The scale of the custom furniture market has broken 250 billion! Understand the driving factors of m
- Author:Tengye Furniture
- Release on:2020-06-16
In 2020, under the superposition of factors such as shocks in international financial shopping malls, increased friction between China and the United States, a downward trend in real estate shopping malls, and fierce competition in custom furniture shopping malls, the custom furniture profession is facing many tests.
Real estate profitability declines, the custom furniture industry enters a reshuffle period, and the competition in the entire shopping mall has gradually entered a multi-dimensional summary of brand, product, service, design, approach, marketing, talent and management, and corporate planning. With horizontal competition, the entire profession will gradually change from a production type to a production and service type, and custom-made furniture malls will gradually gather to advantageous enterprises in the profession.
In 2019, my country's custom furniture shopping mall plans to exceed 250 billion yuan. With the increasing penetration rate of custom furniture products, the gradual withdrawal of craft products, the career planning is expected to continue to expand.
However, it should be noted that although the rapid development of customized furniture has been completed in recent years, it is still in the early stages of development in my country. There are many manufacturers, the market share is scattered, and the leading position is far less prominent than the home appliance profession.
In addition, the product penetration rate is still low, with a large penetration space. Therefore, the center of increased revenue for custom-made furniture companies is not the increase in market share, but the improvement of occupational penetration rate and the expansion of the company's business line.
This article first summarizes and analyzes the four driving factors that affect the development of my country's custom furniture profession:
Driving factor one: the acceleration of urbanization
The urbanization process has accelerated to provide a source of power for the custom furniture profession. my country is in a period of rapid urbanization, and the national urbanization rate (the proportion of urban population in the total population)52.57% in 2012 increased to 59.58% in 2018.
The rapid development of furniture stores, especially all home furnishing stores, is inseparable from my country's urbanization process. The acceleration of my country's urbanization process will provide a vast market space for the development of customized furniture occupations.
Driving Factor 2: Resident income continues to increase
With the development of the macro economy, the disposable income of our residents continues to increase, and the consumption power of residents has greatly improved.In 2018, per capita disposable income reached 28,228 yuan, an increase of 8.7% year-on-year. After deducting price factors, the actual increase was 6.5%.
The continued increase in the per capita disposable income of the residents has laid the certainty of the domestic consumption promotion trend, driven the consumption of high-end and high-end customized household products, and also made the increase in the customer unit price of the furniture profession have an income foundation.
Driving factor three: real estate malls operate steadily
The furniture profession belongs to the real estate post-cycle profession, and is closely related to the real estate professional prosperity. The primary demand comes from housing transactions, including new houses and second-hand houses.
In 2018, the real estate shopping mall adhered to the main theme of "no housing, no speculation", and the performance of real estate regulation in various places has become tighter and stricter.
In 2018, the area of homes sold in my country was 1.48 billion square meters, an increase of 2.2% year-on-year. The completed area of homes was 660 million square meters, a year-on-year decline of 8%. Related occupations are under greater pressure from real estate occupations.
Driver 4: Continuous release of consumption potential
For many years, the consumption of Chinese residents accounted forThe proportion of GDP has always been lower than that of developed countries in Europe and America. With the gradual elimination of the factors that suppress my country's consumption, under the combined effect of consumption promotion and consumption popularization, the consumption levels and consumption plans of our residents will continue to increase for a long time.
In 2018, the total retail sales of social consumer goods nationwide was 380.987 billion yuan, an increase of 9.0% over the previous year. Among them, furniture increased by 10.1%. Under such a large setting, residents' consumption potential has a lot of room for release, and the consumption of customized furniture continues to increase steadily.
For more information, please refer to "TheResearch Report on the Prospects and Investment Opportunities of Professional Customized Furniture Markets in China from 2019 to 2024.