Analysis of the Commercial Value of China's Intangible Cultural Heritage Guangcai - A Study Based on SWOT Analysis

Abstract

The contemporary Chinese intangible cultural heritage industry, represented by Guangcai, has garnered considerable attention due to its distinctive aesthetic qualities and rich historical heritage. However, a comprehensive exploration of its commercial value remains a research gap. This study aims to address this gap by employing the SWOT analysis framework to comprehensively analyze the strengths, weaknesses, opportunities, and threats of Guangcai. Through an in-depth analysis, targeted recommendations have been formulated to facilitate the sustainable development of the Guangcai industry. The research findings highlight Guangcai's aesthetic advantages and geographical trade advantages in the international market, alongside challenges such as a shrinking labor market and limited visibility. Moreover, Guangcai faces opportunities arising from the increasing societal demand and the digitalization of the internet, as well as threats associated with the continuous substitution of foreign art and shifts in the international landscape. This study offers strategic and practical insights, providing valuable applications for the government, businesses, and practitioners, propelling the commercial development and cultural preservation of China's traditional intangible heritage industry.