When Beijing-based Pop Mart estimated its third-quarter revenue jumped 120 to 125 percent in an update released Wednesday, analysts said the performance of China’s top boxed toy retailer blind had “far exceeded market expectations”.

The brand, a rare consumer bright spot amid China’s continued spending sluggishness, has millions of young fans who may not make a lot of money but spend lavishly on small toys that offer them emotional value and social.

China’s Generation Z, around 280 million strong born between 1996 and 2012, is fueling a trend of “emotional consumption” that contrasts with a broader slowdown in the world’s second-largest economy.

Young Chinese consumers are increasingly willing to spend money on items that may seem “unnecessary” and expensive, but that bring them joy or improve their mood, some analysts say.

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Young Chinese are abandoning consumerism in favor of fulfilling experiences

Young Chinese are abandoning consumerism in favor of fulfilling experiences

“They have high emotional needs because they live and work at a fast pace and under high pressure,” said Mo Daiqing, a senior analyst at the Hangzhou-based China E-Commerce Research Center.