Core Insights - The "Guzi Economy" has emerged as a new growth point in the consumption sector, particularly among the youth, with a focus on developing quality anime products and creating hubs for the two-dimensional culture [1][12] - The Beijing government has introduced an action plan to regulate and promote the "Guzi Economy," encouraging the creation of quality content and supporting domestic brands in expanding their markets [1][12] Youth Engagement in the "Guzi Economy" - Young people are actively participating in the "Guzi" culture, with events and markets attracting fans who buy, sell, and trade merchandise related to their favorite anime and games [2][4] - The popularity of "Guzi" has led to a vibrant community where fans connect over shared interests, with many using these interactions as a means of socializing and expressing their identities [6][13] Commercial Impact on Retail Spaces - Traditional shopping malls in Beijing are adapting to the "Guzi Economy" by renovating and introducing "Guzi" stores and markets, resulting in increased foot traffic and sales [8][11] - For instance, the Wangfujing Joy Shopping Center has seen its revenue double compared to the same period before renovations, with the "Guzi" section alone generating nearly 100 million yuan [11][12] Market Growth and Future Projections - The "Guzi Economy" market size in China is projected to reach 168.9 billion yuan in 2024, reflecting a 41% year-on-year growth, with expectations to surpass 200 billion yuan by 2025 [13][15] - The emergence of dedicated two-dimensional commercial spaces, such as the "Bailian ZX Chuangqu" in Shanghai, indicates a growing trend in the market, with significant increases in sales and customer engagement [13][15] Challenges and Recommendations for Retailers - Experts warn that while the "Guzi" stores are popular, retailers may face profitability challenges due to market saturation and the need for differentiation [15][16] - It is suggested that businesses focus on unique content and themes to meet diverse consumer demands and maintain engagement in a rapidly changing market [15][16]

Core Insights - The "Guzi" economy, driven by anime IPs, is reshaping offline consumption ecosystems, attracting young consumers and revitalizing commercial areas [1][2][3] - By 2029, the market size of China's "Guzi economy" is expected to exceed 300 billion yuan, becoming a new driver for regional consumption and urban renewal [1][2] - The appeal of "Guzi" products lies not in their functional attributes but in their emotional and cultural significance, resonating with the Z generation's desire for identity and community [2][3] Industry Trends - Recent consumer events have highlighted the growing trend of "Guzi" activities, with significant sales figures reported, such as over 300 million yuan in sales of related products from the animated film "Nezha 2" within a month [2] - Major cities are witnessing a surge in "Guzi" pop-up events and stores, with long queues and rapid sell-outs becoming commonplace [2][3] - The high engagement of cultural consumption is transforming the operational logic of offline shopping districts, with increased foot traffic reported in locations featuring "Guzi" stores [2][3] Market Dynamics - The "Guzi economy" is expanding into lower-tier cities, with events like anime conventions stimulating local consumption [3] - Brands are leveraging limited releases and collaborations to create a sense of novelty, enhancing customer engagement and extending their stay in stores [3] - Local governments are increasingly linking cultural resources with IPs to achieve dual goals of cultural revitalization and consumption transformation [3] Challenges and Future Directions - Some "Guzi" stores face challenges due to over-reliance on single IPs and lack of content updates, leading to a decline in foot traffic post-peak [4] - Issues such as scalping and counterfeit products are undermining consumer trust, indicating a need for sustainable development in the "Guzi economy" [4] - To unlock the long-term value of the "Guzi economy," there is a need for cities and businesses to shift from merely chasing trends to building platforms that enhance local cultural identity and provide immersive consumer experiences [4]

Group 1 - The core phenomenon of "breaking the wall" in the ACG culture indicates that the subculture of Cosplay has grown into a mainstream cultural trend with significant growth potential, evidenced by approximately 10 million Cosplay enthusiasts globally and a spending of $4.8 billion in 2023, averaging $480 per user annually [1] Group 2 - The Cosplay commercial ecosystem is driven by IP, with upstream content creation from ACG, midstream productization including costumes and accessories, and downstream consumer engagement primarily from the 18-30 age demographic, who are increasingly turning their hobby into a profession [2][3] Group 3 - The global market for Cosplay costumes is projected to grow from $4.75 billion in 2024 to $8.65 billion by 2029, with a production model that favors semi-customization due to the complexity of character designs [4][5] Group 4 - The market for beauty contact lenses and wigs, while smaller than costumes, shows a trend towards refined consumption, with significant user loyalty and a growing market share for domestic brands [6][7][8] Group 5 - Brands have opportunities to penetrate the Cosplay market through IP collaborations and by embedding themselves in cultural scenes, focusing on the expressive motivations of consumers rather than just product needs [10][11]

