palace Museum, also revealed in an interview with reporters at the 2022 Beijing News Center that Bing Dundun was so cute that he did not buy it himself.

The process of bing dung dun is not easy. The Beijing Winter Olympics mascot design team has a total of 14 people. Designer Cao Xue is in charge. When designing “Bing Dun Dun” at first, they drew tens of thousands of manuscripts in nearly 10 months. They also tried Tiger, rabbit and other images, but finally decided to use the national treasure panda.

According to designer Cao Xue, the ice shell shape of “Bing Dun Dun” is inspired by “Bing Tang Hulu”. Use, the perfect integration of Chinese classic symbols and modern technology.

In order to make the image of “Bing Dun Dun” more pleasing, the design team specially went to Sichuan for field observation, and based on the original manuscript, the head-to-body ratio was improved, and the small details of walking inside eight were also made to make “Bing Dun Dun” more pleasing. “Dun” looks more cute and cute, which is why netizens like Bing Dun.

Cao Xue, head of the design team of the Beijing Winter Olympics mascot “Bingdundun” and professor of Guangzhou Academy of Fine Arts

Regarding the shortage of Bing Dun Dun, the relevant departments came out and said that the licensed products of the Beijing Winter Olympics will continue to be sold at least until the end of June this year. At present, active measures have been coordinated to promote production, and there will be a steady supply of “Bing Dun Dun” to the market. . Please consume rationally and do not buy at high prices from “scalpers” to avoid economic losses.

What’s interesting is that when Bing Dun Dun first came out, many netizens were not optimistic, thinking its design was ugly.

Many people posted on the Internet that they had Bingdundun as early as two years ago. Now that they have taken it out, the shell of Bingdundun has turned yellow. There were also people who got Bing Dun Dun and regarded it as an electric car seat cushion. Bingdundun concept stock Yuanlong Yatu also said, “Bingdundun and other products have been online for more than two years, but due to publicity problems, the sales response in the past two years has been flat. However, since the opening ceremony, (the sales of Bingdundun and other peripheral products) That’s almost the same as the total sales of the previous two years.”

In this regard, there is also a joke on the Internet, “You ignored me back then, but you can’t stand up to me now.”

Today, the popularity of “Bingdundun” has caught Cao Xue by surprise, and even his son has not been able to buy it. Cao Xue said that he hoped “Bingdundun” would become a classic and leave a deep memory in the history of the Olympic Games.

Which companies did Bingdundun bring on fire?

The fire of Bingdundun has driven a series of concept stocks to soar.

While the sales of licensed peripherals such as Bingdundun and Xuerongrong are booming, as a concept stock of “Bingdundun”, Yuanlong Yatu also ushered in a daily limit on the first trading day of the Year of the Tiger (February 7), reported that It closed at 20.33 yuan per share. This momentum did not stop. As of the close on February 8, Yuanlong Yatu rose by the daily limit again, up 9.99% to 22.36 yuan per share.

What is the origin of this company? Founded in 1998, Yuanlong Yatu is the first A-share listed company in the domestic gift and gift industry. Its main business is gift and gift creative design and supply, digital marketing and new media marketing, with a registered capital of about 221 million yuan. Chairman Sun Zhen is also the chairman of the All-China Federation of Industry and Commerce Gifts Chamber of Commerce.

There are 29 licensed manufacturers and 58 licensed retailers for the Beijing Winter Olympics. The Beijing Winter Olympics Organizing Committee has opened more than 190 licensed retail stores nationwide, and has successively developed more than 5,000 licensed products in 16 categories.

These products cover non-metallic products such as badges and keychains, precious metal products, clothing, apparel and silk products, ceramic products, stationery, plush and toys of various materials, handicrafts, jewelry, electronic products and accessories, smart wearable devices, Fabrics, ice and snow sports goods, commemorative stamps and postage products, commemorative coins (banknotes), etc.

Shanxi Securities analyzed that thanks to the production or sales rights of licensed commodities in the Winter Olympics, the performance of related companies is expected to gain a wave of good performance. sales and revenue growth. Its previous financial reports show that in 2019, the company’s licensed souvenir business revenue increased by as much as 30 times year-on-year, making it the fastest-growing business segment that year.

According to Yuanlong Yatu’s latest financial report, this is indeed the case. The company achieved a total operating income of nearly 1.5 billion yuan in the first three quarters of 2021; The revenue of Olympic licensed souvenirs increased by 141.57% year-on-year. Relevant information shows that since the Beijing Winter Olympics licensed product “Opening Commemorative Gold and Silver Bar” was first released on the official licensed channel on January 4, 2022, Yuanlong Yatu’s sales revenue from this single product has exceeded 100 million yuan. 

The stock prices of other concept stock companies have also risen one after another, and related stocks such as Caibai, China Sports Industry, Wanshili, and Wangfujing have followed suit, all of which are listed companies related to the sales of licensed commodities for the Beijing Winter Olympics.

Wentou Holdings has also seized the wealth code of Bingdundun. Wentou Holdings has not disclosed the direct benefits brought by the Winter Olympics. According to its performance forecast, it is expected to achieve the profit attributable to shareholders of listed companies in 2021. The net profit was -500 million yuan to -420 million yuan, which was significantly lower than the loss of 3.463 billion yuan in the same period in 2020. Naturally, Bingdundun’s credit is indispensable behind it.

According to Huxiu, among the 36 A-share Winter Olympics concept stocks counted by wind, Wentou Holdings and Yuanlong Yatu have been trading at their daily limit for two consecutive days since the market opened on February 7, with increases of 21% and 20%, respectively. in the top two positions of these 36 stocks.

How long will the Bingdun Dun IP remain popular?

Just three days after the opening of the Winter Olympics, Bingdundun has been on dozens of hot searches, becoming the well-deserved top of the Winter Olympics.

On the one hand, it is inseparable from the general situation that the people are paying more and more attention to. The “Beijing 2022 Winter Olympics and Winter Paralympics Sports Heritage Report (2022)” released by the Beijing Winter Olympics Organizing Committee shows that since the successful bid for the Winter Olympics In October 2021, the number of national residents who participated in ice and snow sports was 346 million, and the participation rate in ice and snow sports was 24.56%. On the Xiaohongshu platform, “Ice and Snow Craze” was rated as a keyword for lifestyle trends in 2021.

On the other hand, as a cultural symbol, Bing Dun Dun is also a cultural self-confidence behind the popularity of its derivative souvenirs. The cheap daily necessities such as badges, ornaments, thermos cups, and key chains are full of national treasure elements. Many foreign friends rushed to take photos and punch cards. It is also a testament to the soft power of a country’s culture.

The prototype setting of China’s national treasure animal giant panda, coupled with its unique cute image, makes everyone remember Bing Dun Dun, but it is worth noting that in addition to the recognizable image, what is more important is how to put the ice The cultural story behind Dundun, as well as the Chinese culture and values that run through it, will be told for a longer time.

How to prolong the vitality of IP and continue to show the essence of traditional Chinese culture should be the main focus of the follow-up development of Bingdundun IP.

After all, my country’s national cultural IP export still has a long way to go. In May 2019, the evaluation results of “Chinese Cultural Symbols for the New Era: 2018-2019 Cultural IP Evaluation Report” released by the 14th China Beijing International Cultural and Creative Industry Expo show that online literature, games, dramas, etc. are the main outputs. In terms of form, China’s cultural IP has gained a certain degree of international acceptance, but the audience is still not wide enough, the quality needs to be improved, and there are main problems that the Chinese cultural characteristics are not distinct. The Chinese cultural IP with influence comparable to the American Marvel hero series and Disney series has not yet appeared.