1 00:00:04,440 --> 00:00:09,280 Speaker 1: Hello everybody, and welcome back to the Psychology of Your Twenties, 2 00:00:09,920 --> 00:00:12,280 Speaker 1: the podcast where we talk through some of the big 3 00:00:12,520 --> 00:00:16,880 Speaker 1: life changes and transitions of our twenties and what they 4 00:00:16,960 --> 00:00:27,320 Speaker 1: mean for our psychology. Hello everybody, Welcome back to the show. 5 00:00:27,360 --> 00:00:31,640 Speaker 1: Welcome back to the podcast. New listeners, old listeners. Wherever 6 00:00:31,680 --> 00:00:34,320 Speaker 1: you are in the world, it is so great to 7 00:00:34,400 --> 00:00:37,400 Speaker 1: have you here. Back for another episode as we, of 8 00:00:37,440 --> 00:00:42,680 Speaker 1: course break down the psychology of our twenties today. I 9 00:00:42,720 --> 00:00:47,599 Speaker 1: am absolutely buzzing to dive into a topic that I 10 00:00:47,640 --> 00:00:50,479 Speaker 1: think has seemingly exploded out of nowhere, yet when you 11 00:00:50,600 --> 00:00:53,920 Speaker 1: really like take some time to look into it has 12 00:00:54,040 --> 00:00:57,360 Speaker 1: kind of always been part of humanity in one form 13 00:00:57,440 --> 00:01:02,440 Speaker 1: or another. We're talking about trinket culture, and you might 14 00:01:02,480 --> 00:01:05,720 Speaker 1: be raising your eyebrows thinking trinkets, like you're gonna do 15 00:01:05,760 --> 00:01:09,000 Speaker 1: a whole entire episode on tiny little decorative objects. 16 00:01:09,560 --> 00:01:12,120 Speaker 2: And I get it. Not everyone will like them, not 17 00:01:12,160 --> 00:01:16,280 Speaker 2: everyone collects them, that's totally fine, but they are undeniably 18 00:01:16,360 --> 00:01:19,920 Speaker 2: a really big deal at the moment, a big part 19 00:01:19,959 --> 00:01:23,360 Speaker 2: of the current culture. I'm sure you've seen these unboxing 20 00:01:23,480 --> 00:01:29,040 Speaker 2: videos or adorable figurines and la booboos. Maybe you've even 21 00:01:29,080 --> 00:01:33,080 Speaker 2: got a little special shelf at home, meticulously dedicated to 22 00:01:33,600 --> 00:01:37,240 Speaker 2: a collection of utterly non functional items that just simply 23 00:01:37,520 --> 00:01:39,720 Speaker 2: make you smile. You know, love them or hate them. 24 00:01:40,200 --> 00:01:42,720 Speaker 2: It is highly likely that you have been exposed to 25 00:01:42,840 --> 00:01:47,000 Speaker 2: some kind of trinket doing the rounds online or in 26 00:01:47,040 --> 00:01:51,520 Speaker 2: real life. It is a widespread, almost cult like obsession 27 00:01:51,520 --> 00:01:55,080 Speaker 2: that we're seeing these days, the psychology of which is 28 00:01:55,480 --> 00:01:59,960 Speaker 2: so fascinating and only just beginning to be talked about. 29 00:02:00,360 --> 00:02:04,480 Speaker 2: And I have to admit I myself am a trinket collector. 30 00:02:04,480 --> 00:02:07,040 Speaker 2: If you follow me on Instagram, you will know that 31 00:02:07,200 --> 00:02:10,240 Speaker 2: not only do I have a stupid amount of Sunny Angels, 32 00:02:10,280 --> 00:02:13,680 Speaker 2: like four hundred in county at this point, but I 33 00:02:13,720 --> 00:02:16,920 Speaker 2: also have like a huge collection of mugs and toys 34 00:02:16,960 --> 00:02:19,359 Speaker 2: and decorative things that I've picked up from the time 35 00:02:19,400 --> 00:02:22,919 Speaker 2: I was a child, like displayed all throughout my house. 36 00:02:22,960 --> 00:02:25,120 Speaker 2: You know, when I was a kid, I collected Beanie babies. 37 00:02:25,480 --> 00:02:29,560 Speaker 2: Then it was kinderregg toys. Now it's key chains and 38 00:02:29,560 --> 00:02:32,760 Speaker 2: sunny angels, whatever it is. And so, as a member 39 00:02:32,800 --> 00:02:37,239 Speaker 2: of the trinket collector society, I am really fascinated by 40 00:02:37,440 --> 00:02:41,080 Speaker 2: what it is about these things that attract us to them, 41 00:02:41,240 --> 00:02:43,440 Speaker 2: is there a certain kind of personality that is more 42 00:02:43,520 --> 00:02:46,760 Speaker 2: drawn to it than another where And what does our 43 00:02:46,840 --> 00:02:50,760 Speaker 2: kind of collective infatuation with the boo boos and miffy 44 00:02:50,960 --> 00:02:54,040 Speaker 2: and sunny angels and jelly cats really say about us 45 00:02:54,120 --> 00:02:57,760 Speaker 2: as a society and even even about the kind of 46 00:02:57,880 --> 00:03:01,240 Speaker 2: economic times that we're living in. So that is precisely 47 00:03:01,800 --> 00:03:05,400 Speaker 2: what we are going to unravel today, the psychology of 48 00:03:05,600 --> 00:03:09,880 Speaker 2: trinket culture. This topic is so much more than a 49 00:03:09,919 --> 00:03:13,680 Speaker 2: passing fad. As we get further into it, you're gonna 50 00:03:13,720 --> 00:03:17,280 Speaker 2: be shocked at how much this, you know, kind of 51 00:03:17,320 --> 00:03:21,360 Speaker 2: obscure topic really has to say about our minds as humans, 52 00:03:21,520 --> 00:03:26,200 Speaker 2: about our economy, about our identity, about how we relate 53 00:03:26,600 --> 00:03:30,080 Speaker 2: to other people. Like who knew you could go so 54 00:03:30,280 --> 00:03:33,760 Speaker 2: deep when talking about key chains and fluffy animals and 55 00:03:33,880 --> 00:03:37,440 Speaker 2: tiny baby dolls. But turns out it is a lot 56 00:03:37,560 --> 00:03:42,280 Speaker 2: deeper than you may initially imagine. So, my lovely listeners, 57 00:03:42,960 --> 00:03:46,279 Speaker 2: strap in for a kind of wacky, kind of different conversation, 58 00:03:46,440 --> 00:03:50,840 Speaker 2: but one that is like chock full with science. Surprisingly, 59 00:03:51,400 --> 00:04:00,240 Speaker 2: let's talk about the psychology of trinket culture. Stay with us. 60 00:04:01,200 --> 00:04:04,119 Speaker 2: So let's start with the biggest question to begin with, 61 00:04:04,440 --> 00:04:08,160 Speaker 2: where the heck has this all come from? How did 62 00:04:08,240 --> 00:04:12,520 Speaker 2: something as seemingly niche as collecting small figures go from 63 00:04:12,560 --> 00:04:15,200 Speaker 2: a hobby for just a select few, something people even 64 00:04:15,240 --> 00:04:19,719 Speaker 2: thought of as kind of weird, to literally being everywhere, 65 00:04:19,760 --> 00:04:22,080 Speaker 2: to being part of a celebrity culture to being part 66 00:04:22,120 --> 00:04:27,640 Speaker 2: of the literal economy. Maybe unsurprisingly, a huge part of 67 00:04:27,680 --> 00:04:32,480 Speaker 2: it recently, and probably the main driver lies squarely with 68 00:04:32,480 --> 00:04:37,640 Speaker 2: our digital landscape, especially platforms like TikTok, Instagram, Pinterest. These 69 00:04:37,680 --> 00:04:43,400 Speaker 2: platforms are perfect for short lived esthetic trends like ballet core, 70 00:04:44,000 --> 00:04:48,360 Speaker 2: tomato girl, summer cottage core. We've seen them come up 71 00:04:48,440 --> 00:04:53,400 Speaker 2: and down for years. Ever since, like TikTok and Instagram 72 00:04:53,480 --> 00:04:56,680 Speaker 2: really hit their like high point trends have been a 73 00:04:56,720 --> 00:05:00,479 Speaker 2: part of that, and things like trinket whole video or 74 00:05:00,720 --> 00:05:04,880 Speaker 2: unboxing experiences or trinket shelf tours that are racking up 75 00:05:05,360 --> 00:05:10,359 Speaker 2: millions of views. It is, in some ways just another trend, 76 00:05:10,960 --> 00:05:14,240 Speaker 2: and this kind of content is also really engaging. It 77 00:05:14,320 --> 00:05:17,599 Speaker 2: creates a lot of desirability, there's a lot of buzz 78 00:05:17,640 --> 00:05:20,799 Speaker 2: around it. There's a much deeper part to our culture 79 00:05:20,800 --> 00:05:25,520 Speaker 2: that it's become quite obsessive with this level of consumption 80 00:05:25,680 --> 00:05:29,880 Speaker 2: and also like displays of just like excess, like someone 81 00:05:30,000 --> 00:05:32,479 Speaker 2: having all of these things and being able to watch 82 00:05:32,520 --> 00:05:35,640 Speaker 2: them and like live this, like cool life through their 83 00:05:35,680 --> 00:05:40,320 Speaker 2: eyes is really really appealing. You see it, you want it, 84 00:05:40,520 --> 00:05:42,560 Speaker 2: and before you know it, you know you're not just 85 00:05:42,600 --> 00:05:44,920 Speaker 2: a passive observer like you are part of the movement, 86 00:05:45,000 --> 00:05:50,120 Speaker 2: you are part of the business model. Take Popmark for instance. 87 00:05:50,160 --> 00:05:54,320 Speaker 2: PopMart has been everywhere. They are the powerhouse behind the 88 00:05:54,400 --> 00:05:58,280 Speaker 2: Booboo figures, I guess, the little booboo toys. The reason 89 00:05:58,360 --> 00:06:03,480 Speaker 2: they became so successful is because they marketed themselves so well, 90 00:06:03,680 --> 00:06:09,480 Speaker 2: especially through social media, and especially through their packaging, especially 91 00:06:09,480 --> 00:06:12,400 Speaker 2: through their entire business model of blind boxes, not knowing 92 00:06:12,480 --> 00:06:17,000 Speaker 2: what you're gonna get. Popmark shops are like consistently selling 93 00:06:17,040 --> 00:06:20,000 Speaker 2: out in London, in America, in Australia, literally anywhere you 94 00:06:20,000 --> 00:06:21,839 Speaker 2: can name a city in a country, you will find 95 00:06:22,279 --> 00:06:25,839 Speaker 2: a labuoboo. And this isn't just a toy for children. 96 00:06:25,880 --> 00:06:29,800 Speaker 2: It's a legitimate, like cultural touchstone. There's even Labubu keychains. 97 00:06:30,360 --> 00:06:33,520 Speaker 2: You know, at London Fashion Week, some of these things 98 00:06:33,600 --> 00:06:36,279 Speaker 2: sell for like thousands of dollars. It's like a craze 99 00:06:36,800 --> 00:06:38,640 Speaker 2: has taken over and something that was meant to be 100 00:06:38,720 --> 00:06:41,720 Speaker 2: cute has turned into kind of like a status symbol 101 00:06:41,760 --> 00:06:45,520 Speaker 2: in a way. You know, individually, these items are kind 102 00:06:45,600 --> 00:06:49,799 Speaker 2: of seemingly like semi affordable niceties. They're like a special treat. 