Core Viewpoint - The millet market is experiencing rapid growth driven by the popularity of ACG (Anime, Comic, and Games) culture and the expansion of its consumer base, with a projected growth rate of 30% year-on-year in 2024 [1] Industry Characteristics - The rapid rise of the millet economy is attributed to the matching of supply and demand, with the female Gen Z being the main consumer group, driven by emotional consumption needs and the rise of quality IPs [1] - The growth is supported by the emergence of quality supply, including the rise of domestic animation IPs and the concentration of millet stores in the market [1] Business Model - The millet economy's value chain is structured into three main segments: upstream IP and raw material supply, midstream product development, and downstream diversified sales [2] - Upstream, IP development is the "heart" of the millet economy, with strong bargaining power and short authorization periods [2] - Midstream participants are numerous but concentrated in specific segments, while downstream sales channels include online, offline, and second-hand markets, with a focus on core business districts [2] - The overall markup in the millet economy's value chain is high, with substantial profit margins across all segments [2] Future Development - The macroeconomic environment and supply-demand alignment are expected to drive significant growth in the millet economy, similar to trends observed in the Japanese market [3] - The current economic foundation and demographic structure in China provide fertile ground for the development of the millet economy, with increasing IP supply and expanding audience demographics [3] - There remains considerable potential for per capita consumption growth compared to developed countries [3]

Core Insights - The rise of the "Guzi economy" is driven by the increasing influence of the Z generation, who are becoming the main consumer force in the market [1][3] - Shanghai is identified as the city with the highest concentration of ACG (Anime, Comic, Game) culture in China, with numerous themed commercial districts attracting fans from across the country [1][3] - The market for "Guzi" (derivative products from ACG IPs) is projected to reach 168.9 billion yuan in 2024, marking a 40.63% increase from 2023, and is expected to exceed 300 billion yuan by 2029 [3][19] Group 1: Market Dynamics - The number of pan-ACG users in China is expected to reach 503 million by 2024, with the market size surpassing 100 billion yuan [3][19] - The global market for "Guzi" is growing at an annual rate of over 20%, with China being a key growth driver [3][19] - The "Guzi economy" is characterized by emotional connections and social currency among fans, with some rare items fetching prices hundreds of times their original value in the secondary market [3][11] Group 2: Cultural Impact - The "Guzi" phenomenon is seen as a form of emotional projection and attachment for fans, with items like badges and acrylic stands serving as tangible representations of their favorite IPs [11][12] - Events and activities centered around ACG culture are becoming new avenues for driving foot traffic and enhancing the vitality of traditional retail spaces [13][15] - The integration of ACG elements into physical retail experiences is reshaping consumer habits and creating immersive cultural consumption scenarios [30][34] Group 3: Industry Players - Companies like Lu Hua Film and GuGuGuGu are at the forefront of the "Guzi economy," with Lu Hua Film being involved in the distribution and promotion of popular anime films [4][19] - GuGuGuGu has secured over 100 popular IP licenses and developed more than 3,700 products, with 70% being self-developed [21][34] - The collaboration between domestic and international IPs is increasing, with Chinese products gaining traction in overseas markets [19][34]

Group 1 - The "谷子经济" (Guzi Economy) is emerging as a significant market, with a projected scale of 1,689 billion yuan in 2024, representing a 40.63% increase from 2023, and expected to exceed 3,000 billion yuan by 2029 [3][4] - The consumer base for the Guzi Economy is predominantly located in first-tier cities, with 57.62% of consumers earning over 10,000 yuan monthly, indicating a strong purchasing power [8] - The popularity of domestic IPs is rising, with over half of the top 20 selling IPs on platforms like Xianyu being Chinese, showcasing a shift towards local content [3][4] Group 2 - Young consumers engage in the Guzi Economy not only through purchasing but also by showcasing their collections, which serves as a social signal to connect with like-minded individuals [9][12] - The Guzi Economy is evolving from mere product transactions to a comprehensive entertainment experience centered around emotional connections with IPs [12] - The Guzi Economy is expanding into various sectors, including culture, commerce, and tourism, with over 3,239 dedicated Guzi stores across at least 39 cities in China [13][16] Group 3 - The success of the Guzi Economy is reflected in the financial performance of companies like Pop Mart, which reported a revenue of 13.04 billion yuan in 2024, a 106.9% year-on-year increase [13][16] - New cultural experiences such as themed restaurants, virtual concerts, and IP collaborations in tourist attractions are being developed, illustrating the broad impact of the Guzi Economy [16] - The Guzi Economy is not only revitalizing traditional retail spaces but also creating new consumer engagement opportunities through events and pop-up activities [16]

