Over the past year, you might have wandered into a mall adorned with vibrant anime posters, stumbled upon stores packed with game figurines, or spotted products co-branded with virtual-world characters. At the heart of this growing phenomenon lies the buzzworthy "guzi economy", which is transforming retail and captivating a new generation of consumers.

The emerging buzzword "guzi", or goods, refers to merchandise created from copyrighted cultural works in domains such as anime, comic books, games and novels. The derivative products usually include posters, badges, cards, keychains, figurines, plush toys and more, and the act of purchasing guzi is known as "eating guzi" (chigu).

According to data from consultancy firm iiMedia Research, the market size of China's guzi economy soared to 168.9 billion yuan ($23.14 billion) in 2024 from 120.1 billion yuan in 2023, while the growth momentum is expected to continue, with a projected market size of over 308.9 billion yuan by 2029.

The guzi craze has extended offline, reshaping traditional retail landscapes. The involvement of guzi stores has become a popular strategy for traditional shopping malls to inject new momentum into offline sales, attract younger consumers and revitalizing their operations.

As the country's first commercial complex especially themed around ACGN culture, Shanghai's Bailian ZX creative center now witnesses over 90 percent of its memberships from Generation Z (those born between the mid-1990s and early 2000s) buyers.

Dubbed by ACGN fans as "China's Akihabara", a center of Japanese manga and anime culture, the mall has become not only a landmark for anime fans in Shanghai, but also "a gathering hub" for ACGN enthusiasts across the country, said Rebecca Chen, a 19-year-old guzi buyer.

"It has everything an ACGN culture fan could want, and also provides a platform for people of similar interests to bond and share," Chen said.

With an area of 10,000 square meters, Bailian ZX only houses over 40 stores. While few in number, the stores are predominantly focused on ACGN culture, offering a wide range of merchandise created from bountiful intellectual properties that ACGN culture encompasses.