103 00:06:50,200 --> 00:06:52,440 Speaker 2: If you buy one, you know, a sunny Angel figurine, 104 00:06:52,480 --> 00:06:55,760 Speaker 2: for example in Australia, that's gonna cost you like maybe 105 00:06:55,800 --> 00:07:00,360 Speaker 2: seventeen to twenty dollars. That's you know, a lot of money, 106 00:07:00,400 --> 00:07:02,280 Speaker 2: but also not a lot of money, Like that's how 107 00:07:02,320 --> 00:07:05,239 Speaker 2: much you would spend on a nice light on lunch, 108 00:07:05,320 --> 00:07:08,000 Speaker 2: you know what I mean. But here's the kick up. 109 00:07:08,080 --> 00:07:13,280 Speaker 2: They're a small purchase, but they accumulate fast, especially when 110 00:07:13,760 --> 00:07:16,320 Speaker 2: you're on a quest to complete a full set, or 111 00:07:16,880 --> 00:07:19,080 Speaker 2: you know there's this latest drop that you just have 112 00:07:19,200 --> 00:07:21,840 Speaker 2: to have, or there's a rare item that you want 113 00:07:21,880 --> 00:07:25,720 Speaker 2: to keep buying boxes in order to get behind the 114 00:07:25,800 --> 00:07:27,960 Speaker 2: cuteness of this all is a business model that is 115 00:07:28,000 --> 00:07:32,800 Speaker 2: capitalizing on our desire to accumulate more and more and more. 116 00:07:33,360 --> 00:07:39,720 Speaker 2: Each new release taps into the psychology of scarcity and completionism. 117 00:07:40,160 --> 00:07:44,080 Speaker 2: There's limited editions, then there's mystery boxes and the thrill 118 00:07:44,160 --> 00:07:46,840 Speaker 2: of getting the one you secretly wanted all along really 119 00:07:46,920 --> 00:07:50,680 Speaker 2: plays into your impulse to keep collecting. So it's not 120 00:07:50,760 --> 00:07:53,080 Speaker 2: just about owning a figurine, and it's not just about 121 00:07:53,080 --> 00:07:55,840 Speaker 2: owning the toy. That's something that I think people sometimes 122 00:07:55,880 --> 00:07:59,600 Speaker 2: don't understand. It's about the feeling of anticipation. It's about 123 00:07:59,640 --> 00:08:01,280 Speaker 2: even being able to get your hands on one in 124 00:08:01,320 --> 00:08:04,360 Speaker 2: the first place. It's the rush of the unboxing and 125 00:08:04,440 --> 00:08:07,320 Speaker 2: the sense of belonging to a community that kind of 126 00:08:07,360 --> 00:08:12,400 Speaker 2: gets it. And so the cycle continues. A tiny figurine 127 00:08:12,440 --> 00:08:16,400 Speaker 2: becomes like this tiny obsession, and the dollar value on 128 00:08:17,040 --> 00:08:20,960 Speaker 2: that business model is insane, Like it is a highly 129 00:08:21,480 --> 00:08:26,320 Speaker 2: lucrative industry. Let's focus back in on PopMart again. Their 130 00:08:26,440 --> 00:08:31,680 Speaker 2: company valuation has completely skyrocketed. In twenty twenty four, their 131 00:08:31,840 --> 00:08:34,200 Speaker 2: like valuation, how much they were worth, how much money 132 00:08:34,280 --> 00:08:42,360 Speaker 2: they made, was sixty point four five billion dollars B billion, 133 00:08:42,640 --> 00:08:47,680 Speaker 2: not M billion, like billion. I let's just think about 134 00:08:47,679 --> 00:08:51,000 Speaker 2: that for a moment, Like that is actually more than 135 00:08:51,200 --> 00:08:54,120 Speaker 2: and I looked this up, more than the combined valuations 136 00:08:54,160 --> 00:08:58,040 Speaker 2: of mattel So literally the creator of Barbie hot wheels. 137 00:08:58,440 --> 00:09:01,360 Speaker 2: It's more than the combined that combined with the creators 138 00:09:01,400 --> 00:09:05,240 Speaker 2: of NERF gun my little pony transformers, Hello kitty. You 139 00:09:05,280 --> 00:09:08,320 Speaker 2: could add up how much each of those businesses was worth, 140 00:09:08,880 --> 00:09:12,280 Speaker 2: and all added up would it would not even scratch 141 00:09:12,320 --> 00:09:16,320 Speaker 2: the surface of how much PopMart is worth. That says 142 00:09:16,400 --> 00:09:19,720 Speaker 2: everything about how seriously this little niche thing is being 143 00:09:19,760 --> 00:09:22,760 Speaker 2: taken so other than the fact, as we previously mentioned, 144 00:09:22,800 --> 00:09:26,640 Speaker 2: why do we fall so hard for trinkets beyond just 145 00:09:26,679 --> 00:09:31,000 Speaker 2: wanting more things? Beyond just consumerism? Firstly, I think in 146 00:09:31,040 --> 00:09:34,920 Speaker 2: a world of traditional luxury goods, you know, designer handbags, 147 00:09:35,000 --> 00:09:38,520 Speaker 2: high end cars, exotic vacations, a lot of those things 148 00:09:38,559 --> 00:09:41,600 Speaker 2: remain largely out of reach for us. But trinkets have 149 00:09:41,720 --> 00:09:47,160 Speaker 2: emerged as these like surprisingly potent and incredibly affordable status symbols. 150 00:09:47,200 --> 00:09:50,200 Speaker 2: They offer a very clever way for us to signal 151 00:09:50,240 --> 00:09:53,040 Speaker 2: our identity and our taste and our kind of in 152 00:09:53,080 --> 00:09:56,439 Speaker 2: the no status without having to totally break the bank. 153 00:09:56,520 --> 00:09:59,199 Speaker 2: Which is why I think for people in their late 154 00:09:59,240 --> 00:10:02,640 Speaker 2: teens and in their twenties, there's such a pull. Their 155 00:10:02,760 --> 00:10:07,280 Speaker 2: primary power kind of lies and their accessibility. Unlike really 156 00:10:07,320 --> 00:10:12,319 Speaker 2: expensive luxury items, most trinkets are relatively inexpensive, so it 157 00:10:12,400 --> 00:10:16,000 Speaker 2: makes them accessible to a demographic who definitely wants to 158 00:10:16,080 --> 00:10:18,559 Speaker 2: show that they have their lives together or that they 159 00:10:18,559 --> 00:10:22,400 Speaker 2: have their finances together, but can't necessarily go after the 160 00:10:22,440 --> 00:10:27,480 Speaker 2: traditional indicators of wealth. When you see, you know, global 161 00:10:27,520 --> 00:10:30,760 Speaker 2: stylik ons like Rihanna and do a leaper, or Kylie Jenner, 162 00:10:30,920 --> 00:10:33,840 Speaker 2: or even like David Beckham like sporting a la booboo, 163 00:10:34,320 --> 00:10:38,480 Speaker 2: it just kind of amplifies this perception that this is 164 00:10:38,480 --> 00:10:40,719 Speaker 2: something that someone who is in the know has, This 165 00:10:40,800 --> 00:10:43,800 Speaker 2: is something that someone who's cool or who has wealth 166 00:10:43,880 --> 00:10:48,560 Speaker 2: or status has. And it's the same reason why companies 167 00:10:48,600 --> 00:10:52,800 Speaker 2: put celebrities as the face of perfumes, cars, drinks, fashion brands, 168 00:10:52,840 --> 00:10:55,720 Speaker 2: because they know we are more likely to buy something 169 00:10:55,840 --> 00:10:58,640 Speaker 2: if we see someone we admire doing it first, because 170 00:10:58,679 --> 00:11:01,120 Speaker 2: we think I can be more like them. You know, 171 00:11:01,160 --> 00:11:03,120 Speaker 2: I might not be rich or famous, but I can 172 00:11:03,240 --> 00:11:06,480 Speaker 2: dress or smell like a rich and famous person. I 173 00:11:06,520 --> 00:11:09,560 Speaker 2: can have the collectible on my bag that a rich 174 00:11:09,600 --> 00:11:14,080 Speaker 2: and famous person has. You know, humans, we are at 175 00:11:14,080 --> 00:11:17,760 Speaker 2: our core deeply social creatures. We have this inherent drive 176 00:11:17,840 --> 00:11:22,000 Speaker 2: to connect and to belong and these trinkets are incredibly 177 00:11:22,040 --> 00:11:25,080 Speaker 2: powerful at fostering a sense of in group belonging and 178 00:11:25,160 --> 00:11:29,040 Speaker 2: really solidifying our social identity and what we want to 179 00:11:29,040 --> 00:11:34,000 Speaker 2: communicate to the world. They tap directly into our fundamental 180 00:11:34,040 --> 00:11:37,559 Speaker 2: need for connection and acceptance. And if you think that 181 00:11:37,559 --> 00:11:39,839 Speaker 2: that sounds crazy, let me explain a little bit of 182 00:11:39,880 --> 00:11:44,600 Speaker 2: the psychology behind this. When you start collecting specific types 183 00:11:44,640 --> 00:11:47,800 Speaker 2: of trinkets, not only does it seemingly align you with 184 00:11:47,880 --> 00:11:51,280 Speaker 2: other people who see value in that item, maybe like 185 00:11:51,320 --> 00:11:54,920 Speaker 2: a celebrity, it also almost automatically leads to the formation 186 00:11:55,080 --> 00:11:59,280 Speaker 2: of communities both online and in real life. There are 187 00:11:59,600 --> 00:12:02,600 Speaker 2: entire Facebook groups for people who collect, you know, rare 188 00:12:02,640 --> 00:12:05,280 Speaker 2: littlest pet shops, the same way that there are entire 189 00:12:05,320 --> 00:12:08,800 Speaker 2: Facebook groups for people who collect stamps or car parts, 190 00:12:09,480 --> 00:12:11,680 Speaker 2: and in those groups you will find people with the 191 00:12:11,720 --> 00:12:15,640 Speaker 2: same interests, the same knowledge set, the same obsession as you. 192 00:12:15,840 --> 00:12:18,440 Speaker 2: And that's kind of really fun to lean into. So, 193 00:12:18,800 --> 00:12:21,800 Speaker 2: according to social identity theory, we really derive a lot 194 00:12:21,840 --> 00:12:25,480 Speaker 2: of our self esteem from group membership, and you don't 195 00:12:25,480 --> 00:12:28,560 Speaker 2: have to actively participate in a group like a Facebook 196 00:12:28,600 --> 00:12:32,840 Speaker 2: group to still feel like you belong somewhere. Collecting and 197 00:12:32,880 --> 00:12:35,960 Speaker 2: displaying trinkets, it reinforces a connection that you have with 198 00:12:36,000 --> 00:12:39,840 Speaker 2: a certain type of person, whether it's a sunny angel, 199 00:12:40,080 --> 00:12:44,320 Speaker 2: whether it's whatever. It is by actively like participating in 200 00:12:44,320 --> 00:12:48,000 Speaker 2: trinket culture, you're basically saying, I'm part of this group. 