Core Insights - The rise of the "Guzi Economy" is reshaping consumption patterns among young people in China's competitive subculture market, with an expected market size of nearly 600 billion yuan in 2024, of which 28% (approximately 168.9 billion yuan) will be attributed to the Guzi Economy, projected to exceed 300 billion yuan by 2029, growing at an annual rate of 40% [1][3][6] Group 1: Market Dynamics - The Guzi Economy is driven by the success of domestic IPs like "Genshin Impact" and "Nezha: Birth of the Demon Child," which integrate traditional Chinese cultural elements, fostering a deep emotional connection between consumers and virtual characters, leading them to pay premium prices for related merchandise [3][5] - The business model behind the Guzi Economy is characterized by low production costs and high markups, with items like anime badges costing only 2 to 5 yuan to produce but selling for tens or even thousands of yuan, as they serve as emotional carriers for fans [5][6] - The unique consumption ecosystem within the subculture encourages fans to purchase merchandise as a form of support for their favorite IPs, creating a psychological link where increased spending is equated with greater support [5][6] Group 2: Cultural and Economic Implications - The Guzi Economy reflects a deeper industrial logic, supported by Japan's successful "content-merchandise-tourism" model, exemplified by "Demon Slayer," which has generated over 1 trillion yen in merchandise sales [6][7] - The rise of domestic IPs has led to a resonance between the Guzi Economy and the cultural industry, with works like "Chang'an 30,000 Li" visually expressing traditional culture and expanding consumption scenarios into emerging formats like VR exhibitions and the metaverse [7][9] Group 3: Entrepreneurial Opportunities - Entrepreneurs have opportunities in this billion-yuan market, especially with policy support that encourages the transformation of traditional shopping centers into "subculture landmarks," offering up to 30% rent subsidies [9][10] - In lower-tier cities, where per capita annual spending on Guzi products is significantly lower than in first-tier cities (800 yuan vs. less than 200 yuan), entrepreneurs can tap into this potential by opening small stores near schools or utilizing online platforms for pre-sales [9][10] Group 4: Future Trends - The essence of the Guzi Economy lies in infusing emotional value into products, with future developments potentially including AR interactive figures, NFT digital merchandise, and virtual exhibitions, all aimed at fulfilling the human need for emotional connection [12]

Core Insights - The revival of the once-declining Diwang Plaza in Guangzhou is attributed to the emergence of the "Guzi" market, which focuses on selling merchandise related to the ACG (Anime, Comic, and Game) culture, particularly appealing to the younger demographic [6][11][12] - The "Guzi" economy is experiencing significant growth, with projections indicating a market size of 1.689 billion yuan in 2024, reflecting a 40.63% increase from 2023, and expected to surpass 3 trillion yuan by 2029 [13] - Despite the initial success of the Guzi market, concerns about sustainability and market saturation are emerging, as many vendors rely on selling second-hand items and face challenges in maintaining customer interest [67][70][77] Group 1: Market Dynamics - The Guzi market has transformed Diwang Plaza from a once-popular shopping destination into a vibrant hub for ACG enthusiasts, with over 100 stalls operating during peak times [18][11] - The market features a diverse range of vendors, including older individuals and students, creating a community atmosphere where shared interests in anime and related merchandise foster social interactions [8][9][40] - The pricing strategy in the Guzi market is notably competitive, with stall fees ranging from 13 yuan to 30 yuan per day, making it accessible for many vendors [20][22] Group 2: Consumer Behavior - The demographic of the Guzi market has shifted, with a significant increase in female consumers, indicating a broader appeal beyond traditional male collectors [60] - Consumers are increasingly seeking affordable merchandise, leading to a preference for smaller, less expensive items over traditional collectibles, which has resulted in a decline in sales for higher-priced goods [61][64] - The market's atmosphere encourages price comparison and negotiation, with customers often using their phones to check prices online, reflecting a savvy consumer base [23][69] Group 3: Challenges and Concerns - The initial excitement surrounding the Guzi market is waning, with vendors reporting decreased sales compared to the previous year, raising questions about the long-term viability of the market [68][69] - The increasing homogeneity of products offered by vendors is contributing to a decline in consumer interest, as many stalls feature similar items week after week [70] - The commercial space for vendors is becoming more limited, with reports of increased competition for stalls and the potential for larger retailers to dominate the market, threatening the grassroots nature of the Guzi economy [76][77]

