A spending frenzy born from love of anime characters and pop idols has quietly become a force in Japan's economy. The central bank is taking note, but the same passion that fuels this market could also break it.
From Fandom to Mainstream
What changed? Demographics. More people are skipping children, leaving extra income and free time.
Money that used to go toward cars or alcohol now flows into merchandise for favorite idols and characters. "Consumption is increasingly being organized around a simple principle: people want to spend money on the things they love," said Kohei Okazaki, a chief market economist at Nomura Securities.
The trend has spread to older consumers too. Okazaki noted that "what was once largely viewed as a youth culture has increasingly spread to older consumers as well."
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Companies Cash In
The official merchandise side of fandom has existed for years. Now the unofficial side is exploding with fan-made ads, fan-organized events, and new services that support those behaviors, according to Nanami Semachi, a former fan who now advises companies. She charges ¥20,000 for individual courses and ¥550,000 for corporate consultations.
At the Oshikatsu Expo in Tokyo last month, 240 suppliers exhibited - up from about 20 when the trade show started two years ago.
One exhibitor, Katani Co., a 127-year-old gold-leaf manufacturer, now sells gold-plated shrines for displaying a fan idol's photo. Prices range from ¥500,000 to ¥600,000 for the big version, with a smaller one at ¥100,000. Oshikatsu sales for Katani reached ¥80 million. "We wanted to put something more glamorous into the market," said sales representative Yasuaki Higashikawa.
Other firms are finding creative angles. Pinole Co., a fragrance company, makes perfumes customized for fans. Director Kei Yamasaki explained: "People want to feel connected to their idol by wearing the scent." The company is also developing an AI-powered perfume app.
"We've been developing tools like this to make it easier for people involved in fan activities. "It's a way to bring that presence into their personal space"," Yamasaki said.
SDRS Corp. launched a new vending machine for oshikatsu fans, offering a mix of capsule-toy surprise, larger merchandise, photo booths, and digital mini-games where fans can virtually meet their idols.
Risks Ahead
The market is not without danger. Semachi warned: "If the industry simply keeps trying to raise spending per customer indefinitely, it risks destroying itself." Semachi also expressed concern that fan devotion spending could be seen as a harmful habit or cause of dependence, especially for younger fans.
What to Watch
The Bank of Japan has already flagged the spending trend among young people.
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