201 00:12:48,320 --> 00:12:51,400 Speaker 2: I'm part of this group who spends money on this thing, 202 00:12:51,920 --> 00:12:54,400 Speaker 2: who uses this as a status symbol, but also maybe 203 00:12:54,440 --> 00:12:56,480 Speaker 2: part of a group of people who have a lot 204 00:12:56,520 --> 00:13:00,560 Speaker 2: of whimsy and who really value like childlike w and 205 00:13:00,600 --> 00:13:05,560 Speaker 2: who are really creative, you know whatever. It is. What 206 00:13:05,640 --> 00:13:10,080 Speaker 2: this really fosters is what we call collective effervescence. So 207 00:13:10,320 --> 00:13:14,000 Speaker 2: a shared kind of sense of energy and enthusiasm that 208 00:13:14,120 --> 00:13:18,280 Speaker 2: is generated by communal participation. Isn't that such a beautiful 209 00:13:18,320 --> 00:13:22,560 Speaker 2: term as well? Collective effervescence, And it's also something that 210 00:13:22,600 --> 00:13:25,040 Speaker 2: you can feel. Yes, you're gonna go out and buy 211 00:13:25,040 --> 00:13:27,120 Speaker 2: the trink it yourself, but then you might see someone 212 00:13:27,160 --> 00:13:29,880 Speaker 2: else with the trinket on their bag and you immediately 213 00:13:30,040 --> 00:13:32,440 Speaker 2: feel like a pool towards them, or you might be 214 00:13:32,520 --> 00:13:34,720 Speaker 2: in line waiting for like a rare I don't know, 215 00:13:34,760 --> 00:13:37,320 Speaker 2: la boobo drop and you're like, oh, I feel like 216 00:13:37,520 --> 00:13:39,840 Speaker 2: I'm aligned with these people, and you can talk to 217 00:13:39,880 --> 00:13:41,680 Speaker 2: them about it, and it's something that you can share 218 00:13:41,720 --> 00:13:45,439 Speaker 2: with your friends and you can connect with people online 219 00:13:45,480 --> 00:13:49,720 Speaker 2: about that feeling is the same feeling that people in 220 00:13:49,760 --> 00:13:52,040 Speaker 2: a stadium feel when they're rooting for the same team, 221 00:13:52,440 --> 00:13:54,800 Speaker 2: or it's the same buzz that you get at a 222 00:13:54,880 --> 00:13:58,800 Speaker 2: concert for your favorite artist or at a trade show. 223 00:14:00,400 --> 00:14:04,280 Speaker 2: Have found a way to capture this effervestance in so 224 00:14:04,360 --> 00:14:08,600 Speaker 2: many forms, and trinket culture is just another form of that, 225 00:14:08,880 --> 00:14:12,240 Speaker 2: even if people think it's childish. The same human desire 226 00:14:12,240 --> 00:14:13,960 Speaker 2: that causes us to want to be part of any 227 00:14:14,000 --> 00:14:16,600 Speaker 2: group or want to be in the know also causes 228 00:14:16,679 --> 00:14:21,000 Speaker 2: us to sometimes become a collector. Beyond social identity, we 229 00:14:21,040 --> 00:14:24,280 Speaker 2: also have our self identity, and trinkets are kind of 230 00:14:24,320 --> 00:14:28,200 Speaker 2: like a nonverbal form of self expression. You know, if 231 00:14:28,200 --> 00:14:30,480 Speaker 2: you have a certain anime figuring on your desk, like, 232 00:14:30,520 --> 00:14:34,600 Speaker 2: that's not just decoration. It tells a story about your interests. 233 00:14:35,040 --> 00:14:37,000 Speaker 2: It says something about who you are and what you 234 00:14:37,160 --> 00:14:39,320 Speaker 2: love and how you see the world. You know, a 235 00:14:39,360 --> 00:14:43,080 Speaker 2: particular trinket might represent that you are playful, or that 236 00:14:43,160 --> 00:14:46,920 Speaker 2: you love a specific subculture, or that there's a specific 237 00:14:47,000 --> 00:14:50,920 Speaker 2: lifestyle that you feel drawn to achieve. The items we 238 00:14:51,040 --> 00:14:56,320 Speaker 2: own do become part of what psychologists call our extended self, 239 00:14:56,440 --> 00:15:00,240 Speaker 2: so basically how we think about ourselves as not just 240 00:15:00,240 --> 00:15:03,080 Speaker 2: like the voice in our head, but the physical things 241 00:15:03,120 --> 00:15:06,200 Speaker 2: around us. So yes, our extended self is part isn't 242 00:15:06,240 --> 00:15:08,920 Speaker 2: part made up by our relationships. It's made up in 243 00:15:08,960 --> 00:15:11,400 Speaker 2: part by our environment. It's made up in part by 244 00:15:11,960 --> 00:15:14,240 Speaker 2: what we read, what we listen to, and also what 245 00:15:14,280 --> 00:15:17,960 Speaker 2: we own and what we choose to decorate our lives with. 246 00:15:18,400 --> 00:15:20,760 Speaker 2: This is one of the biggest straws of this all, 247 00:15:21,200 --> 00:15:24,880 Speaker 2: Like it really is this capacity to indicate to others 248 00:15:24,920 --> 00:15:27,840 Speaker 2: who you are as a person. But while trinkets are 249 00:15:27,840 --> 00:15:31,480 Speaker 2: often self expression, I would say that's what I think 250 00:15:31,520 --> 00:15:34,440 Speaker 2: they are. I think they're self expression, they also reveal 251 00:15:34,520 --> 00:15:38,240 Speaker 2: how identity can really be commodified and how authenticity can 252 00:15:38,280 --> 00:15:41,520 Speaker 2: be commodified. So we're going to talk about the intersection 253 00:15:41,640 --> 00:15:46,480 Speaker 2: of trinkets, psychology, and also the big CEA capitalism. After 254 00:15:46,520 --> 00:15:55,800 Speaker 2: this shortbreak, stay with us. So I am going to 255 00:15:55,840 --> 00:15:59,680 Speaker 2: say something bold here. As a long time trinket collector myself, 256 00:16:00,280 --> 00:16:03,440 Speaker 2: I think the good old days of collecting trinkets that 257 00:16:03,720 --> 00:16:07,120 Speaker 2: were important to you and only you kind of gone, 258 00:16:07,720 --> 00:16:10,520 Speaker 2: you know, I've just got to say it. Previously, our 259 00:16:10,600 --> 00:16:13,560 Speaker 2: homes were filled with things that we had collected over 260 00:16:13,600 --> 00:16:18,760 Speaker 2: the years, from travel, from birthdays, from adventures, and this 261 00:16:19,040 --> 00:16:22,200 Speaker 2: entire collection, Like, yes, maybe someone else had one or 262 00:16:22,240 --> 00:16:26,200 Speaker 2: two things similar to you, but it was very unique. 263 00:16:26,240 --> 00:16:28,400 Speaker 2: It was a postcard from here, it was a special 264 00:16:28,440 --> 00:16:31,760 Speaker 2: stone from this speech, a collection of mugs from all over. 265 00:16:32,360 --> 00:16:36,880 Speaker 2: Each person had a different set of things. Nowadays, instead 266 00:16:36,920 --> 00:16:40,560 Speaker 2: of like carefully curating objects that reflect who you are, 267 00:16:41,120 --> 00:16:45,840 Speaker 2: were often sold kind of prepackaged esthetic starter kits. And 268 00:16:45,880 --> 00:16:49,520 Speaker 2: it raises the question with trinkets these days, are we 269 00:16:49,560 --> 00:16:52,440 Speaker 2: really expressing ourselves or are we just buying into a 270 00:16:52,560 --> 00:16:57,400 Speaker 2: marketable persona. And you know, a bigger question is if 271 00:16:57,400 --> 00:17:02,080 Speaker 2: everyone has something how genuine and authentic and how much 272 00:17:02,080 --> 00:17:03,880 Speaker 2: of a form of self expression can it really be 273 00:17:03,920 --> 00:17:09,280 Speaker 2: if everyone is expressing the same thing. Critics of consumer 274 00:17:09,320 --> 00:17:13,040 Speaker 2: culture might argue that authenticity in this day and age 275 00:17:13,359 --> 00:17:18,920 Speaker 2: itself has become a marketable commodity. Brands are very quick 276 00:17:19,080 --> 00:17:22,520 Speaker 2: to leverage the idea that a certain person would own 277 00:17:22,560 --> 00:17:25,640 Speaker 2: this product and another kind of person would buy this 278 00:17:25,760 --> 00:17:29,000 Speaker 2: kind of thing, So they really sell you the idea 279 00:17:29,119 --> 00:17:31,760 Speaker 2: that if you are this particular individual, you should buy 280 00:17:31,800 --> 00:17:34,640 Speaker 2: this candle, or you should wear this jacket, or this 281 00:17:34,720 --> 00:17:39,000 Speaker 2: trinket is somehow for you and it will allow you 282 00:17:39,040 --> 00:17:42,200 Speaker 2: to be more like yourself. It will allow you to 283 00:17:42,240 --> 00:17:44,640 Speaker 2: be more not just like yourself, but like the other 284 00:17:44,760 --> 00:17:48,480 Speaker 2: kind of people who own this kind of thing. In 285 00:17:48,600 --> 00:17:52,000 Speaker 2: doing so, our identities really get tied up in what 286 00:17:52,080 --> 00:17:55,399 Speaker 2: we own, what we wear, what we display, and it 287 00:17:55,480 --> 00:17:59,400 Speaker 2: turns consumption into a form of personal branding. What's even 288 00:17:59,440 --> 00:18:03,320 Speaker 2: more complain I think, is how consumer culture kind of 289 00:18:03,880 --> 00:18:09,239 Speaker 2: disguises these decisions as empowerment. You know, the language of 290 00:18:09,400 --> 00:18:13,880 Speaker 2: choice and freedom is everywhere when it comes to buying things, 291 00:18:14,080 --> 00:18:18,000 Speaker 2: things like treat yourself, you deserve it, express who you are. 292 00:18:18,800 --> 00:18:22,960 Speaker 2: It masks a system that kind of thrives on needing 293 00:18:23,000 --> 00:18:28,280 Speaker 2: to buy our identity rather than express it through our character. 294 00:18:29,000 --> 00:18:33,320 Speaker 2: We are subtly encouraged to seek emotional fulfillment in material things, 295 00:18:34,240 --> 00:18:36,919 Speaker 2: only to kind of find out eventually that that satisfaction 296 00:18:37,040 --> 00:18:39,520 Speaker 2: is very fleeting, and we need to fill that whole 297 00:18:40,000 --> 00:18:42,359 Speaker 2: with something else the next day, the next day, the 298 00:18:42,400 --> 00:18:45,680 Speaker 2: next week. So and you drop a fresh aesthetic, it 299 00:18:45,720 --> 00:18:48,320 Speaker 2: will quickly replace the last thing, keeping us in this 300 00:18:48,760 --> 00:18:53,480 Speaker 2: constant loop of yearning and also crucially, of spending. It's 301 00:18:53,520 --> 00:18:56,760 Speaker 2: not that consumption is inherently bad, but when it's framed 302 00:18:56,880 --> 00:19:00,640 Speaker 2: as a way to I guess have meaning in life 303 00:19:00,880 --> 00:19:03,720 Speaker 2: or as a way to express your identity. It becomes 304 00:19:03,760 --> 00:19:06,280 Speaker 2: a very hollow solution to a much deeper need for 305 00:19:06,480 --> 00:19:12,439 Speaker 2: connection and purpose and belonging. And I know I'm sounding 306 00:19:12,520 --> 00:19:17,640 Speaker 2: rather pessimistic. I do also believe that there's something majorly 307 00:19:17,760 --> 00:19:21,080 Speaker 2: joyful and special to this habit other than just like 308 00:19:21,520 --> 00:19:25,120 Speaker 2: what some people would call naive consumer behavior. And one 309 00:19:25,160 --> 00:19:27,960 Speaker 2: way that I think it is really I don't know 310 00:19:28,280 --> 00:19:31,920 Speaker 2: beneficial is the right world word, but like really joyful 311 00:19:32,000 --> 00:19:36,880 Speaker 2: and I don't know, unthreatening, is that collecting these little 312 00:19:36,880 --> 00:19:39,399 Speaker 2: objects can be a real beautiful way to connect