Home Furnishing Companies Seize Customized Furniture in the Third- and Fourth-tier Markets as Industry Trend

 

In recent years, the development of the furniture market is not optimistic and urgently needs industry transformation and upgrading. Some well-known big-name companies have also adjusted the brand's market strategy and strive to open up new markets. In order to seek their own development, some furniture companies began to enter the ranks of customized furniture.

 

Home furnishing companies seize the third- and fourth-tier markets

 

As the core driving force of China's economic stimulus and social transformation, urbanization was identified as an important strategy by government decision-makers at the beginning of this year, and the continued increase in investment in fixed assets, while driving the construction of public infrastructure, also spawned incremental decoration Demand.

 

As the country's urbanization continues to advance, cities and towns will become livable places with higher quality, which will boost the domestic demand market. The home furnishing industry will benefit from it and usher in a new round of development peak. "At present, it seems that the more backward prefecture-level cities and the top 100 county-level cities are the focus of urbanization development, and this is also an opportunity for the home furnishing industry."

 

The huge dividend brought by urbanization has made furniture people eager to move. Some furniture companies have already smelled the business opportunities of urbanization. They have actively sunk their sales channels and seized the third- and fourth-tier markets.

 

The mattress industry's overall slow growth last year was mainly due to the lagging effect of real estate regulation. However, with the spread of urbanization and the improvement of people's living standards, the demand for mattresses by urban residents in third- and fourth-tier cities and even the vast rural areas may increase substantially.

 

According to industry analysts, in the next 20 years, urbanization will become an important driving force for the rapid development of China's furniture industry. In addition to the first and second tier cities, the demand for third and fourth tier cities will also rise significantly.

 

Increased product line differentiation

 

"In terms of products, we pay attention to the creation of high-end products and overall bedroom supporting facilities in first- and second-tier cities, such as matching wardrobes and drawers; in third- and fourth-tier cities, we mainly promote products that are close to the people, so that we can better capture consumers. Demand point. "Li Yueshun said that the market cake for third- and fourth-tier cities is huge, depending on whether companies can seize it.

 

From the material, it can be divided into panel type, panel wood combination, and solid wood series furniture. The product layout is slightly different according to the size of the store in each city and the purchasing power of consumption. In the first- and second-tier cities, while ensuring a reasonable ratio of wood furniture to solid wood furniture, it will also appropriately increase the proportion of solid wood furniture such as Gu Nuo Fanxi, such as China, while the third- and fourth-tier cities are dominated by wood furniture. Many panel furniture brands have begun to transform, and home stores have also followed the market trend, gradually adjusting the proportion of panel furniture in the store.

 

The mainstream European and American furniture in the market provides consumers with a one-stop shopping service for European and American classical furniture. At the same time, Chengwai Cheng also began to build a brand-new European and American furniture pavilion of 50,000 to 60,000 square meters. The original "European and American Furniture World" of Chengwaicheng will be moved to the pavilion after re-branding.

 

Customized furniture becomes an industry trend

 

At this year's Shenzhen Furniture Fair, high-end custom furniture pavilions were launched for the first time, enabling custom homes to attract industry attention. Although customized furniture has entered the country for more than ten years, it still belongs to an emerging industry, accounting for about 10% of the entire furniture market, and has huge development potential.

 

In September, the All-China Federation of Industry and Commerce's Furniture Decoration Industry Chamber Solid Wood Customization Committee released the "2013 White Paper on the Development and Consumption of China's Custom Home Furnishing Industry". According to the survey, at present, among the approximately 100 million urban residents in China, the overall kitchen, cloakroom, and private cellar ownership rate is only 6.8%, which is far below the average level of 35% in developed countries in Europe and America.

 

The survey also showed that about 29% of urban households said that they would purchase and install a whole home in the next 3 to 5 years. In the next 5 years, the total demand or intent to purchase of China's overall custom homes is about 29 million units, with an average of 5.8 million units per year. Various signs indicate that the development space of China's customized home furnishing industry in the 21st century is huge, and the development prospect is very broad. (Editor: Peter)

 

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