Young buyers
Young consumers born in the 1990s and 2000s are becoming a driving force behind the consumption of museum-themed cultural and creative products, data from the online travel platform Mafengwo showed.
They have grown up with the internet and desire items that are "individual" and provide them with a special experience or knowledge. This demand has driven the continuous upgrade of such products, the platform said.
As a result, cultural and creative products have evolved from simple items like postcards and badges depicting museums. They now include creatively designed relic refrigerator magnets, and archaeology blind boxes, which have an element of surprise and mystery for buyers.
These cultural and creative products are now a main attraction for young people visiting museums, according to the Mafengwo report.
The fusion of museum culture and creativity not only promotes a diverse range of products, but also shows the immense market potential for related industries, experts said.
The market size of China's cultural and creative products reached $16.38 billion in 2023, an increase of 13.09 percent year-on-year, according to an industry report by the Beijing-based consultancy, the Intelligence Research Group.
There are currently about 35,300 cultural and creative-related companies in the country, data from business registrations tracker Qichacha showed. In 2023, there were 336 new registrations, representing a year-on-year growth of nearly 10 percent.
A relatively complete industry chain for cultural and creative products has already taken shape in China, the Mob research report said. This chain is extensive, covering various related industries from creative design to product manufacturing, sales, and consumption, it pointed out.
In 2021, Chinese authorities rolled out a set of measures to encourage the development of creative cultural products inspired by museums, libraries, memorial halls, and other cultural sites.
Such products should help people better understand and boost confidence in Chinese culture, according to a document jointly issued by eight departments including the Ministry of Culture and Tourism, the National Development and Reform Commission, and the National Cultural Heritage Administration.