with 313 00:19:39,960 --> 00:19:42,840 Speaker 2: parts of you that you've kind of hidden, specifically, you know, 314 00:19:43,119 --> 00:19:46,359 Speaker 2: expressions about inner child. It's a way to feel young 315 00:19:46,560 --> 00:19:50,480 Speaker 2: and childlike again in our very stressful adult lives. Consciously 316 00:19:50,800 --> 00:19:53,840 Speaker 2: reconnecting with the parts of you that feel innocent and 317 00:19:54,000 --> 00:19:58,840 Speaker 2: soft and playful, you know, that can be incredibly like. 318 00:19:58,880 --> 00:20:01,240 Speaker 2: It can be an incredibly power for active self care 319 00:20:01,440 --> 00:20:07,359 Speaker 2: and even of emotional regulation, letting yourself feel safe and 320 00:20:07,520 --> 00:20:10,640 Speaker 2: cared for by being the one who creates that kind 321 00:20:10,640 --> 00:20:14,960 Speaker 2: of whimsical environment. And trinkets, you know, really play into 322 00:20:14,960 --> 00:20:19,520 Speaker 2: that whimsical aesthetic. They might actually be very potent bridges 323 00:20:19,680 --> 00:20:22,439 Speaker 2: to this connection between who you are now and some 324 00:20:22,520 --> 00:20:24,840 Speaker 2: of the sensations and feelings that you had as a kid. 325 00:20:25,480 --> 00:20:29,600 Speaker 2: Trinkets have an amazing ability to evoke childhood memories. You know, 326 00:20:30,240 --> 00:20:33,560 Speaker 2: getting a jelly cat, getting whatever it is, it might 327 00:20:33,600 --> 00:20:36,359 Speaker 2: transport you back to the sheer excitement of getting a 328 00:20:36,400 --> 00:20:39,640 Speaker 2: new toy as a kid, or the thrill of collecting 329 00:20:39,680 --> 00:20:43,520 Speaker 2: something that you really coveted or being spoiled. It might 330 00:20:43,560 --> 00:20:46,600 Speaker 2: also feel like you were able to give yourself something 331 00:20:47,080 --> 00:20:49,760 Speaker 2: you never received when you were younger. And we're not 332 00:20:49,840 --> 00:20:54,119 Speaker 2: just talking about a physical toy, but love comfort. Again, 333 00:20:54,240 --> 00:20:58,639 Speaker 2: someone's spoiling you. So this fulfillment or I guess reexperiencing 334 00:20:58,680 --> 00:21:02,239 Speaker 2: a positive childhood emotion and also positive childhood emotions that 335 00:21:02,280 --> 00:21:05,560 Speaker 2: come from something so simple and non threatening is like 336 00:21:05,920 --> 00:21:11,120 Speaker 2: a fluffy toy. It's deeply comforting and really affirming when 337 00:21:11,160 --> 00:21:15,320 Speaker 2: everything else in life is very serious and very dangerous 338 00:21:15,400 --> 00:21:19,600 Speaker 2: and very disheartening. You know, this is a tangible connection 339 00:21:19,880 --> 00:21:22,199 Speaker 2: and a link to a time that is often perceived 340 00:21:22,200 --> 00:21:26,480 Speaker 2: there's a lot simpler, a lot safer, and filled with 341 00:21:26,520 --> 00:21:29,919 Speaker 2: a lot of like, you know, just unbridled joy. We 342 00:21:29,960 --> 00:21:34,119 Speaker 2: can also kind of understand this connection through the lens 343 00:21:34,119 --> 00:21:39,359 Speaker 2: of what psychologists call transitional objects. So this was a 344 00:21:39,440 --> 00:21:42,520 Speaker 2: term coined in the nineteen fifties by the British psychoanalyst 345 00:21:42,560 --> 00:21:45,119 Speaker 2: Donald Winnicott. We talk about him a lot on the 346 00:21:45,119 --> 00:21:49,320 Speaker 2: podcast actually and basically he I don't think he discovered this, 347 00:21:49,440 --> 00:21:53,040 Speaker 2: but he he basically talks a lot about transitional objects, 348 00:21:53,119 --> 00:21:56,600 Speaker 2: something like a security blanket or a teddy bear that 349 00:21:56,800 --> 00:21:59,880 Speaker 2: served as a really crucial role in early childhood development 350 00:22:00,359 --> 00:22:03,000 Speaker 2: as a way to help a child cope with separation 351 00:22:03,119 --> 00:22:06,320 Speaker 2: from their primary caregiver. If you cast your mind like 352 00:22:06,400 --> 00:22:08,800 Speaker 2: way back to like your first day of kindergarten or 353 00:22:08,840 --> 00:22:12,280 Speaker 2: your first day of school, you might remember that, you know, 354 00:22:12,600 --> 00:22:16,399 Speaker 2: you probably brought a toy to class. That's something that 355 00:22:16,440 --> 00:22:19,280 Speaker 2: a lot of early year teachers will recommend that, like 356 00:22:19,320 --> 00:22:23,119 Speaker 2: when children are first leaving their parents and spending a 357 00:22:23,160 --> 00:22:26,040 Speaker 2: lot of time alone without them and their comfort, to 358 00:22:26,160 --> 00:22:30,119 Speaker 2: bring an object or a toy that reminds them of 359 00:22:30,640 --> 00:22:34,400 Speaker 2: the comfort they experience, you know from a caregiver. It's 360 00:22:34,440 --> 00:22:38,040 Speaker 2: like this tangible thing that represents someone's presence or a 361 00:22:38,080 --> 00:22:41,760 Speaker 2: particular emotion when the person who normally creates that emotion 362 00:22:41,960 --> 00:22:45,400 Speaker 2: is absent. This is going to sound ridiculous, but there 363 00:22:45,440 --> 00:22:49,800 Speaker 2: has evidence to support that adults still kind of want 364 00:22:50,040 --> 00:22:55,679 Speaker 2: these comfort objects, and they still want these transitional toys. Basically, 365 00:22:55,800 --> 00:22:59,879 Speaker 2: you know, certain trinkets can serve a similar psychological function 366 00:23:00,119 --> 00:23:04,840 Speaker 2: or purpose. They become miniature security blankets or comfort items 367 00:23:04,880 --> 00:23:09,480 Speaker 2: that help us really navigate the anxieties and complexities of 368 00:23:09,520 --> 00:23:13,119 Speaker 2: adult life. I know this sounds bizarre, but they can 369 00:23:13,240 --> 00:23:19,159 Speaker 2: actually offer a real sense of consistency and safety and 370 00:23:19,400 --> 00:23:23,520 Speaker 2: familiarity when the rest of the world feels overwhelming. I 371 00:23:24,280 --> 00:23:27,640 Speaker 2: for one, It's gonna sound strange, but anytime I get 372 00:23:27,640 --> 00:23:30,080 Speaker 2: on a plane, I always bring one of my little 373 00:23:30,160 --> 00:23:32,359 Speaker 2: cherub figurines one of my Sonny angels with me. Like, 374 00:23:32,400 --> 00:23:34,920 Speaker 2: whenever I travel, I always have one in my bag 375 00:23:35,600 --> 00:23:37,760 Speaker 2: because I have such a you know, fear of flying. 376 00:23:38,080 --> 00:23:41,240 Speaker 2: It's if I'm really like freaking out. It's kind of 377 00:23:41,280 --> 00:23:45,760 Speaker 2: this weirdly anchoring force for me, which sounds ridiculous, but 378 00:23:46,080 --> 00:23:48,879 Speaker 2: they just bring me so much joy. It's hard not 379 00:23:48,920 --> 00:23:50,840 Speaker 2: to feel okay when I have one in my bag. 380 00:23:50,960 --> 00:23:54,960 Speaker 2: And also there's this weird psychological sense of like, ah, 381 00:23:55,280 --> 00:23:57,960 Speaker 2: can't be that bad, it can't be that scary if 382 00:23:57,960 --> 00:24:01,679 Speaker 2: I have like a little naked in a costume in 383 00:24:01,720 --> 00:24:04,760 Speaker 2: my pocket, that sounds really weird. If you don't know 384 00:24:04,800 --> 00:24:06,960 Speaker 2: what these are, like, just google them and it will 385 00:24:07,000 --> 00:24:09,479 Speaker 2: make sense. But yeah, it's just like, oh, how serious 386 00:24:09,520 --> 00:24:11,639 Speaker 2: can this situation really be? If I have this little 387 00:24:12,119 --> 00:24:14,840 Speaker 2: figuring thing, it's like this weird thing to pull you 388 00:24:14,920 --> 00:24:19,760 Speaker 2: out of a moment where you're getting too stressed. You know. Also, 389 00:24:19,760 --> 00:24:22,399 Speaker 2: adulthood just demands a lot of seriousness, and it demands 390 00:24:22,400 --> 00:24:26,159 Speaker 2: a lot of responsibility, and unfortunately, sometimes that comes with 391 00:24:26,920 --> 00:24:30,800 Speaker 2: the suppression of spontaneous play and laughter and being silly 392 00:24:30,840 --> 00:24:34,239 Speaker 2: and goofy and just stupid. And trinkets, by their very 393 00:24:34,359 --> 00:24:37,280 Speaker 2: nature are often non functional, like their primary purpose is 394 00:24:37,320 --> 00:24:42,159 Speaker 2: simply enjoyment and esthetic pleasure and to be fun. I 395 00:24:42,840 --> 00:24:44,560 Speaker 2: don't see the bad thing in that. I think that's 396 00:24:44,600 --> 00:24:47,639 Speaker 2: something that actually a lot of adults could do with. 397 00:24:47,720 --> 00:24:50,320 Speaker 2: I think it would really help us. I don't know, 398 00:24:50,400 --> 00:24:53,000 Speaker 2: take things a little bit less seriously. That's probably the 399 00:24:53,000 --> 00:24:56,160 Speaker 2: best way I can put it, you know, engaging with them. 400 00:24:56,400 --> 00:25:00,200 Speaker 2: I think it just really reintroduces a vital element of 401 00:25:00,200 --> 00:25:04,800 Speaker 2: of playful lightness into our adult lives. And here is 402 00:25:04,840 --> 00:25:07,200 Speaker 2: when we finally arrived to something that we've been kind 403 00:25:07,240 --> 00:25:11,640 Speaker 2: of circling for most of this episode, which is incredibly 404 00:25:11,680 --> 00:25:15,520 Speaker 2: important in this discussion, which is the power of nostalgia. 405 00:25:16,560 --> 00:25:21,440 Speaker 2: The power of nostalgia is hard at work in really 406 00:25:22,960 --> 00:25:27,080 Speaker 2: being the backbone of this industry collecting trinkets and small toys. 407 00:25:27,119 --> 00:25:29,560 Speaker 2: Like it's not a new concept. I think most of 408 00:25:29,640 --> 00:25:32,840 Speaker 2: us used to have something that we collected as a child. 409 00:25:33,359 --> 00:25:36,840 Speaker 2: For me, it was beanie babies. It was like literally everything. 