Core Insights - The Chinese digital cultural IP peripheral consumption market is experiencing explosive growth, with significant participation from younger demographics [1][3][5] - The sales of licensed peripheral products related to the "Nezha" series have reached hundreds of billions, with projections suggesting that the IP could eventually drive over a trillion yuan in derivative consumption [1][3] - In the first quarter of this year, the transaction volume of Chinese IP peripherals surpassed that of Japanese IP peripherals for the first time, indicating a shift in market dynamics [3] Group 1 - The popularity of various anime and gaming conventions in Hangzhou has led to increased sales of related merchandise, with attendees actively purchasing and trading products [1][3] - The "谷子经济" (peripheral economy) is thriving, with the market expected to reach 168.9 billion yuan in 2024, reflecting a growth rate of over 40% year-on-year [5] - The demand for personalized and interactive products is driving innovation in the industry, with manufacturers rapidly iterating on designs and features to meet consumer preferences [3][5] Group 2 - The gaming IP peripheral sales have consistently dominated the market, accounting for a significant portion of the top-selling IPs over the past two years [3] - The trend of collecting and trading peripheral products has become a new form of emotional expression and social interaction among youth, leading to a more mature market [5] - The industry is increasingly focusing on original content protection mechanisms as the market matures, ensuring the sustainability of growth [5]

Core Insights - The article emphasizes the rapid growth of the "Guzi economy," a derivative of the ACG (Animation, Comic, and Game) culture, which is becoming a new engine for economic growth in China, particularly in cities like Zhengzhou [1][2]. Industry Overview - The Guzi economy, which refers to merchandise related to IP (Intellectual Property) from the ACG culture, has seen a significant market expansion, with the market size projected to grow from 120.1 billion yuan in 2023 to 168.9 billion yuan in 2024, and potentially reaching 308.9 billion yuan by 2029 [1]. - The market was historically dominated by Japanese IPs, but the rise of domestic IPs like "Genshin Impact" and "Mo Dao Zu Shi" has shifted the market dynamics, increasing the share of domestic products [6][8]. Market Dynamics - The resurgence of the Guzi economy is linked to the social needs of ACG enthusiasts, leading to the establishment of dedicated stores and commercial spaces that cater to this demographic [3][9]. - The introduction of new product categories and collaborations with well-known brands has diversified the Guzi offerings, making them more integrated into everyday life [10]. Consumer Behavior - The primary consumers of Guzi products are fans of content-driven IPs, who view these products as emotional and social symbols, enhancing their identity and community belonging [9]. - The trend indicates a growing willingness among consumers to purchase practical items that also serve as expressions of their fandom, such as headphones and passport holders [10].