Blind boxes are a Gen Z hit, but what about older consumers?

Blind boxes have moved firmly into mainstream consumer behaviour across Malaysia and Singapore, with 55% of Singaporeans and 59% of Malaysians reporting they have purchased one before, according to new research from GrowthOps Asia. Adoption is strongest among younger consumers, with 85% of Gen Z in Singapore and 73% in Malaysia having bought a blind box, while participation drops sharply among older cohorts who are far more likely to reject the mechanic outright.

The findings come from a nationally representative survey of 1,352 consumers across Malaysia and Singapore, conducted in Q1 2026 with research platform Ideally and published in GrowthOps Asia’s whitepaper "Blind boxes: A polarising growth strategy". The data shows the format has clearly moved beyond novelty into mainstream retail behaviour, but its commercial impact is far from evenly distributed.

Among consumers who have previously purchased blind boxes, the commercial upside is significant. These buyers are approximately 2.2 times more likely in Singapore and 2.5 times more likely in Malaysia to shop with a brand that offers one, while also demonstrating materially higher spend on collectibles compared to non-buyers.

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At the highest engagement level, regular buyers show around 1.8 times higher price elasticity in Singapore and 2.3 times higher in Malaysia, suggesting the format can meaningfully shift willingness to spend when deployed to the right audience.

That effect, however, is highly conditional. The report finds blind boxes function less as a broad-based retail tactic and more as a targeted behavioural trigger, with value concentrated among younger consumers already attuned to collectability, fandom, surprise and socially shareable consumption. For this group, the format also aligns with the “lipstick effect”, where smaller emotionally rewarding purchases persist even as larger discretionary spending tightens, making blind boxes an accessible form of affordable indulgence.

However, the same mechanism that drives engagement also fuels rejection elsewhere. Among non-buyers - particularly Gen X and Baby Boomers - responses frame blind boxes as luck-based, wasteful, poor value and in some cases exploitative. Several respondents explicitly likened them to gambling, a framing that is increasingly sensitive in both markets and especially relevant in Singapore’s regulatory context.

The implication for marketers is not that blind boxes are ineffective, but that they are highly segmented in impact. Performance depends on precise audience targeting, category fit and a clear commercial purpose beyond trend adoption. When aligned correctly, they can deepen engagement and increase spend. When applied broadly, they risk creating distrust among sceptical audiences while running ahead of emerging regulatory expectations.

“Blind boxes are not a shortcut to relevance. They work when the audience, product, and brand experience all make sense together. For the right segment, they can create excitement, repeat purchase, and stronger brand pull. Used without discipline, they risk becoming another overextended retail trope," said Chris Greenough, general manager of GrowthOps Asia.

"In a market such as Singapore, that risk has a regulatory dimension that brands cannot ignore,” he added. 

That tension is already moving into policy territory. In February 2026, Home Affairs Minister K. Shanmugam confirmed in Parliament that blind boxes would be regulated, with the Ministry of Home Affairs and the Gambling Regulatory Authority actively drafting a framework governing how such products are sold, including collectible trading card formats. The development introduces a compliance layer for brands already operating in or considering the space.

Industry professionals previously told MARKETING-INTERACTIVE that while blind boxes are driving strong engagement through “mystery marketing”, the same mechanics that make them effective - chance, scarcity and surprise - also require careful calibration.

“Unboxing is content, and content is currency. What used to be a retail transaction is now a social performance,” said Lesley John, CEO of Virtue Asia, who added that consumers are “buying into a moment of anticipation, a community ritual, and a story that can be shared”.

Others pointed to a sharper strategic line between engagement and overreach. One industry view noted that “scarcity without story feels manipulative. Scarcity with meaning feels magical”, while cautioning that brands “can chase the buzz, but they can’t gamble with trust”.

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