Identifying Emerging Consumer Sector Hotspots: An Empirical Study of Pop Mart Using Financial Econometric Models

The rapidly evolving consumer economy in China, characterized by shortened product life cycles, shifting consumer preferences, and the growing popularity of intellectual property-based emotional consumption, has led to a significant transformation in investor behavior. This paper analyzes daily data from 2020 to 2025 using Generalized Autoregressive Conditional Heteroskedasticity (GARCH) (1,1) and Granger Causality tests to examine the dynamic interaction between investor sentiment and stock returns. The results reveal significant volatility persistence and a bidirectional relationship between sentiment and returns. Investor attention can predict short-term price movements, while rising prices also increase public interest. These findings suggest the existence of a feedback loop between sentiment and price. The study contributes to the growing literature on attention-based asset pricing, showing how behavioral indicators can be integrated into financial models to analyze sentiment-sensitive assets.