This study examines the cultural and economic dimensions of anime merchandise through a case study of character perfume. Emerging in the 1960s as a form of low-budget, limited animation, anime has evolved into a cornerstone of Japanese popular culture with substantial economic and cultural influence globally. The anime industry, underpinned by the media mix business model, derives significant revenue from diverse streams, with merchandising playing a critical role. Despite this, academic exploration of anime-related products and their consumption remains limited. Addressing this gap, this study investigates the profitability and cultural significance of anime merchandise through a case study of character perfume. These unique products blend semiotic elements – icons, symbols and indices – to bridge narratives with sensory experiences. The analysis integrates theoretical perspectives on anime consumption and the value of commodities, providing insights into how character perfume evokes parasocial relationships and blurs the boundaries between fiction and reality. The findings suggest that anime merchandise thrives due to its ability to embody diverse values, meeting the varied desires of anime fans. This study highlights the enduring appeal of physical goods in fan cultures and their implications for the anime industry, fan economies and cultural production.
Hengrui Luo (Wed,) studied this question.