Giant panda cub Xiang Xiang made her public debut in a Tokyo zoo on Tuesday and the nationwide craze for the the six-month old cub poses great business opportunities.
It was estimated that the market value of panda-related products could reach 26.8 billion yen (237 million U.S. dollars), while one day after her debut, the number has been revised to 40 billion yen (353 million U.S. dollars).
On Tuesday, about 1,400 excited and lucky visitors stood in long lines outside Ueno Zoological Gardens since early morning just to have a glimpse of the cute animal. Some of them came all the way from Hokkaido or Okinawa and asked for leave for the visit. Guided by staff members of the zoo, Xiang Xiang's admirers, 20 in each group, entered the zoo.
The Ueno area where the zoo is located used to be a must-go place for locals to shop for food at the end of the year. Now, panda-related products have become the best sellers.
"My child wanted to have panda toys after visiting Xiang Xiang. I spent more than 10,000 yen on that,”said a visitor.
To ride on the panda craze, some companies are selling panda themed Coca Cola, only available for sale in the Ueno area. Some others promoted panda coffee and panda-themed set meals. A total of 6,000 copies of the first edition of Xiang Xiang’s photo album have been sold out and more bookings have come in. The sales of panda-related books and calendars doubled and tripled compared to the same period last year.
"The panda-themed products sold well in our store recently. The revenue from that has accounted for one third of total revenue," said a local businessman.
The buzzing "Panda Economy" also drew attention from the capital market. It has become a common scenario for retail and catering companies near the zoo to see their stock prices rise with the key moments of Xiang Xiang, for example, her birthday, the day when a name was given, her public debut, etc.
Xiang Xiang’s parents are being lent from China to Tokyo, as envoys of peace and friendship between the two countries.
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