Core Insights - The report highlights the rise of domestic cultural IPs and the structural transformation of the "Guzi" (goods) market, driven by national style elements and domestic game IPs, with young women and post-2005 consumers becoming the main consumer groups [1][2][3] Market Overview - The "Guzi" market, which refers to lightweight merchandise derived from anime, games, and other media, has seen a significant shift from Japanese IPs to domestic IPs, with domestic transaction volumes surpassing Japanese ones for the first time in Q1 2025, reflecting a 105% year-on-year increase [1][2][10] - The overall market is experiencing rapid growth, with the first quarter of 2025 achieving historical peak transaction volumes [1][12] IP Performance - Domestic game IPs have emerged as the biggest winners, with titles like "Love and Deep Space" and "Identity V" topping sales charts, outperforming traditional Japanese IPs [2][16] - The sales of national style "Guzi" surged by 167% year-on-year in Q1 2025, with the "Nezha" IP seeing a staggering 2346.2% increase due to the release of the movie "Nezha 2" [2][19] Consumer Demographics - The proportion of female consumers in the "Guzi" market increased from 67% in 2023 to 78% in Q1 2025, indicating a strong female dominance in purchasing [3][26] - The post-2005 generation is the fastest-growing demographic, with these young consumers averaging 2.9 purchases per month, spending over 100 yuan per transaction [3][31] Product Categories - "Baji" (badges) continue to dominate sales, accounting for over 60% of total "Guzi" sales, while paper products like postcards and colored paper have seen a notable rise, making up 19% of transactions in Q1 2025 [2][22] - The demand for products that combine utility and emotional value is evident, as consumers seek items that serve both practical and sentimental purposes [2][3]

Core Insights - The "Guzi Economy" is projected to exceed 240 billion yuan by 2025 and 300 billion yuan by 2027, driven by a mature manufacturing chain, deep digital infrastructure, and the rise of young consumers [4][17]. Market Overview - The Guzi Economy is transitioning from subcultural circles to the mainstream market, with a significant increase in interest and consumption among diverse user demographics [11][12]. - As of August 2025, the number of active users interested in Guzi reached 3.0174 million, with 1.2358 million being active consumers [18][20]. User Demographics - The core user base of the Guzi Economy is predominantly young, with 57.5% of users under 24 years old and a notable female user base making up 54.1% of interest users [5][20]. - The Guzi Economy is characterized by a blend of traditional "二次元" (2D) enthusiasts and a new generation of consumers who engage actively in both online and offline spaces [22]. Economic Drivers - Young consumers are motivated by "self-pleasure" and "collecting," which influence their purchasing decisions, leading to a growing market for emotional and collectible products [23][25]. - The "pain culture" has emerged as a significant trend, reflecting a strong desire for identity expression and personalization among young consumers [25][29]. Industry Development - The Guzi Economy has established a closed-loop model encompassing IP incubation, product design, and sales, which enhances the popularity of associated IPs [15][6]. - The rise of domestic IPs is notable, with a 55.1% interest in domestic content compared to 26.7% for imported IPs as of August 2025 [32][34]. Marketing Insights - Collaborations with established Guzi IPs have become a standard marketing strategy for brands targeting younger demographics, providing benefits such as audience engagement and brand rejuvenation [50][52]. - Successful marketing models include creating immersive consumer experiences and leveraging emotional connections through IP collaborations [60][66].

Core Insights - The report from Xianyu platform indicates a significant growth in the millet market, with a 105% increase in annual transaction volume in 2024, continuing into the first quarter of 2025 with record-breaking figures [1] - Domestic IP millet has taken the lead in this growth, surpassing Japanese IP millet by 1.2 times, reflecting a strong recognition of local culture among consumers and the rise of domestic cultural industries such as animation and gaming [1] Market Trends - The sales of Guofeng millet on Xianyu platform surged dramatically, with a 167% increase in the first quarter [3] - The Nezha IP millet emerged as a hot-selling item, with sales skyrocketing by 2346.2% [3] - The sales of millet related to the domestic animation "Fei Ren Zai" also showed impressive growth, with a 1003.5% increase [3] Consumer Demographics - The consumer profile in the millet market shows a notable shift, with female consumers dominating the market, increasing from 67% in 2023 to 78% in 2025 [3] - Young consumers, particularly those born after 2005, are becoming a significant force in millet consumption, with high purchasing frequency on Xianyu, averaging 2.9 purchases per month and spending over 100 yuan per transaction [3] - The average number of monthly consumers has seen a remarkable year-on-year growth of 97.2% [3]