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Forecast and Analysis of the Development Trend of China's Furniture Industry in 2017

Forecast and Analysis of the Development Trend of China's Furniture Industry in 2017

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company news
2019/01/16 11:06
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After more than 30 years of development in China's furniture industry, the variety of furniture products is becoming more and more abundant, the product style is more and more diversified, and product competition has entered the era of brand competition. Domestic furniture consumption will show a "polarization" trend, one is the rise of high-end furniture consumption, and the other is the popularity of affordable furniture products.
 
According to the "2015-2020 China Furniture Market Research Report" issued by the China Business Research Institute, in 2017, Chinese furniture companies will continue to meet the needs of customers' branding, personalization and environmental protection based on a clear market positioning. Pursue the maximization of your own value.
 
1. Price competition gradually transforms into brand competition As the income level of residents continues to increase, the consumption habits of Chinese consumers are also constantly changing. The furniture industry has gradually evolved from a seller's market in the planned economy era to a buyer's market dominated by price competition. It is currently in the transitional stage from price competition to brand competition. Price competition and brand competition are important means for furniture companies to participate in market competition. However, price competition focuses on the present and survival. It has a lower limit of competition. Brand competition focuses on the future and development. It is a competition that constantly changes from low to high. It is an endless competition. These include images, products, services, networks, market protection and many more.
 
2. From satisfying the practical to the individuality of the publicity From the perspective of consumers, with the changes in consumer consumption, major consumer groups, and income levels, the demand for medium and high-end furniture is rapidly expanding, and consumers' purchasing behavior is increasingly differentiated and individualized. The development of the whole market has become a trend of specialization and segmentation. In the future, consumers will pay more attention to refinement, personalization and diversification. The demand for furniture's integrity, coordination and design will continue to increase, paying more attention to the style, taste, representative culture and after-sales service of the home. The serialization of furniture products will be further improved. There are a variety of styles, sizes and functions of the same series of furniture for different consumers to choose from, from the product perspective to meet the needs of differentiation and individualization.
 
3. Gradually improve the environmental protection requirements of products After the basic needs of life have been met, people began to pay attention to the quality of home life, especially the impact of furniture products on health. The environmental protection of products has gradually become an important standard for measuring product quality. Paying attention to environmental protection has become an irreversible trend in the furniture industry.
 
4. As the industry's competition intensifies and the economy cyclically fluctuates, the industry continues to shuffle. In recent years, the furniture industry has expanded significantly, and new furniture hypermarkets and big brands have been added. However, the types and types of products and quality homogenization of the stores themselves are very serious and the competition is fierce. China's furniture industry has expanded rapidly in production, and has become a major producer of furniture products in the world, resulting in excess capacity of middle and low-end furniture.
 
Along with the expectation of slowing economic growth and the impact of real estate regulation and control policies, some small and medium-sized enterprises in the furniture industry are bound to face a trend of reducing production, closing down, and being integrated. However, at a deep level, this trend is currently a self-regulating process in the furniture industry. The furniture industry is squeezing out foam and irrational components. In the fierce competition, it gradually phase out the homogenization of furniture brands and eliminate the quality price. High brand, elimination of brands that do not meet the mass consumption, leaving high-quality furniture brands to continue healthy development, has also become a new development trend of the furniture industry. In addition, the extensive development model of the furniture industry through continuous expansion of production scale has not adapted to fierce market competition. Intensive enterprises with design advantages, adopting new technologies and new processes, improving machinery and equipment, and increasing investment in technology and innovation will Take over more advantages in the industry shuffling.