#Japan #Tokyo #IP collaborations #Mintel Japan #Phygital Era

The Rise of the 'Phygital' Era in IP Collaborations

The concept of 'phygital,' which marries physical and digital experiences, is gaining traction in the world of intellectual property (IP) collaborations. As per a report released by Mintel Japan, understanding current consumer behaviors surrounding IP is crucial for businesses aiming to thrive in this evolving market landscape.

Shifting Consumer Behavior in IP Collaborations

Mintel Japan's recent research highlights that the global licensing market is expected to reach approximately $360 billion, revealing a notable shift in consumer purchasing behavior towards IP collaborations. Traditionally, fans have driven purchases based solely on affection for their favorite characters. However, the report indicates that modern buyers are prioritizing quality, design, and functionality over mere fandom. This paradigm shift illustrates a trend among consumers who are increasingly interested in the novelty and uniqueness of combinations, particularly those that involve unexpected collaborations across different sectors.

The U.S. Perspective: A Demand for Innovative Reimaginings

In the United States, particularly among Generation Z and Millennials, over 50% express a desire to see classic characters rejuvenated through contemporary technology and narratives. This underscores a growing appetite for the revival of past IPs through modern storytelling methods and technological advancements. As global markets navigate economic uncertainties, American consumers continue to push boundaries, seeking fresh takes on beloved IP.

Japan's Growing Market and Government Initiatives

Japan’s domestic content market remains steady, valued at around ¥12 trillion. The Japanese government is keen to amplify this through its