'IP Economy' reshapes retailing in China

Transcript

00:00Intellectual property, or IP, has become a new driving force in China's retail sector,

00:11with businesses in cities like Shenzhen racing to capitalize on trendy IPs.

00:16The manager of one popular toy store in the southern Chinese city said

00:20merchandise tied to the animated film Nobody is selling well this year.

00:25This IP was launched less than two months ago, and our overall sales have increased by about 20%.

00:34Currently, this IP is cooling down, and we are looking for new IP.

00:39I've bought a lot of things. They make me happy.

00:43One of the hottest places to buy IP merch is at the wildly popular toy store Pop Mart.

00:49But it's not the only place to shop.

00:51Malls, eager to cash in on the IP boom, have been erecting pop-up stores related to product launches,

00:58a sales model that's boosted business for companies across the board.

01:05The light dining sector is the primary beneficiary.

01:09We hope that they can stay here for the whole day, as many of them are from out of town.

01:14So it has also driven up demand in the accommodation sector, like hotels.

01:18In the first half of the year, the total retail sales of consumer goods in Shenzhen hit roughly

01:2370 billion U.S. dollars, a nearly 4% increase compared to the same period last year.

01:28New York City Road

01:48has been cielsing at 98 billion U.S. dollars in November 23.

01:53We are months of these.