410 00:25:37,359 --> 00:25:39,440 Speaker 2: Do you remember those pop figurings as well. Some people 411 00:25:39,520 --> 00:25:42,960 Speaker 2: used to collect those. Even if you collected stickers like that, 412 00:25:43,080 --> 00:25:49,960 Speaker 2: everyone had something, and brands realize what an emotional pool 413 00:25:50,119 --> 00:25:53,480 Speaker 2: it can be if they create something that reminds us 414 00:25:53,640 --> 00:25:56,240 Speaker 2: of something from the past, because this thing from the 415 00:25:56,280 --> 00:26:01,639 Speaker 2: past feels comforting. Let's like take beanie babies as an example, 416 00:26:01,640 --> 00:26:03,760 Speaker 2: because I feel like everyone knows what a beanie baby is. 417 00:26:04,320 --> 00:26:07,920 Speaker 2: Beanie babies had this like very unique bean field kind 418 00:26:07,960 --> 00:26:11,080 Speaker 2: of texture, and they had these quirky little names, and 419 00:26:11,520 --> 00:26:14,000 Speaker 2: they were incredibly cute and they were appealing. They were 420 00:26:14,040 --> 00:26:16,639 Speaker 2: also kind of creepy, and they were kind of like 421 00:26:16,680 --> 00:26:20,600 Speaker 2: a medium sized toy. I don't think it's crazy to 422 00:26:20,640 --> 00:26:22,320 Speaker 2: say that there is a kind of a lot of 423 00:26:22,320 --> 00:26:25,719 Speaker 2: similarities between jelly cats and Beanie Babies, and also between 424 00:26:25,720 --> 00:26:29,000 Speaker 2: things like La Booboos and Beanie Babies and any number 425 00:26:29,040 --> 00:26:34,119 Speaker 2: of soft blind box collectibles. Like it's very obvious to 426 00:26:34,160 --> 00:26:38,080 Speaker 2: me that these brands are just being like cool. If 427 00:26:38,119 --> 00:26:41,080 Speaker 2: we can activate a similar feeling to one that people 428 00:26:41,080 --> 00:26:44,440 Speaker 2: had in the past around collecting something cute and fluffy 429 00:26:44,480 --> 00:26:46,400 Speaker 2: that feels the same and kind of looks the same 430 00:26:46,400 --> 00:26:50,520 Speaker 2: in weird ways, we can make a heck ton of money. 431 00:26:50,960 --> 00:26:53,200 Speaker 2: In essence, I think that a lot of these toys 432 00:26:53,240 --> 00:26:56,160 Speaker 2: are like the beanie Babies of the digital age. They 433 00:26:56,200 --> 00:27:01,679 Speaker 2: are skillfully leveraging very similar psychological hooks like cuteness, scarcity, 434 00:27:01,760 --> 00:27:05,879 Speaker 2: even like investment potential. But it's been amplified by this 435 00:27:06,000 --> 00:27:09,560 Speaker 2: like the instant global reach and highly visual nature of 436 00:27:09,600 --> 00:27:13,960 Speaker 2: modern social media. It's just history repeating itself, but with 437 00:27:14,000 --> 00:27:19,679 Speaker 2: a much faster Internet connection. And there's also this like 438 00:27:19,840 --> 00:27:23,480 Speaker 2: perceived throwback to the good old days, Like these things 439 00:27:23,480 --> 00:27:27,199 Speaker 2: are very grounding and they feel very familiar. They have 440 00:27:27,240 --> 00:27:32,560 Speaker 2: a very whimsical nature. It's really evoking like a bygone error, 441 00:27:32,840 --> 00:27:37,440 Speaker 2: and these trinkets are carefully crafted to deliver that very warm, 442 00:27:37,440 --> 00:27:41,320 Speaker 2: fuzzy emotional connection to our past. They're trying to provide 443 00:27:41,400 --> 00:27:44,480 Speaker 2: psychological comfort, even if they're fresh off the production line, 444 00:27:44,520 --> 00:27:50,160 Speaker 2: And ultimately, nostalgia transforms purchasing from I guess, a purely 445 00:27:50,359 --> 00:27:57,800 Speaker 2: functional or rational decision into a deeply emotional one. We 446 00:27:57,880 --> 00:28:02,159 Speaker 2: reward ourselves with a nostalgic because it puts us in 447 00:28:02,160 --> 00:28:06,080 Speaker 2: a positive mood, or it helps us preserve a very simple, 448 00:28:06,200 --> 00:28:09,320 Speaker 2: nice feeling of connection to the past. All the stuff 449 00:28:09,320 --> 00:28:11,439 Speaker 2: that we read about in textbooks when it comes to 450 00:28:11,480 --> 00:28:16,240 Speaker 2: consumer decisions and the use of nostalgia and emotional hooks, 451 00:28:16,480 --> 00:28:20,480 Speaker 2: and even like decisions when it comes to the texture 452 00:28:20,520 --> 00:28:23,160 Speaker 2: and the feel and the size of an object, and 453 00:28:23,600 --> 00:28:26,600 Speaker 2: all these things, like the cuteness of an object, all 454 00:28:26,640 --> 00:28:30,280 Speaker 2: that stuff has been carefully crafted these days, Like there 455 00:28:30,280 --> 00:28:34,360 Speaker 2: are studies on what kind of faces people think are 456 00:28:34,359 --> 00:28:37,879 Speaker 2: more cute and what kind of textures or fabrics people 457 00:28:37,880 --> 00:28:40,600 Speaker 2: find more comforting. And it's like they've taken all this 458 00:28:40,680 --> 00:28:42,840 Speaker 2: information that we've known for a long time and all 459 00:28:42,840 --> 00:28:46,040 Speaker 2: this psychology around what drives people to buy, and they've 460 00:28:46,120 --> 00:28:51,000 Speaker 2: created like the perfect item, the perfect thing that we 461 00:28:51,040 --> 00:28:54,480 Speaker 2: all want. Let's shift gears and let's really like, I 462 00:28:54,480 --> 00:28:56,360 Speaker 2: think it's time to talk about the economy. I think 463 00:28:56,400 --> 00:28:59,480 Speaker 2: it's time to really like I've been circling around it, 464 00:29:00,000 --> 00:29:03,440 Speaker 2: it's time to talk about the money behind this and 465 00:29:04,000 --> 00:29:08,480 Speaker 2: whether or not something like the booboos are in fact 466 00:29:08,840 --> 00:29:12,040 Speaker 2: a recession indicator. So this basically started as like a 467 00:29:12,120 --> 00:29:16,520 Speaker 2: joke on TikTok, and it has now spawned articles in 468 00:29:16,680 --> 00:29:21,600 Speaker 2: the Australian Financial Review, in Vogue, in CNN, across countless 469 00:29:21,600 --> 00:29:25,480 Speaker 2: blogs that the rise of collectibles and of collecting is 470 00:29:25,520 --> 00:29:28,600 Speaker 2: a sign that the economy is about to freakin' tank. 471 00:29:29,560 --> 00:29:32,800 Speaker 2: If we really dive deeper into what's driving this recent 472 00:29:32,840 --> 00:29:35,040 Speaker 2: surge and drinket culture, we can kind of develop a 473 00:29:35,040 --> 00:29:38,840 Speaker 2: better understanding of why people and economists are like maybe 474 00:29:38,880 --> 00:29:42,960 Speaker 2: thinking this way. We know that the main proportion of 475 00:29:43,080 --> 00:29:48,920 Speaker 2: these engaged consumers in these trends primarily Gen Z and 476 00:29:48,960 --> 00:29:52,040 Speaker 2: younger millennials, and this is the same generation that is 477 00:29:52,040 --> 00:29:57,520 Speaker 2: facing very unique economic realities compared to their predecessors. I 478 00:29:57,560 --> 00:30:01,000 Speaker 2: saw this really fascinating video from an amaz creator and 479 00:30:01,760 --> 00:30:04,240 Speaker 2: a brand strategy consultant. I guess he is on TikTok, 480 00:30:04,520 --> 00:30:08,520 Speaker 2: sime as Eugene Heally, and he articulated this trend so perfectly. 481 00:30:08,560 --> 00:30:13,440 Speaker 2: He basically discusses how, unlike previous generations, many young adults 482 00:30:13,440 --> 00:30:17,200 Speaker 2: are finding themselves increasingly locked out of traditional markers of 483 00:30:17,200 --> 00:30:20,840 Speaker 2: adult success, most notably home ownership. This is not new 484 00:30:20,880 --> 00:30:23,040 Speaker 2: to us. I think everyone who is in their twenties 485 00:30:23,120 --> 00:30:27,560 Speaker 2: understands this. These days, only around twenty three percent of 486 00:30:27,600 --> 00:30:30,240 Speaker 2: people in their twenties are from twenty to twenty nine 487 00:30:30,360 --> 00:30:33,880 Speaker 2: own a home, compared to forty percent of boomers at 488 00:30:33,880 --> 00:30:38,000 Speaker 2: the same age that we are. Like, everyone knows, house 489 00:30:38,080 --> 00:30:42,760 Speaker 2: prizes outpacing wage growth, there's not enough houses. Mortgage rates 490 00:30:42,760 --> 00:30:46,240 Speaker 2: are ridiculous. Whilst you know, some people have found a 491 00:30:46,240 --> 00:30:49,440 Speaker 2: way to enter the market, often with family assistance or 492 00:30:49,440 --> 00:30:53,760 Speaker 2: by compromising on location or on significant parts of their life. 493 00:30:54,600 --> 00:30:58,080 Speaker 2: Most people seventy seven percent of people in their twenties 494 00:30:58,240 --> 00:31:01,720 Speaker 2: feel that home ownership is a very distant, if not 495 00:31:01,800 --> 00:31:07,200 Speaker 2: impossible dream. So when big traditional aspirations like owning a 496 00:31:07,240 --> 00:31:10,520 Speaker 2: home become unattainable, which I think is a sign that 497 00:31:10,880 --> 00:31:14,560 Speaker 2: our economy isn't working. If people literally can't afford shelter 498 00:31:14,840 --> 00:31:18,360 Speaker 2: and the security of a home, what do people channel 499 00:31:18,800 --> 00:31:21,880 Speaker 2: their desire for stability and personal expression and a sense 500 00:31:21,880 --> 00:31:29,720 Speaker 2: of accomplishment into often its more accessible forms of consumption clothes, travel, cars, 501 00:31:30,360 --> 00:31:34,440 Speaker 2: also trinkets. Basically, you know, this generation, we may be 502 00:31:34,600 --> 00:31:38,360 Speaker 2: locked out of the property market, but we feel very 503 00:31:38,480 --> 00:31:43,840 Speaker 2: locked into this accessible delight of collecting. The idea that small, 504 00:31:44,240 --> 00:31:50,080 Speaker 2: relatively inexpensive luxury items tend to surge during economic downturns 505 00:31:50,280 --> 00:31:55,680 Speaker 2: is actually known as the lipstick effect or lipstick economy theory, 506 00:31:55,760 --> 00:31:59,720 Speaker 2: and it was popularized by someone called Leonard Lauder. Does 507 00:31:59,720 --> 00:32:03,040 Speaker 2: that las name sound familiar? Lrder I E S Day 508 00:32:03,120 --> 00:32:07,160 Speaker 2: Lader one of the biggest beauty brands in the world. 509 00:32:07,360 --> 00:32:11,720 Speaker 2: They own so many like smaller makeup companies. This guy, 510 00:32:12,240 --> 00:32:15,640 Speaker 2: lened Later, the chairman of es Day Later, basically observed 511 00:32:16,200 --> 00:32:19,480 Speaker 2: a spike in lipstick sales after the nine eleven terrorist 512 00:32:19,520 --> 00:32:22,880 Speaker 2: attacks and also during the early two thousands recession, and 513 00:32:23,040 --> 00:32:27,520 Speaker 2: he basically said, when we are faced with economic uncertainty 514 00:32:27,720 --> 00:32:31,760 Speaker 2: and tightening budgets and less money to spend overall on 515 00:32:31,840 --> 00:32:36,760 Speaker 2: big things, we might go without larger, more significant purchases, 516 00:32:37,600 --> 00:32:40,440 Speaker 2: but we still crave a sense of indulgence and a 517 00:32:40,480 --> 00:32:44,560 Speaker 2: psychological pick me up. Lipstick. You know, that was the 518 00:32:44,600 --> 00:32:48,000 Speaker 2: example he was working off of is accessible, and it's 519 00:32:48,000 --> 00:32:51,680 Speaker 2: an affordable luxury, and it's small, so it becomes the 520 00:32:51,840 --> 00:32:55,600 Speaker 2: chosen form of indulgence when larger forms of indulgence are 521 00:32:55,720 --> 00:32:59,600 Speaker 2: just out of reach. Just like that high end lipstick. 