Explore the laws of the home furnishing industry through 2023!
Publishdate：2024-02-01 Source： Views：56
The year 2023 has come to an end. At the end of the year, everyone is taking stock and summarizing. As the first year after the end of the epidemic, home decorators have placed many expectations for 2023.
In 2023, the home furnishing industry faces both challenges and opportunities. This year, we have gained unexpected joy and also looked forward to the anticipation of crossing the autumn water; In addition to accompanying challenges, there are also unexpected opportunities.
This year, many major events have occurred in the industry: the domestic real estate industry is sluggish, consumer confidence is insufficient, the State Council has issued "Several Measures to Promote Home Consumption", various consumer festivals, home expos, e-commerce live streaming, short videos, China Construction Development's acquisition of Red Star, Midea's acquisition of Gu Jia, digital transformation... In this context, the entire industry is struggling with a tenacious attitude. Although there is no correlation between these industry events, in the context of a year, some patterns can still be explored.
(Picture source: household figures - official account, intrusion and deletion)
In 2023, for home decorators, they have tasted a lot of sour, sweet, bitter, and spicy flavors. Overall, I feel that there are many activities in the industry, whether organized by industry associations or enterprises, with many exhibitions, forums, cross-border activities, short videos, live broadcasts, etc. The customer flow of home building materials shopping malls is low, and most shopping malls are deserted and empty. The number of brands that have withdrawn from the mall varies, including factories, shopping malls, and so on Dealers have become ants on the hot pot.
Over the course of a year, we have not seen the economic recovery after the three-year pandemic, which has backfired. In 2023, most people have felt a colder and more severe winter than the three-year pandemic. The reason for such a contrast should be multifaceted, among which the high expectations of everyone are also one aspect.
From a policy perspective, 2023, as the "Year of Boosting Consumption", is a major measure taken by the country after the epidemic. On the one hand, it boosts economic confidence, and on the other hand, it boosts the total consumption. It mainly promotes bulk consumer goods such as "four households and one vehicle" (furniture, home decoration, home appliances, textiles, and automobiles), and various regions have launched multiple consumer promotion activities, but the effect is not particularly outstanding; From a market perspective, it is an undeniable fact that the overall demand decline caused by factors such as consumption downgrade, insufficient purchasing power, and sluggish real estate after the epidemic. It seems that it will take time for the "three carriages" to fully unleash their power.
(Picture source: household figures - official account, intrusion and deletion)
The development of anything follows objective laws, and the development of an industry is not determined by human subjective will. Over the years, fleeting events in the industry have often occurred, and leapfrog development and lasting eternity are just the beautiful hopes that everyone hopes for. Examining the current economy with an objective, rational, and scientific attitude and predicting future industrial development should be the top priority.
The current industry development has become more rational, and high growth no longer exists. Relying on real estate to drive, population dividends, and speculative profits has become a thing of the past. Nowadays, enterprise development relies on the competition of comprehensive strength. Therefore, the "Matthew effect" of the stronger and the weaker is becoming more and more apparent. Small and medium-sized enterprises have anchored their focus on "specialized, refined, and innovative", "gazelle enterprises", and even individual champions, while industry leaders rely on the "five innovations" It is no longer realistic for small and micro enterprises to rely on following and imitating leading enterprises in the era of new materials, new technologies, new processes, new equipment, and new models, as well as lean management and digital transformation to win market initiative.
(Image source: CCTV website, hacked and deleted)
In the coming years, the multi-channel sales of home furnishing enterprises will become increasingly apparent. The State Council has issued "Several Measures to Promote Home Consumption", which clearly proposes four measures to promote consumption: renovation of old residential areas, aging friendly furniture, construction of convenient living circles, and recycling of waste furniture products. These will become new growth points in the home furnishing industry in the coming years.
The Chinese economy has experienced 20 years of rapid growth, with the real estate sector dominating. Nothing can go against its development laws. The current weakening demand in the real estate market and the expected decline are also expected. The real estate industry has affected more than 50 related sub industries, with the home building materials industry being the most direct. In 2024, the national macro policies will continue to promote consumption and expand domestic demand. We believe that the recovery in the post epidemic period will gradually improve, and the economy will also gradually recover. We look forward to the blooming of 2024.
