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â–¡ This edition of the author information news reporter Wang Yingting
Customized enterprises pursue the whole house customization concept, Furniture enterprises aim at overseas production, offline stores sell home and sell experience... The reporter learned from Qianxun Consulting that the financial report data of the first three quarters of 2018 disclosed by more than 40 home-listed companies It shows that the home industry has ended more than 30% of the high-speed growth era, entering the new normal of 10%-20% growth. In the unpredictable situation of 2018, what remains unchanged is the pace of home business exploration. In 2019, how will the home “big play†be staged?
Super 60% new middle-class choose custom furniture mode
It is understood that benefiting from the impact of real estate, exports and consumption upgrades, the household industry, which has been inseparable from the macro economy for many years, has shown sustained and steady growth. According to the report of the 2018 Mid-term Investment Strategy of Light Industry Manufacturing Industry issued by China Merchants Light Industry, the data from the Statistics Bureau shows that from 2000 to 2013, the growth rate of operating income of domestic furniture manufacturing enterprises reached 25.8%, and after 2013, With the domestic economy and real estate cooling, the average annual growth rate of the household industry has dropped below 20%, and it has continued to slow down. Although the growth rate has slowed down, but benefited from the post-real estate cycle, the middle-aged population, the second home purchase, the personalization and the maximization of space utilization, the home furnishing industry, especially the custom industry, has ushered in a new round of growth in recent years. demand.
While custom homes are entering the new normal of growth of 10%-20%, they still need to be further explored in terms of market demand and product matching. According to the recent China Interior Decoration Association, China Building Decoration Association, China Building Decoration Materials Association, the National Federation of Industry and Commerce Furniture and Decoration Industry Chamber of Commerce and other 14 industry associations jointly launched by Sina Home, "2018 China New Middle-class Household Consumption Index Report" (hereinafter referred to as " According to the survey data released by the New Median Report, 64% of the new middle-class companies will choose some customizations, 22% will choose finished furniture, and only 13% will choose the whole house. Throughout the industry, many home leading brands have branded the whole house to customize the brand concept, and also caused many second, third and fourth-line brands to follow suit. Under this circumstance, more than 60% of the users choose some custom furniture. Consumers hope that while maintaining the overall style and functional unity of the furniture, they can also have flexible combination of free combination and different mix and match.
For the custom home development market, Zeng Yong, secretary-general of the Guangdong Customized Furniture Association, believes that consumers after 80s and 90s have gradually become the main force. The previously common solid wood furniture is not too boring and complicated, and is not accepted by a new generation of consumers. They love simple, stylish styles, and custom home products should change with the needs of consumers.
Furniture companies turn their attention to overseas manufacturing
In 2018, a number of home-listed companies announced their overseas investment, especially in finished products.
In 2018, Gujiajiao took the lead in the acquisition of the three foreign furniture brands of Italy's top furniture brand Natuzzi, Germany's top home furnishing brand Rolf Benz and Australian veteran furniture brand Nick Scali in 2018. Since then, Qumei Home announced in August. A tender offer for the well-known Norwegian furniture brand Ekornes ASA has been completed, and a 98.36% stake in Ekornes ASA is held by overseas subsidiaries. The remaining shares are compulsory under Norwegian law; soon after September 2018, Xilinmen announced that it will be established in Thailand. Subsidiary; In November 2018, Meike Home announced plans to increase its capital for its three Vietnamese subsidiaries, with a total capital increase of US$26 million. In the same month, Dream Lily announced a non-public offering plan and plans to raise funds for US production. Development of base and Serbia (third phase) production base construction projects. Previously, it has established factories in Spain, Serbia, Thailand and the United States.
The reason why furniture brands have successively deployed overseas production capacity, most brands announced the reason is to solve the problem of production capacity and further expand the market scale, and their willingness to invest overseas is gradually increasing. Cinda Securities proposed that the market development of local brand-name enterprises will generally have three stages: from regional to national and then global. China's leading furniture enterprises have basically completed the market layout from regional to national, and enterprises that can achieve globalization are inseparable from the development speed, anti-cycle ability and industry competitiveness.
According to the analysis of the Tianfeng Securities Research Report, the furniture industry leading companies have obtained a large market share in the forward-looking strategic layout and rapid organizational form, and the market concentration is expected to further increase. At present, the overseas market of A-share home-listed companies, including furniture brands such as Gujia Home and Meike Home, has formed a scale. However, due to the fluctuation of raw material prices, some enterprises will be able to transfer production capacity overseas.
Online and offline "sense medicine" crawling experience
In the development of sales channels in 2018, brands have paid more and more attention to the shopping experience of consumers, such as the more popular home stores in shopping malls, the experience of MALL in the home, and the start of the super-stores in Shangpin... From the store to the shopping mall, to the home store to transform into a comprehensive shopping mall, and then to the store to introduce a variety of formats, enhance the sense of shopping experience while also increasing offline traffic.
According to the "New Middle-Year Report", 44% of the new middle-class selects home hypermarkets, 33% select brand stores, and only 17% choose brand e-commerce flagship stores through the survey of household product purchase channels that are favored by middle and high-end people in China. It can be seen that home hypermarkets and brand stores are still the first choice for most new middle-class buyers to buy home products. It is understood that most of the household products are related to experiential products, consumers tend to buy personal experience before, so offline stores increase the fun of shopping to maintain high viscosity.
But is the traditional home industry not going online? According to Tmall official data, in 2018, there were over 40 home furnishing brands in the Double Eleven. The "New Middle School Report" statistics also found that standardized home products are more likely to be purchased online. Nearly 70% of new middle-class families have purchased home appliances online, 40% have purchased lamps, home textiles, home furnishings and furniture, and 30% have purchased Through bathroom products.
It is understood that household goods are relatively expensive compared to other consumer goods such as warehousing, logistics, and installation. Many brands are building their own service systems to further reduce network sales costs. Zeng Yong said that with the development of science and technology, consumers are becoming more and more lazy in their lives. We should think about how to provide consumers with a convenient shopping experience, such as opening the store to the community and the roadside, and optimizing consumers. Shopping experience.