522 00:33:00,000 --> 00:33:04,000 Speaker 2: Brinkets offer a little feeling of luxury and instant gratification 523 00:33:04,520 --> 00:33:09,800 Speaker 2: without requiring the significant financial commitment of a big ticket item. 524 00:33:09,880 --> 00:33:13,160 Speaker 2: And this perfectly aligns with what we know as little 525 00:33:13,200 --> 00:33:18,920 Speaker 2: tree culture, where consumers consciously opt for, you know, small, 526 00:33:19,640 --> 00:33:22,760 Speaker 2: little frequent indulgences as a way to boost their mood 527 00:33:23,800 --> 00:33:28,160 Speaker 2: rather than larger splurges that are out of reach. You know, 528 00:33:28,280 --> 00:33:33,000 Speaker 2: even in the midst of economic uncertainty and global uncertainty 529 00:33:33,040 --> 00:33:35,880 Speaker 2: and maybe even a recession, we still want a sense 530 00:33:35,880 --> 00:33:38,800 Speaker 2: of normalcy and we still want we still want a 531 00:33:38,840 --> 00:33:43,400 Speaker 2: sense of joy and happiness. And basically that is what 532 00:33:43,720 --> 00:33:46,960 Speaker 2: trinkets and la booboos and jellycats and sunny angels and 533 00:33:47,000 --> 00:33:50,239 Speaker 2: whatever else there is are a sign of. They are 534 00:33:50,240 --> 00:33:55,120 Speaker 2: a sign of these companies coming to fill a gap 535 00:33:55,480 --> 00:33:59,000 Speaker 2: in our economy. So with that bleak kind of picture 536 00:33:59,040 --> 00:34:02,040 Speaker 2: in mind, we are going to take another short break. 537 00:34:02,080 --> 00:34:03,920 Speaker 2: But when you return, we're going to talk about something 538 00:34:03,920 --> 00:34:06,400 Speaker 2: a little bit different, which is the role of dopamine, 539 00:34:06,640 --> 00:34:09,759 Speaker 2: the role of impulse buys, and whether we can call 540 00:34:09,800 --> 00:34:18,399 Speaker 2: this behavior addictive. Stay with us, Okay, we are back 541 00:34:18,440 --> 00:34:22,640 Speaker 2: and we are talking about trinkets. I think that whilst 542 00:34:22,800 --> 00:34:25,600 Speaker 2: you know, collecting trinkets is very fun and it's joyful 543 00:34:25,640 --> 00:34:29,000 Speaker 2: and it's kind of harmless most of the time, by 544 00:34:29,040 --> 00:34:31,920 Speaker 2: their very design and how they are being designed currently, 545 00:34:31,960 --> 00:34:36,480 Speaker 2: they're often perfectly primed for impulse purchases and over consumption, 546 00:34:37,160 --> 00:34:40,160 Speaker 2: so they have this relatively low price point right. They're 547 00:34:40,160 --> 00:34:44,040 Speaker 2: also very very cute, and these days they're presented in 548 00:34:44,160 --> 00:34:46,080 Speaker 2: blind boxes, so you don't really know what you're going 549 00:34:46,160 --> 00:34:48,400 Speaker 2: to get. It's kind of like gambling, which we're going 550 00:34:48,400 --> 00:34:50,319 Speaker 2: to talk about a little bit later. But all of 551 00:34:50,360 --> 00:34:53,239 Speaker 2: these things combine and create this immediate urge to buy 552 00:34:53,280 --> 00:34:56,440 Speaker 2: on the spot. The instant kind of dopamine hit associated 553 00:34:56,440 --> 00:35:01,240 Speaker 2: with buying these figures often overrides rational financeial future planning. 554 00:35:01,920 --> 00:35:05,600 Speaker 2: If not done cautiously, it can lead to a very 555 00:35:05,640 --> 00:35:09,759 Speaker 2: habitual and frequent overspending over something that you know, as 556 00:35:09,800 --> 00:35:12,440 Speaker 2: much as it's cute, we don't really need. I also 557 00:35:12,520 --> 00:35:15,560 Speaker 2: think that the sheer ease of online shopping these days, 558 00:35:15,640 --> 00:35:22,360 Speaker 2: and one click purchasing effectively even further removes the friction 559 00:35:22,840 --> 00:35:25,400 Speaker 2: that might otherwise allow for kind of like a second 560 00:35:25,440 --> 00:35:28,319 Speaker 2: thought and a second thought of like do I need this. 561 00:35:29,120 --> 00:35:32,359 Speaker 2: Social media also has a really critical role to play 562 00:35:32,360 --> 00:35:36,680 Speaker 2: in this kind of like competitive consumerism. Seeing perfectly curated 563 00:35:36,719 --> 00:35:41,600 Speaker 2: collections rare fines massive whole holes people who you admire 564 00:35:41,600 --> 00:35:47,320 Speaker 2: online Having this thing often creates intense pressure to acquire more, 565 00:35:47,719 --> 00:35:51,160 Speaker 2: to have the best collection, or simply to kind of 566 00:35:51,200 --> 00:35:53,719 Speaker 2: just like keep pace with other people. And this can 567 00:35:53,760 --> 00:35:57,880 Speaker 2: really tragically push people to spend well above their means, 568 00:35:57,960 --> 00:36:01,680 Speaker 2: and it's driven by social comparison more than genuine desire. 569 00:36:02,520 --> 00:36:07,000 Speaker 2: Because of this comparison and a fear of missing out 570 00:36:07,040 --> 00:36:09,520 Speaker 2: on the latest and greatest item that shows that you're 571 00:36:09,560 --> 00:36:12,720 Speaker 2: in a in the know, it's really not a surprise 572 00:36:12,800 --> 00:36:15,400 Speaker 2: that people get emotionally invested in whether they manage to 573 00:36:15,440 --> 00:36:18,680 Speaker 2: actually get the item. It's not just about having as 574 00:36:18,719 --> 00:36:21,759 Speaker 2: many as possible, it's about just having one or two 575 00:36:21,840 --> 00:36:24,359 Speaker 2: to show that you're part of the group. This can 576 00:36:24,440 --> 00:36:26,719 Speaker 2: lead to even more impulse spending, like something that you 577 00:36:26,760 --> 00:36:28,960 Speaker 2: didn't budget for, something that you didn't account for that 578 00:36:29,000 --> 00:36:31,600 Speaker 2: you have to constantly buy the new trending item to 579 00:36:31,600 --> 00:36:34,400 Speaker 2: feel like you fit in, and you might simply follow 580 00:36:34,440 --> 00:36:36,839 Speaker 2: this urge again because you don't want to miss out. 581 00:36:37,280 --> 00:36:41,400 Speaker 2: Behind the scenes as well, this is called scarcity marketing, 582 00:36:41,920 --> 00:36:46,640 Speaker 2: and it is working over time on nearly all of us. 583 00:36:47,200 --> 00:36:51,719 Speaker 2: Have you noticed that when something is trending, it's a 584 00:36:51,719 --> 00:36:56,160 Speaker 2: lot harder to get Think like the road lipsticks, think 585 00:36:56,320 --> 00:36:59,919 Speaker 2: the La Booboos, think any number of trending products. There, 586 00:37:00,000 --> 00:37:03,520 Speaker 2: there's a period where you cannot get your hands on 587 00:37:03,560 --> 00:37:08,840 Speaker 2: that thing. That is not by accident. It's not because 588 00:37:09,440 --> 00:37:13,520 Speaker 2: these companies didn't know how much people would want their product. 589 00:37:13,960 --> 00:37:17,880 Speaker 2: It's because when they first launch something, they make it 590 00:37:17,920 --> 00:37:20,840 Speaker 2: so that it is scarce so that people want it more, 591 00:37:21,200 --> 00:37:24,799 Speaker 2: which creates huge future demand and an ever present sense 592 00:37:24,840 --> 00:37:27,520 Speaker 2: of urgency to buy. Bye by when you got the 593 00:37:27,520 --> 00:37:32,520 Speaker 2: opportunity that may have otherwise not been there. Something you 594 00:37:32,560 --> 00:37:34,680 Speaker 2: guys may actually not know is that I actually have 595 00:37:35,120 --> 00:37:37,439 Speaker 2: an economics degree. Just going to throw that out there, 596 00:37:37,520 --> 00:37:41,600 Speaker 2: but I studied economics at UNI alongside studying psychology, and 597 00:37:41,680 --> 00:37:45,520 Speaker 2: this is a really basic principle that they teach you 598 00:37:45,560 --> 00:37:49,759 Speaker 2: in like microeconomics one oh one, which is basically that 599 00:37:49,840 --> 00:37:53,359 Speaker 2: when the demand is more than their supply, people will 600 00:37:53,360 --> 00:37:56,640 Speaker 2: pay more for something, and so when you deliberately reduce 601 00:37:56,800 --> 00:38:00,560 Speaker 2: or limit supply, it is a way to control prices 602 00:38:00,600 --> 00:38:05,480 Speaker 2: and to control the market and to control consumer behavior 603 00:38:06,000 --> 00:38:09,840 Speaker 2: in the most simplest way, think about the cost of 604 00:38:09,920 --> 00:38:14,160 Speaker 2: oranges on you know, at your local grocery store versus 605 00:38:14,200 --> 00:38:18,200 Speaker 2: on an island. So at your local grocery store they 606 00:38:18,239 --> 00:38:20,480 Speaker 2: have to charge somewhere near the market price for an 607 00:38:20,480 --> 00:38:22,759 Speaker 2: orange or for milk, because if they don't, you can 608 00:38:22,800 --> 00:38:24,920 Speaker 2: go to another grocery store and you'll find it for cheaper. 