How Does Jellycat Achieve Business Model Innovation Amid the Emotional Economy Wave?
DOI:
https://doi.org/10.54097/ctj41512Keywords:
Emotional Economy, Emotional Alchemy, Business Model Innovation, User Co-creationAbstract
Currently, the consumer market is undergoing a profound transformation from functional satisfaction to emotional fulfillment, and the emotional economy has become a key growth engine. Against this backdrop, the rise of the British plush toy brand Jellycat holds typical research value. This study aims to adopt an exploratory case study approach to analyze how Jellycat achieves business model innovation through the application of "emotional alchemy"—a process of transforming commodities into carriers of high emotional premium through systematic operations. The research finds that Jellycat's business model has undergone three stages of evolution: from product-driven to emotional value mining-oriented, and ultimately to an emotional economy ecosystem-oriented model. Its core lies in converting intangible emotional needs into sustainable commercial value, constructing a strong brand moat through emotional projection in product design, meaning transformation in marketing narratives, and community strengthening through user co-creation.
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