In the first 10 years, China's furniture consumption market was dominated by practical consumption. In the future, China's furniture consumption will enter the era of aesthetic consumption, and the requirements for furniture materials, design, and brand will increase.
Furniture consumption is divided into three levels, namely practical consumption, aesthetic consumption and performance consumption. Practical consumption requires satisfying basic usage functions; aesthetic consumption requires home to meet aesthetic needs, consumers have a certain purchasing power, and the value appeal of furniture is "aesthetic". It is also sensitive to price and has a strong purchase plan. It will improve its bargaining power through multi-party comparisons, group purchases, and discount seasons. Pay attention to product design, material types, environmental protection, and brand; performance consumption is to meet the display needs and as an investment behavior. Consumers have considerable purchasing power, and the value of furniture is "expensive" and "rare". Pay attention to brand and product background.
The three major driving forces for furniture consumption, real estate investment, wedding, and consumption upgrades have changed. The real estate industry is facing major uncertainties. The number of married people in China will reach a peak around 2015, and consumption upgrades will become the main driving force for furniture consumption.
The market capacity of the furniture industry is about 600 billion, but there is no mass brand in the industry, and the size of a single brand is not large.The main reason is that China's furniture consumption in the first 20 years was mainly practical consumption, and furniture companies did not pay enough attention to design and lacked brand operation capabilities. The brand differentiation is low and no industry leader has been produced.
The investment logic of the furniture industry will follow two main lines, one: to meet the needs of aesthetic consumption, to establish a strong brand: the establishment of a strong brand requires many aspects of the company's ability, the first is to strengthen the design capacity, increase the proportion of original products. In addition, we must be unique in brand operation and after-sales service, and exceed consumer expectations in order to truly build a strong brand and drive sales with the brand. Second, embracing new business models, squeezing channel bubbles, and increasing consumer utility by reducing product prices, thereby enhancing the consumer experience.
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