609 00:38:25,520 --> 00:38:28,719 Speaker 2: But when, for example, you're on an island and there's 610 00:38:28,760 --> 00:38:31,000 Speaker 2: less oranges and there's not as many places that you 611 00:38:31,000 --> 00:38:34,200 Speaker 2: can go to get an item, you will easily pay 612 00:38:34,239 --> 00:38:38,319 Speaker 2: more for that thing. You'll pay more because firstly, there's 613 00:38:38,320 --> 00:38:40,680 Speaker 2: not other places that you can get it, but also 614 00:38:40,680 --> 00:38:43,560 Speaker 2: because you see that item is more scarce and you 615 00:38:43,600 --> 00:38:47,799 Speaker 2: see it as more valuable. So basically, a lot of 616 00:38:47,840 --> 00:38:53,080 Speaker 2: companies these days are taking that lack of availability and 617 00:38:54,120 --> 00:38:58,520 Speaker 2: the exclusivity of their items and using that to drive 618 00:38:58,920 --> 00:39:02,880 Speaker 2: an even higher desire to own something that they that 619 00:39:02,920 --> 00:39:06,920 Speaker 2: they make. So basically they're deliberately creating things like limited 620 00:39:06,960 --> 00:39:11,640 Speaker 2: collections or super rare items, or deliberately only doing limited 621 00:39:11,719 --> 00:39:14,600 Speaker 2: drops so that when the time comes, they can not 622 00:39:14,640 --> 00:39:17,160 Speaker 2: only sell them for a much higher price than what 623 00:39:17,239 --> 00:39:19,719 Speaker 2: they're worth, but they also know they will always have 624 00:39:19,760 --> 00:39:25,200 Speaker 2: people in line waiting to buy them. It's also why when, 625 00:39:25,840 --> 00:39:29,680 Speaker 2: for example, a new collection drops, or when something suddenly 626 00:39:29,719 --> 00:39:33,200 Speaker 2: becomes available, people start hoarding. I saw this video the 627 00:39:33,239 --> 00:39:36,320 Speaker 2: other day of you know whatever, like a pop mart 628 00:39:36,480 --> 00:39:41,200 Speaker 2: vending machine and some guy at the very front buying out, 629 00:39:41,280 --> 00:39:46,320 Speaker 2: buying like twenty No one needs twenty. You don't need twenty, 630 00:39:46,520 --> 00:39:52,040 Speaker 2: Like that's ridiculous, It's like what But because you know 631 00:39:52,080 --> 00:39:55,120 Speaker 2: that you can resell them because the perceived value of 632 00:39:55,160 --> 00:39:57,600 Speaker 2: them is higher. They know that someone isn't just going 633 00:39:57,680 --> 00:39:59,879 Speaker 2: to buy one and be satisfied. They're going to buy 634 00:40:00,239 --> 00:40:04,480 Speaker 2: a lot of them because the demand is higher than 635 00:40:04,520 --> 00:40:08,279 Speaker 2: the supply. So this drive to buy more, right, it 636 00:40:08,320 --> 00:40:11,880 Speaker 2: seems very very powerful, especially with collectibles, like that's the 637 00:40:11,880 --> 00:40:14,560 Speaker 2: whole point. They are something you collect, you gain more 638 00:40:14,600 --> 00:40:19,640 Speaker 2: of them because of that. Could we call this habit addictive? 639 00:40:20,480 --> 00:40:23,840 Speaker 2: It's a complex question, but the short answer is yes. 640 00:40:24,080 --> 00:40:28,880 Speaker 2: Certain aspects, particularly with blind boxes and the relentless pursuit 641 00:40:28,960 --> 00:40:34,960 Speaker 2: of rare items can absolutely tap into established addictive psychological mechanisms. 642 00:40:35,200 --> 00:40:40,000 Speaker 2: You can become addicted to gaining access to this thing, 643 00:40:40,080 --> 00:40:42,600 Speaker 2: or buying more and more and more of more blind boxes, 644 00:40:42,640 --> 00:40:45,319 Speaker 2: more trinket items, having as many as you possibly can 645 00:40:45,320 --> 00:40:47,760 Speaker 2: get your hands on. At the heart of it lies 646 00:40:47,880 --> 00:40:52,719 Speaker 2: our brains, dopamine and reward systems. Dopamine. We know that 647 00:40:52,760 --> 00:40:55,680 Speaker 2: it's a very powerful neurotransmitter. It is released when we 648 00:40:55,719 --> 00:41:00,759 Speaker 2: experience something pleasurable, exciting, or rewarding, or something we have 649 00:41:00,840 --> 00:41:05,160 Speaker 2: been anticipating. This is what economists actually call the dopamine economy, 650 00:41:05,200 --> 00:41:08,840 Speaker 2: and in the context of trinkets, this dopamine rush occurs 651 00:41:08,880 --> 00:41:13,120 Speaker 2: at several key moments. It occurs before you get your 652 00:41:13,120 --> 00:41:15,239 Speaker 2: hands on something and you're questioning, am I going to 653 00:41:15,320 --> 00:41:18,600 Speaker 2: get one? Am I not? There's anticipation. It occurs when 654 00:41:18,600 --> 00:41:21,200 Speaker 2: you make the purchase and you have it. It occurs 655 00:41:21,239 --> 00:41:23,920 Speaker 2: when you open the box. It occurs when you find 656 00:41:23,920 --> 00:41:26,880 Speaker 2: maybe a rare item. It occurs when you complete a set. 657 00:41:27,200 --> 00:41:31,040 Speaker 2: It occurs when you go back for more. This surge 658 00:41:31,120 --> 00:41:35,600 Speaker 2: of dopamine powerfully reinforces the behavior, and your brain quickly 659 00:41:35,719 --> 00:41:39,600 Speaker 2: learns that this action of buying or unboxing equals pleasure, 660 00:41:40,080 --> 00:41:44,120 Speaker 2: leading to a strong, ingrained desire to continue to repeat 661 00:41:44,160 --> 00:41:47,040 Speaker 2: that action. This is the core of what we call 662 00:41:47,040 --> 00:41:51,239 Speaker 2: operant conditioning. Behaviors followed by a satisfying consequence are more 663 00:41:51,360 --> 00:41:54,279 Speaker 2: likely to be repeated. So this leads us to kind 664 00:41:54,320 --> 00:41:58,120 Speaker 2: of a second, second fascinating question. Not only a blind 665 00:41:58,120 --> 00:42:01,320 Speaker 2: boxers addictive, but are they simply just another form of gambling? 666 00:42:01,560 --> 00:42:04,359 Speaker 2: Is that why we get so hooked on them? There 667 00:42:04,400 --> 00:42:10,439 Speaker 2: are absolutely parallels between blind boxes and the pokey's or 668 00:42:10,600 --> 00:42:14,200 Speaker 2: slot gambling, or whatever kind of gambling you may be 669 00:42:14,280 --> 00:42:18,239 Speaker 2: thinking of, especially concerning the underlying mechanisms that drive engagement, 670 00:42:18,760 --> 00:42:23,000 Speaker 2: which is the idea of intermittent reinforcement. So let me 671 00:42:23,000 --> 00:42:26,640 Speaker 2: explain this. Basically, In classic gambling, you never know if 672 00:42:26,680 --> 00:42:29,560 Speaker 2: your next bet is gonna win, but the possibility of 673 00:42:29,600 --> 00:42:32,959 Speaker 2: a payout keeps you playing. In blind boxes, you don't 674 00:42:33,000 --> 00:42:36,480 Speaker 2: know which specific figure you're gonna get, but the possibility 675 00:42:36,520 --> 00:42:39,480 Speaker 2: of obtaining a rare one or a highly desired item 676 00:42:39,920 --> 00:42:45,319 Speaker 2: keeps you buying them. This fundamental principle creates a highly 677 00:42:45,360 --> 00:42:49,600 Speaker 2: persistent and compelling behavioral loop. The element of uncertainty and 678 00:42:49,920 --> 00:42:54,920 Speaker 2: the anticipation is central to both gambling and blind boxes. 679 00:42:55,000 --> 00:42:58,520 Speaker 2: Like the thrilling anticipation of opening a blind box is 680 00:42:58,640 --> 00:43:01,880 Speaker 2: much like the anticipate you have before pulling the leather 681 00:43:02,360 --> 00:43:06,640 Speaker 2: on a slot machine. It generates immediate excitement, anticipation, and 682 00:43:06,680 --> 00:43:10,799 Speaker 2: a rush of dopamine. The unknown outcome is precisely what 683 00:43:10,880 --> 00:43:14,680 Speaker 2: is making this experience so alluring. There's also the inherent 684 00:43:14,719 --> 00:43:17,520 Speaker 2: financial risk involved. Albeit you know it's definitely on a 685 00:43:17,560 --> 00:43:21,319 Speaker 2: smaller scale with blind boxes than traditional gambling, but you 686 00:43:21,360 --> 00:43:24,640 Speaker 2: never know you are spending money for an uncertain outcome. 687 00:43:25,239 --> 00:43:26,920 Speaker 2: I remember trying to explain this to my mum and 688 00:43:26,960 --> 00:43:28,040 Speaker 2: she was like, what do you mean you don't know 689 00:43:28,080 --> 00:43:31,560 Speaker 2: which one you get? She's like, that's ridiculous. Imagine going 690 00:43:31,560 --> 00:43:33,640 Speaker 2: to a movie and not knowing what movie you're you're 691 00:43:33,640 --> 00:43:35,600 Speaker 2: going to get tickets to, and just hoping it was 692 00:43:35,640 --> 00:43:37,960 Speaker 2: the one that you wanted to go to. She's like, 693 00:43:38,280 --> 00:43:43,080 Speaker 2: no other, no other industry works that way. The way 694 00:43:43,120 --> 00:43:45,080 Speaker 2: I described it to her was like, yes, you could 695 00:43:45,160 --> 00:43:47,279 Speaker 2: end up with something that you don't particularly want, but 696 00:43:47,320 --> 00:43:50,360 Speaker 2: you could also end up with something really good and 697 00:43:50,520 --> 00:43:53,799 Speaker 2: really desirable, and you could also end up with one 698 00:43:53,800 --> 00:43:56,200 Speaker 2: that isn't worth a lot of money, and you can 699 00:43:56,239 --> 00:43:58,600 Speaker 2: resell it and then you can buy more, and it's 700 00:43:58,600 --> 00:44:02,120 Speaker 2: this whole cycle. The frustration you know, of getting multiple 701 00:44:02,200 --> 00:44:06,279 Speaker 2: duds or of duplicate figures as well. That's also has 702 00:44:06,280 --> 00:44:10,399 Speaker 2: a gambling term. It's called chasing losses, continuously buying more 703 00:44:10,440 --> 00:44:13,600 Speaker 2: boxes or continuously gambling with the hope that you're finally 704 00:44:13,640 --> 00:44:17,040 Speaker 2: going to win. The thing is is that actually you 705 00:44:17,040 --> 00:44:19,640 Speaker 2: would think that these losses told like, you know, kind 706 00:44:19,640 --> 00:44:22,560 Speaker 2: of redirected someone and told them to stop. But the 707 00:44:22,600 --> 00:44:25,640 Speaker 2: more you sink into something, the more you sink into 708 00:44:25,680 --> 00:44:27,920 Speaker 2: the slot machines, the more you sink into the blind boxes, 709 00:44:28,200 --> 00:44:31,560 Speaker 2: the more you then definitely need a win because otherwise 710 00:44:31,560 --> 00:44:35,160 Speaker 2: you've lost all that money for nothing. So it's not 711 00:44:35,239 --> 00:44:39,959 Speaker 2: explicitly gambling, but there have been some arguments that things 712 00:44:40,040 --> 00:44:44,160 Speaker 2: like blind boxes do actually introduce young people in particular 713 00:44:44,200 --> 00:44:48,160 Speaker 2: to these gambling like mechanisms at a really early age. 714 00:44:48,760 --> 00:44:51,239 Speaker 2: So if you're a parent, or if you're a consumer, 715 00:44:51,400 --> 00:44:53,200 Speaker 2: like you might not know this and you're just like, oh, 716 00:44:53,200 --> 00:44:56,399 Speaker 2: it's a harmless toy. It's just like this cute little 717 00:44:56,440 --> 00:44:58,880 Speaker 2: fluffy thing. I'll give my kids some money, and then 718 00:44:58,920 --> 00:45:00,600 Speaker 2: I'll give them some more money. And then suddenly they 719 00:45:00,640 --> 00:45:03,560 Speaker 2: need more money. You might not realize that actually the 720 00:45:03,640 --> 00:45:07,720 Speaker 2: psychological conditioning that is happening behind the scenes is rooted 721 00:45:07,840 --> 00:45:13,040 Speaker 2: in again intermittent reinforcement, rooted in the same mechanisms that 722 00:45:13,160 --> 00:45:16,360 Speaker 2: create gambling addicts, and that could have the potential to 723 00:45:16,440 --> 00:45:20,520 Speaker 2: normalize or even prime individuals for future gambling behaviors where 724 00:45:20,520 --> 00:45:24,640 Speaker 2: the stakes are much higher. Research and developmental psychology highlights 725 00:45:24,680 --> 00:45:27,960 Speaker 2: how sensitive children and teenagers are to these kinds of 726 00:45:28,000 --> 00:45:31,239 Speaker 2: reinforcement schedules, and it means that they are more vulnerable 727 00:45:31,520 --> 00:45:34,320 Speaker 2: to such conditioning. There was a twenty twenty one study 728 00:45:34,320 --> 00:45:37,319 Speaker 2: conducted here in Australia in New South Wales, the state 729 00:45:37,400 --> 00:45:40,440 Speaker 2: I live in, that actually found that at least in 730 00:45:40,480 --> 00:45:43,640 Speaker 2: the short term, young girls and adolescent girls who bought 731 00:45:43,760 --> 00:45:47,160 Speaker 2: or sold online kind of loop boxes or blind boxes 732 00:45:47,560 --> 00:45:51,919 Speaker 2: actually demonstrated more positive attitudes towards gambling. They were more 733 00:45:52,160 --> 00:45:55,440 Speaker 2: likely to want to gamble in a more high stake 734 00:45:55,520 --> 00:45:58,480 Speaker 2: setting compared to those who didn't behave in these early 735 00:45:58,680 --> 00:46:02,560 Speaker 2: or didn't engage in these early kind of trade sell behaviors. 