Why is Genshin merch so expensive?

I've been wondering, why exactly is Genshin merchandise so pricey? I mean, I understand that the game itself is popular and has a dedicated fanbase, but is that really enough to justify the high price tags on things like figurines, plushies, and clothing? Are there any specific factors that contribute to the cost, or is it just because of the brand name and demand? I'd love to hear your thoughts on this as a professional in the cryptocurrency and finance field, as you might have some insight into the economics behind it all.