Chasing the Ghost: An Autoethnography of Scarcity, Fandom, and Value-Making in the Hunt for Labubu

The global rise of the "blind box" art toy phenomenon, led by brands like Pop Mart, has sparked intense consumer frenzies. This autoethnography offers a close analysis of one such craze: the hunt for the highly sought-after Labubu V3 collectible in Kuala Lumpur. The study explores how a mass-produced object gains extraordinary cultural and economic value through collective consumer practices, moving beyond corporate marketing to frame value as socially co-produced. Drawing on several weeks of immersive fieldwork, the researcher’s personal journey—from curious consumer to committed “hunter”—serves as the core analytical lens. Findings reveal that value emerges through three mechanisms: 1) the formation of insider knowledge systems to navigate scarcity; 2) the performance of affective labor, where emotional and temporal investments generate the object's “aura”; and 3) the ritualization of the restock event, which sacralizes the object and fosters intense, temporary community. The study concludes that the Labubu craze is not just consumption but cultural production. It contributes to cultural and consumer studies by showing how the “aura” of mass-produced goods is re-enchanted through embodied practices and emotional labor, asserting that what consumers feel is central to value-creation in contemporary hype culture.