736 00:46:02,800 --> 00:46:06,279 Speaker 2: And it just shows how malleable young people are to 737 00:46:06,680 --> 00:46:08,879 Speaker 2: these things, and the extra layer of course we might 738 00:46:08,920 --> 00:46:12,520 Speaker 2: need when encouraging this kind of uncertain buying behavior, And 739 00:46:12,600 --> 00:46:17,560 Speaker 2: it's really important to have this conversation. It's really important 740 00:46:17,600 --> 00:46:21,120 Speaker 2: to say, you know, this industry is, at the end 741 00:46:21,160 --> 00:46:24,040 Speaker 2: of the day, not just based on making you happy. 742 00:46:24,480 --> 00:46:28,400 Speaker 2: Like people aren't creating buying boxes like PopMart and all 743 00:46:28,440 --> 00:46:31,319 Speaker 2: these companies aren't creating this because they just want you 744 00:46:31,360 --> 00:46:34,080 Speaker 2: to have fun. They're creating this, and they're doing this 745 00:46:34,160 --> 00:46:37,560 Speaker 2: deliberately because they know that they can make a crap 746 00:46:37,640 --> 00:46:41,840 Speaker 2: ton of money if they leverage these psychological insights. The 747 00:46:41,960 --> 00:46:45,239 Speaker 2: same way that social media has been designed to be addictive, 748 00:46:45,320 --> 00:46:49,400 Speaker 2: and social media platforms have literal neuroscientists on their team 749 00:46:49,520 --> 00:46:52,879 Speaker 2: to keep you hooked, these companies have neuroscientists on their 750 00:46:52,920 --> 00:46:55,960 Speaker 2: team to keep you buying. So it's just important to 751 00:46:56,040 --> 00:47:00,160 Speaker 2: add that into the conversation. It's also important as well 752 00:47:00,600 --> 00:47:05,919 Speaker 2: to understand that collecting and trinkets as a hobby, it's 753 00:47:05,960 --> 00:47:09,359 Speaker 2: not all the time always going to be dangerous. There 754 00:47:09,360 --> 00:47:11,040 Speaker 2: are many ways that it can play out that is 755 00:47:11,120 --> 00:47:15,560 Speaker 2: just really enjoyable and completely harmless. So I don't want 756 00:47:15,560 --> 00:47:20,880 Speaker 2: to like completely pathologize and scorn this hobby. There's this 757 00:47:20,920 --> 00:47:22,880 Speaker 2: hobby that I have, and I don't particularly think that 758 00:47:22,920 --> 00:47:25,400 Speaker 2: I'm addicted, and for me, it's always been a source 759 00:47:25,440 --> 00:47:30,680 Speaker 2: of joy. Millions upon millions of people worldwide collect various items. 760 00:47:30,680 --> 00:47:34,040 Speaker 2: They collect stamps, they collect coins, they collect action figures, 761 00:47:34,080 --> 00:47:38,239 Speaker 2: they collect art, designer toys, whatever it is, and a 762 00:47:38,280 --> 00:47:41,040 Speaker 2: lot of them, the majority of them, don't develop a 763 00:47:41,080 --> 00:47:45,400 Speaker 2: problematic addiction, and they don't spend more than their means. 764 00:47:45,880 --> 00:47:47,960 Speaker 2: So for most of us, this activity is just a 765 00:47:48,000 --> 00:47:51,279 Speaker 2: genuine source of pleasure. It's a creative outlet, it's a 766 00:47:51,360 --> 00:47:55,040 Speaker 2: means of social expression, personal expression. It's just a fulfilling, 767 00:47:55,239 --> 00:47:59,520 Speaker 2: harmless hobby. And I think that finishing on that context 768 00:47:59,520 --> 00:48:02,520 Speaker 2: is important because the pursuit of joy, which is what 769 00:48:02,560 --> 00:48:05,439 Speaker 2: this is really all about, is definitely a fundamental human need. 770 00:48:06,160 --> 00:48:09,640 Speaker 2: If a small, well considered purchase of a trinket genuinely 771 00:48:09,680 --> 00:48:12,680 Speaker 2: brings a smile to your face, genuinely makes you feel 772 00:48:12,920 --> 00:48:16,800 Speaker 2: joyful and happy and childlike and peaceful, there's immense value 773 00:48:16,800 --> 00:48:20,160 Speaker 2: in that. You know, we are not robots designed solely 774 00:48:20,200 --> 00:48:24,840 Speaker 2: for productivity and efficiency. Like our emotional wellbeing is critical 775 00:48:25,040 --> 00:48:28,719 Speaker 2: and it's an irreplaceable component of a truly of a 776 00:48:28,760 --> 00:48:31,960 Speaker 2: truly fulfilling life. So if this thing brings you joy, 777 00:48:33,000 --> 00:48:35,680 Speaker 2: sometimes it might not be worth examining it any deeper 778 00:48:35,680 --> 00:48:38,799 Speaker 2: than that. Sometimes it's okay to just engage in it 779 00:48:38,840 --> 00:48:41,759 Speaker 2: and not feel shame and not feel like you're being manipulated. 780 00:48:43,320 --> 00:48:47,200 Speaker 2: It is still just a real, simple, the simple like 781 00:48:47,600 --> 00:48:52,080 Speaker 2: pathway to happiness. And yes, some people would argue that 782 00:48:52,280 --> 00:48:55,040 Speaker 2: buying happiness or having to buy things to make you 783 00:48:55,120 --> 00:48:59,120 Speaker 2: happy is inherently wrong or bad, but it is also 784 00:48:59,200 --> 00:49:02,040 Speaker 2: just kind of the world we live in. Everything costs 785 00:49:02,080 --> 00:49:04,840 Speaker 2: money these days, as long as you are being healthy 786 00:49:04,880 --> 00:49:07,600 Speaker 2: about it, and that you're also seeking out happiness and 787 00:49:07,640 --> 00:49:13,799 Speaker 2: purpose and fulfillment beyond just financial transactions and the act 788 00:49:13,840 --> 00:49:16,960 Speaker 2: of buying something. I think you're I think you're okay. 789 00:49:17,640 --> 00:49:20,680 Speaker 2: I think that trinket collecting is not is not the 790 00:49:20,719 --> 00:49:24,400 Speaker 2: devil for you, and is not a huge, terrible evil 791 00:49:24,480 --> 00:49:28,560 Speaker 2: like I do it. I know that perhaps there are 792 00:49:28,560 --> 00:49:31,799 Speaker 2: systems at play that have gotten me into this, but 793 00:49:31,840 --> 00:49:33,520 Speaker 2: I also know that I've been doing this since I 794 00:49:33,640 --> 00:49:35,600 Speaker 2: was a kid, and I also know I've been doing 795 00:49:35,640 --> 00:49:38,120 Speaker 2: it with things that I just collected out in nature, 796 00:49:38,320 --> 00:49:42,359 Speaker 2: like rocks and flowers and you know, insects, back when 797 00:49:42,360 --> 00:49:43,960 Speaker 2: I was a kid. So I know this is kind 798 00:49:44,000 --> 00:49:47,920 Speaker 2: of part of who I am, and so yeah, I 799 00:49:47,960 --> 00:49:51,239 Speaker 2: don't necessarily feel terrible about it, and I don't think 800 00:49:51,239 --> 00:49:53,920 Speaker 2: you should either. Just be conscious of the industry, just 801 00:49:53,920 --> 00:49:58,040 Speaker 2: be conscious of the space that this exists in, and 802 00:49:58,080 --> 00:50:00,480 Speaker 2: I'm gonna say, like the most corny thing but makes 803 00:50:00,480 --> 00:50:03,319 Speaker 2: smart decisions and you'll be all right. I hope that 804 00:50:03,400 --> 00:50:07,399 Speaker 2: you really enjoyed this episode. I hope that you learn 805 00:50:07,560 --> 00:50:09,960 Speaker 2: a lot. I hope that it's caused you to think 806 00:50:10,200 --> 00:50:13,440 Speaker 2: and have interesting conversations with your friends. Maybe you can 807 00:50:13,480 --> 00:50:16,960 Speaker 2: send this to a friend who themselves has a real 808 00:50:17,000 --> 00:50:20,360 Speaker 2: fascination with trinket collecting, has a big sunny angel collection, 809 00:50:20,719 --> 00:50:24,720 Speaker 2: has been really leaning into the lu bubu trend. Hopefully 810 00:50:24,760 --> 00:50:27,360 Speaker 2: they enjoy it as much as you do. Leave a 811 00:50:27,360 --> 00:50:29,799 Speaker 2: comment down below if you collect something and want to 812 00:50:29,840 --> 00:50:31,560 Speaker 2: know what people collect, even if it was something that 813 00:50:31,600 --> 00:50:34,239 Speaker 2: you collected as a child, just to see how far 814 00:50:34,520 --> 00:50:36,840 Speaker 2: this habit and this behavior goes. I think it's so 815 00:50:37,080 --> 00:50:39,880 Speaker 2: endlessly fascinating. Also, make sure that you are following me 816 00:50:39,920 --> 00:50:44,839 Speaker 2: on Instagram at that psychology podcast and follow along here 817 00:50:44,880 --> 00:50:47,279 Speaker 2: as well. If you're listening on Spotify, Apple Podcasts, make 818 00:50:47,320 --> 00:50:50,200 Speaker 2: sure you're subscribed so that you know when new episodes 819 00:50:50,600 --> 00:50:52,960 Speaker 2: are being released, and leave us a five star review 820 00:50:52,960 --> 00:50:55,000 Speaker 2: if you feel cool to do so. But with that 821 00:50:55,120 --> 00:50:57,480 Speaker 2: in mind, thank you again for joining us. Be safe, 822 00:50:57,520 --> 00:51:00,000 Speaker 2: be kind, be gentle to yourself, enjoy a small try 823 00:51:00,200 --> 00:51:02,440 Speaker 2: get every now and again, and we will talk very 824 00:51:02,520 --> 00:51:08,440 Speaker 2: very soon. M