(Article source: Shandong Furniture Association, edited and deleted)
The year 2023 has come to an end. At the end of the year, everyone is taking stock and summarizing. As the first year after the end of the epidemic, home decorators have placed many expectations for 2023.
In 2023, the home furnishing industry faces both challenges and opportunities. This year, we have gained unexpected joy and also looked forward to the anticipation of crossing the autumn water; In addition to accompanying challenges, there are also unexpected opportunities.
This year, many major events have occurred in the industry: the domestic real estate industry is sluggish, consumer confidence is insufficient, the State Council has issued "Several Measures to Promote Home Consumption", various consumer festivals, home expos, e-commerce live streaming, short videos, China Construction Development's acquisition of Red Star, Midea's acquisition of Gu Jia, digital transformation... In this context, the entire industry is struggling with a tenacious attitude. Although there is no correlation between these industry events, in the context of a year, some patterns can still be explored.
(Picture source: household figures - official account, intrusion and deletion)
In 2023, for home decorators, they have tasted a lot of sour, sweet, bitter, and spicy flavors. Overall, I feel that there are many activities in the industry, whether organized by industry associations or enterprises, with many exhibitions, forums, cross-border activities, short videos, live broadcasts, etc. The customer flow of home building materials shopping malls is low, and most shopping malls are deserted and empty. The number of brands that have withdrawn from the mall varies, including factories, shopping malls, and so on Dealers have become ants on the hot pot.
Over the course of a year, we have not seen the economic recovery after the three-year pandemic, which has backfired. In 2023, most people have felt a colder and more severe winter than the three-year pandemic. The reason for such a contrast should be multifaceted, among which the high expectations of everyone are also one aspect.
From a policy perspective, 2023, as the "Year of Boosting Consumption", is a major measure taken by the country after the epidemic. On the one hand, it boosts economic confidence, and on the other hand, it boosts the total consumption. It mainly promotes bulk consumer goods such as "four households and one vehicle" (furniture, home decoration, home appliances, textiles, and automobiles), and various regions have launched multiple consumer promotion activities, but the effect is not particularly outstanding; From a market perspective, it is an undeniable fact that the overall demand decline caused by factors such as consumption downgrade, insufficient purchasing power, and sluggish real estate after the epidemic. It seems that it will take time for the "three carriages" to fully unleash their power.
(Picture source: household figures - official account, intrusion and deletion)
The development of anything follows objective laws, and the development of an industry is not determined by human subjective will. Over the years, fleeting events in the industry have often occurred, and leapfrog development and lasting eternity are just the beautiful hopes that everyone hopes for. Examining the current economy with an objective, rational, and scientific attitude and predicting future industrial development should be the top priority.
The current industry development has become more rational, and high growth no longer exists. Relying on real estate to drive, population dividends, and speculative profits has become a thing of the past. Nowadays, enterprise development relies on the competition of comprehensive strength. Therefore, the "Matthew effect" of the stronger and the weaker is becoming more and more apparent. Small and medium-sized enterprises have anchored their focus on "specialized, refined, and innovative", "gazelle enterprises", and even individual champions, while industry leaders rely on the "five innovations" It is no longer realistic for small and micro enterprises to rely on following and imitating leading enterprises in the era of new materials, new technologies, new processes, new equipment, and new models, as well as lean management and digital transformation to win market initiative.
(Image source: CCTV website, hacked and deleted)
In the coming years, the multi-channel sales of home furnishing enterprises will become increasingly apparent. The State Council has issued "Several Measures to Promote Home Consumption", which clearly proposes four measures to promote consumption: renovation of old residential areas, aging friendly furniture, construction of convenient living circles, and recycling of waste furniture products. These will become new growth points in the home furnishing industry in the coming years.
The Chinese economy has experienced 20 years of rapid growth, with the real estate sector dominating. Nothing can go against its development laws. The current weakening demand in the real estate market and the expected decline are also expected. The real estate industry has affected more than 50 related sub industries, with the home building materials industry being the most direct. In 2024, the national macro policies will continue to promote consumption and expand domestic demand. We believe that the recovery in the post epidemic period will gradually improve, and the economy will also gradually recover. We look forward to the blooming of 2024.
(Article source: Shandong Furniture Association, edited and deleted)