Core Insights - The article highlights the growing significance of the ACG (Anime, Comic, and Game) culture in the retail sector, particularly during the recent May Day holiday, with a notable increase in offline events and consumer engagement [1][2][8]. Group 1: Event Highlights - During the May Day holiday, a total of 158 ACG-related offline events were held across six major cities in China, with Shanghai hosting over 60 events [1][7]. - Popular events included themed pop-up stores and exhibitions, such as the "Detective Conan 30th Anniversary Exhibition," which generated sales of 3.05 million yuan over five days [8]. - The Dazhong City shopping centers reported a total sales figure of 160 million yuan during the holiday, with over 2 million visitors [8]. Group 2: Consumer Behavior - Young consumers are increasingly drawn to ACG culture, viewing purchases as tickets to another world rather than mere products [3][25]. - Long queues and high demand for limited edition items were observed, with some fans waiting over five hours to purchase exclusive merchandise [5][8]. - The phenomenon of "eating谷" (consuming ACG products) has become a social activity, with many fans sharing experiences and forming communities around their interests [24][25]. Group 3: Market Growth - The ACG market in China is projected to grow significantly, with estimates suggesting a market size of 168.9 billion yuan by 2024, reflecting a 40.63% increase from 2023 [20]. - Major brands like 卡游 (Kawoo) have reported substantial revenue growth, with 2022 revenues exceeding 10 billion yuan and a net profit of 4.466 billion yuan [20][22]. - The number of ACG-related stores in major shopping centers has surged, with Dazhong City reporting over 311 ACG stores and total sales surpassing 1.11 billion yuan [18]. Group 4: Industry Trends - The ACG retail sector is evolving towards scale and industrialization, with several leading brands emerging, supported by strong IP resources and product channels [22]. - The offline ACG market is expected to enter a rapid growth phase starting in 2025, with more diverse business models developing [23]. - The unique experience of purchasing and unboxing ACG products in-store is a key driver of consumer engagement, differentiating it from online shopping [23][24].

Core Viewpoint - The article highlights the booming demand for "Guzis" (figurines and merchandise related to anime and gaming) among young people in China, particularly during events like the May Day holiday, indicating a significant cultural and commercial shift towards the "二次元" (two-dimensional) subculture [4][11]. Group 1: Market Trends - During the May Day holiday, over 158 offline events related to the 二次元 culture were held across six major cities in China, with Shanghai hosting more than 60 events [4][6]. - The 二次元 commercial sector has become a crucial part of offline retail, with dedicated spaces in major cities like Shanghai, Beijing, and Chengdu [6][12]. - The market for 二次元 products is projected to grow significantly, with estimates suggesting it will reach 1.689 trillion yuan in 2024, a 40.63% increase from 2023 [17][19]. Group 2: Consumer Behavior - Young consumers are not merely purchasing products but are seeking experiences and a sense of belonging within the 二次元 community [20]. - Events like the "Detective Conan 30th Anniversary Exhibition" generated impressive sales, with a total of 3.05 million yuan over five days, showcasing the financial potential of these cultural events [8][11]. - The popularity of "blind box" purchases, where consumers buy without knowing the specific item, enhances the excitement and community engagement among fans [19][20]. Group 3: Business Opportunities - Companies like 卡游 (Kawoo) have seen substantial revenue growth, with reported earnings of 22.98 billion yuan in 2021, 41.31 billion yuan in 2022, and 19.52 billion yuan in the first nine months of 2023, indicating a thriving market for 二次元 merchandise [17][19]. - The emergence of various 二次元 brands and stores, such as 潮玩星球 (Chao Wan Xing Qiu) and 三月兽 (San Yue Shou), reflects the industry's shift towards scale and industrialization [19]. - Shopping centers are increasingly transforming into 二次元 hubs, with locations like 天府红 in Chengdu becoming popular destinations for young consumers [14][15].