The guzi merchandise market in China is experiencing significant growth, driven by young consumers’ emotional spending amidst high unemployment rates. Projected to reach 110.1 billion yuan by 2026, the industry has expanded rapidly, with popular retail chains reporting substantial revenue increases. This trend reflects a shift in consumer behavior, as figurines and soft toys become sources of comfort and potential investments for youth facing economic uncertainty.

Amidst a significant economic slowdown impacting job opportunities in China, there is an unexpected surge in the consumption of collectible merchandise referred to as “guzi,” a term denoting products based on animated characters. Young consumers are increasingly purchasing figurines and soft toys as a form of emotional relief, leading to a remarkable growth in this sector. The guzi industry is projected to reach a market value of 110.1 billion yuan by 2026, nearly doubling from 60 billion yuan recorded in 2023. Shops specializing in these products have proliferated, generating substantial daily revenues, with some notable items commanding high resale values.

The popularity of guzi is especially pronounced among youth, who perceive such purchases as a means of coping with pressures from high unemployment rates and job market uncertainties. For instance, Liu Zhengmei, a 20-year-old undergraduate, expressed that her collection brings her and her roommates spiritual rejuvenation during stressful periods. Concurrently, some young individuals view collectible items as investment opportunities, as evidenced by Mr. Huang Yan’s experience with buying and reselling rare figurines. Additionally, toy retail chains like Pop Mart have reported significant revenue growth, buoying the overall retail landscape in an otherwise challenging economic environment.

The guzi merchandise market, which includes items inspired by popular films and games, has emerged as a bright spot in China’s flagging retail sector. As the economy faces headwinds due to low consumer spending and increased youth unemployment, young people have turned to emotional spending habits, particularly on collectible toys, to enhance their well-being amidst societal pressures. The rapid expansion of the guzi industry not only reflects shifting consumer behaviors but also highlights the opportunities for niche markets within an economically strained context. With the youth unemployment rate reaching a historic high of 18.8% this past summer, many young individuals are seeking solace and distraction through the acquisition of these collectibles, viewing them both as emotional support and potential investments.

In conclusion, the guzi industry stands out as a beacon of resilience amidst China’s economic challenges, driven by young consumers seeking emotional fulfillment through collectible merchandise. The projected growth of this market, alongside the significant revenue increases reported by major toy retailers, underscores a transformative shift in consumer behavior. The interplay between emotional spending and investment opportunities illustrates the complex motivations behind this rising trend among youth, particularly in a climate of uncertainty. As young people continue to navigate a difficult job market, the guzi phenomenon reflects broader societal shifts in the quest for comfort and optimism.

Original Source: vietnamnews.vn

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