Millennials drive fan economy growth, these peripheral products are popular in India

India’s No.1 online fashion retailer The Souled Store, known for selling movie, cartoon and sports merchandise ( Marvel, DC Comics, Star Wars , etc.) , has partnered with Liverpool Football Club (LFC) to sell its licensed apparel in India , strengthening its position in the country’s $1.5 billion fan merchandise market.

“This launch will help us cater to today’s millennials. Liverpool fans in India will get authentic merchandise without having to wait weeks for products to be delivered,” said Vedang Patel, co-founder of The Souled Store.

" Fan economy " is an emerging buzzword in recent years. In a broad sense, it refers to a series of consumer shopping behaviors performed by fans for the people or things they follow (celebrity, sports stars, TV dramas, animations, etc.), including the purchase of related endorsement products, same products or peripheral products.

The fan economy covers a wide audience, including all age groups. Today, millennials have become an emerging force driving the growth of the fan economy, and India's youth and children's market is developing rapidly.

In the youth market, cricket, football and sports-related peripheral products are the main driving force for the growth of the fan economy. Indian people are very crazy about ball sports. Therefore, peripheral products of star teams are very popular in India. These peripheral products include team T-shirts, shorts, sports shoes and other clothing and shoes, bracelets, necklaces and other accessories, as well as ball-related products.

In recent years, the Indian children's market has also grown strongly, and children's toys, stationery and other children's products are the product categories that the fan economy focuses on.

As the "Frozen" movie series became popular, a "Princess Elsa" craze swept China . Products printed with Princess Elsa's pattern, such as pencil cases, school bags, and Princess Elsa's same capes, cloaks, and puffy skirts, became popular in China, and the market for peripheral products was booming.

The Indian children's market is similar to the Chinese children's market. Therefore, sellers can also use classic animated stories (such as One Thousand and One Nights) and popular cartoons that are well-known in India to design peripheral products and use the fan economy to enter the Indian children's market.

Although the fan economy has been very popular in recent years, sellers must ensure that their products are legal and compliant when selling peripheral products. Otherwise, the products will be complained about and removed from the shelves, and they may even be subject to corresponding penalties, resulting in huge losses. Therefore, sellers engaged in the fan economy must pay special attention to infringement issues.

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