What is “Guzi economy” and why is it surging?

What is “Guzi economy” and why is it surging?

“Guzi” or “goods” economy (谷子经济) is now one of the hottest markets in China, especially among young consumers. “Guzi” is a transliteration of the Japanese word “グッズ” (lit. goods), which is, in turn, a “wasei-eigo” (和製英語, Japanese-made English) and actually means merch, collectibles or memorabilia. The “guzi economy” that is booming now, therefore, mostly involves designer toys, action figures, IP merch such as pin badges, trading cards and IP co…