In the bustling streets of Shanghai, a new economic phenomenon is capturing the hearts and wallets of China’s youth. The ‘guzi economy,’ rooted in anime, comics, and gaming (ACG) culture, is rapidly becoming a significant part of everyday life.
The term ‘guzi,’ a homonym for the English word ‘goods,’ refers to badges, acrylic figure stands, cards, and other merchandise related to popular intellectual properties (IPs). This burgeoning market is driven by passionate fans eager to collect and showcase items connected to their favorite characters and stories.
According to a report by data analysis provider iiMedia Research, China’s ‘guzi economy’ market reached 168.9 billion yuan (approximately $23.5 billion) in 2024, marking a staggering 40.63 percent increase year on year. Projections indicate this market will exceed 300 billion yuan by 2029.
The explosive growth of the guzi economy is opening new doors for creators, brands, and even traditional shopping malls. Retailers are embracing this trend by hosting pop-up shops, exhibitions, and events centered around ACG culture, attracting throngs of young consumers eager to immerse themselves in these experiences.
“It’s more than just buying products; it’s about expressing our identities and connecting with others who share our interests,” says Li Wei, a 19-year-old university student and avid collector in Shanghai. “The guzi economy gives us a way to be part of a community.”
This trend reflects a broader shift in consumer behavior among China’s younger generations, who are increasingly seeking personalized, experience-driven consumption. As the guzi economy continues to flourish, it is poised to have a lasting impact on the retail landscape and cultural industries in the Chinese mainland.
