Core Viewpoint - The gift economy in Yiwu, known as the "world supermarket," is thriving, especially during various festivals, with a strong supply chain and industrial cluster supporting its global sales [1] Group 1: Industry Overview - Yiwu has established itself as a significant supplier of festive products, providing a wide range of items from exquisite ornaments to romantic dolls [1] - The city's efficient supply chain and robust industrial cluster contribute to its reputation as a key player in the global gift economy [1] Group 2: Market Dynamics - The growth of the gift economy in Yiwu is not limited to the Qixi Festival but spans numerous holidays throughout the year, indicating a diverse market demand [1] - Dynamic promotional materials highlight the vibrancy and reach of Yiwu's gift economy, showcasing its role in enhancing festive atmospheres worldwide [1]

Group 1 - The luxury goods market in China is experiencing a rebound, particularly around the Qixi Festival, which is referred to as "Chinese Valentine's Day," with luxury items becoming a popular choice for gifting [1][3] - According to iMedia Consulting, the types of gifts for the 2024 Qixi Festival are expected to be dominated by clothing, shoes, and bags, continuing the trend from the previous year [1] - E-commerce platforms have reported a significant increase in luxury goods sales, with brands like MK, COACH, and Burberry seeing over 70% year-on-year growth in sales during the two weeks leading up to Qixi [1] Group 2 - There is a growing emphasis on cost-effectiveness among consumers, with many opting for discounts and special offers rather than purchasing at full price [1][3] - The overall gift economy in China is on the rise, with the market size projected to reach 1.3777 trillion yuan in 2024 and 1.6197 trillion yuan by 2027, indicating a robust growth trend [3] - Experts suggest that the shift in consumer behavior reflects a move from self-indulgent spending to gifting, where value, emotional significance, and practicality are prioritized over mere brand prestige [3]

Group 1 - The luxury goods market in China is experiencing a rebound, particularly around the Qixi Festival, which is referred to as "Chinese Valentine's Day," with luxury items becoming a popular choice for gifting [1] - According to iMedia Consulting, the types of gifts for the Qixi Festival in 2024 are expected to be dominated by clothing, shoes, and bags, continuing the trend from the previous year [1] - E-commerce platforms have reported a significant increase in luxury goods sales, with brands like MK, COACH, and Burberry seeing over 70% year-on-year growth in sales during the two weeks leading up to Qixi [1] Group 2 - The focus on high cost-performance and discounts has become a common consensus among consumers, as evidenced by a consumer's decision to purchase a luxury bag through an e-commerce platform at a significant discount [1] - E-commerce platforms are actively promoting discounted luxury goods, with Vipshop launching multiple sales events ahead of Qixi, offering luxury items at historically low prices [1] - The gift economy in China has been growing steadily, with the market size projected to reach 1.3777 trillion yuan in 2024 and 1.6197 trillion yuan by 2027, reflecting the increasing importance of holiday celebrations and emotional expression among consumers [2] Group 3 - The shift in consumer behavior indicates a move from self-indulgent spending to gifting, with younger consumers prioritizing value, emotional significance, and cost-effectiveness over simply purchasing expensive items [2]

Core Viewpoint - The rise of "material socializing" among young fans at live events is transforming how they connect and express their passions through the exchange of self-made merchandise [1][8]. Group 1: Concept of Material - "Material" originally referred to official promotional items but has evolved to include self-made merchandise exchanged among fans [2][8]. - The concept encompasses both physical items and digital content, facilitating interactions and emotional connections among fans [1][6]. Group 2: Fan Engagement and Creation - Fans create various types of materials, such as postcards and keychains, to express their love for specific characters or events [3][9]. - The process of creating materials is seen as a form of emotional expression and a way to build community among fans [6][11]. Group 3: Social Interaction through Material Exchange - Material exchange serves as a unique social opportunity, allowing fans to identify shared interests and form connections [7][8]. - Many fans report that these exchanges lead to lasting friendships and deeper engagement within their communities [7][8]. Group 4: Cultural and Economic Implications - The practice of material exchange reflects a "gift economy," where emotional reciprocity is valued over direct economic transactions [8][9]. - The visibility of material exchanges has increased with the rise of public events, enhancing community bonding among fans [8][9]. Group 5: Challenges and Limitations - While material exchanges foster connections, they can also create barriers if participants do not actively engage [8][9]. - The evolution of material exchange practices has led to stricter identity recognition mechanisms within fan communities [8][9].