Core Insights - The article discusses the booming second-hand trading market for anime and gaming merchandise, highlighting the volatility in prices and the impulsive buying behavior of consumers in the "二次元" (two-dimensional) culture [1][5][12] - It emphasizes the dual nature of consumers as both buyers and sellers, often leading to a cycle of impulsive purchases followed by attempts to recoup costs through resale [31][46] Group 1: Market Dynamics - The second-hand market for anime merchandise has seen significant fluctuations, with items like character badges experiencing price drops from thousands to hundreds of yuan [1][5] - The rise of IP (intellectual property) economy has led to an increase in merchandise availability, with consumers often engaging in impulsive buying, resulting in a vibrant second-hand trading environment [5][12] - Platforms like Xianyu (闲鱼) and Qidao (千岛) have become central to this trading ecosystem, with Xianyu reporting a user base of 105 million and a 75% year-on-year increase in transaction volume [50][49] Group 2: Consumer Behavior - Consumers often engage in "blind box" purchases, where they buy merchandise without knowing the specific items they will receive, leading to a gambling-like mentality [32][37] - The article notes that many sellers are also significant buyers, with profits from sales often reinvested into new merchandise, perpetuating a cycle of consumption [31][46] - The community aspect of platforms like Xiaohongshu (小红书) plays a crucial role in influencing purchasing decisions, with users often showcasing their collections and purchases [54][52] Group 3: Challenges and Risks - The second-hand market faces challenges such as counterfeit products, high uncertainty due to the involvement of minors, and complex unwritten rules within the community [14][56] - The article highlights the need for better regulation and service standards on trading platforms to address these issues and ensure sustainable market growth [56] - Concerns are raised about the long-term viability of the second-hand market, which heavily relies on the popularity of anime IPs, suggesting that a lack of new content could lead to market decline [56]