Core Insights - The article discusses the significant decline in the market prices of popular IP-related merchandise, particularly from titles like "Blue Lock," "Haikyuu!!," and "Jujutsu Kaisen," which were once dominant in both online and offline sales [1][51] - The current sentiment in the market reflects a drastic shift, with terms like "crash," "plummet," and "drop" frequently appearing in discussions about these IPs, indicating a bearish trend similar to stock market discussions [1][51] Market Trends - The prices of previously high-demand items, such as a sticker of "Gojo Satoru" that once sold for 5000 yuan, have now dropped to less than one-tenth of that value, showcasing the volatility in the market [2] - The second-hand market is closely tied to the primary market, with many consumers experiencing both the opportunities and risks associated with investing in these collectibles [9][51] Consumer Behavior - Consumers initially purchase these items out of passion, but the strong correlation between the IP merchandise and the second-hand market has led to a realization of the investment risks involved [9] - The Japanese market has established a culture around limited edition items and blind box purchases, which creates a sense of urgency and scarcity, further driving consumer spending [17][19] Pricing Dynamics - The article highlights how the pricing of merchandise is influenced by factors such as rarity, popularity of the characters, and the method of acquisition, with limited releases often commanding higher prices in the second-hand market [12][38] - For example, the price of a "Haikyuu!!" acrylic badge has seen significant fluctuations, with some items reaching prices as high as 55555 yen due to their limited availability and popularity [38] Market Volatility - The second-hand market for these collectibles is characterized by extreme price volatility, where the value can dramatically increase or decrease based on supply and demand dynamics [51] - The emergence of "sea view" collectibles, which are items that have inflated prices due to their rarity and desirability, illustrates the speculative nature of the market [27][38] Conclusion - The article concludes that the current trends in the IP merchandise market reflect a broader shift in consumer sentiment and market dynamics, with younger consumers increasingly vocal about price declines on social media [51]