The general trend of the development and evolution of the furniture industry in the next 10 years

The history of the furniture industry is very long, but the rapid development in the past 20 years has far exceeded the evolution of thousands of years.

A set of data can give us a glimpse of the "thousands" of furniture industry: the total number of enterprises is more than 50,000, the total output value ranks first in the world, and all styles and schools are involved.

And we also see that the current furniture industry is also facing the same difficulties as most pan-home furnishing industries: from high-speed growth to a new stage of engine replacement with medium- and low-speed growth, the competition is more intense, the market concentration is constantly increasing, and more and more small and medium-sized furniture companies are integrated and eliminated.

In the next 10 years, how will the furniture industry evolve? This article will give you a panoramic view from the dimensions of competition, products, R&D production, channels, marketing, and users. In fact, we have tried to propose countermeasures from the perspective of furniture head companies in marketing, product, and R&D.

1. Symbiosis of branding and niche

The consumption characteristics of furniture are high price, low frequency, and high involvement, and it is not only products that need to be provided, but also services. What directly affects consumers' choices is the brand. On the other hand, the furniture industry is a non-standard product, and consumption is very diverse - thousands of people have thousands of faces.

This determines that the stratification of furniture brand characteristics will become the mainstream, and brand differentiation will become increasingly important; cost-effective explosive products will continue to be popular with the advancement of Internet home decoration.

2. Stock competition triggers a major reshuffle

Furniture is a typical post-cycle industry in real estate. From the perspective of demand, the terminal demand of the furniture industry comes from fine decoration, new house decoration, and second-hand house decoration. The rise and fall, speed and speed of real estate directly affect the rise and fall, speed and speed of the furniture industry.

At present, the era of China's real estate stock housing has arrived. The transition from the past seller's market to the buyer's market will inevitably trigger a major reshuffle in the furniture industry, and the market concentration is expected to be greatly improved. This is particularly obvious under the outbreak of the new crown epidemic in 2020.

In fact, under the future stock competition, it may not be the head companies that are washed out, but small and medium-sized enterprises. Small and medium-sized enterprises lack the advantages of funds, scale, team, and technology, and gradually lose consumers, resulting in a rapid market share approach to leading brands. This will also happen in the furniture industry.

3. From product operation to industrial operation, it is the key to break through the bottleneck of 10 billion and rush to 100 billion.

Compared with the trillion-dollar furniture market, the leading enterprises only have a share of 10 billion, and no furniture enterprise has been able to dominate the market.

In fact, the development of a single category of furniture enterprises can easily reach a bottleneck. After all, even if a certain type of single product is the best in the field it is best at, it can only make 10-20 billion.

Learn more:Livingroom set,Coffee Tabels And Chairs,Dining room set,Bedroom set,Luxury Sofas,Home office