What Are The New Opportunities For Furniture Industry?-芽尖-精英组-陈依琳

After the slump in 2018, the overall trend of the furniture industry in 2019 is still in the doldrums. The growth rate of most enterprises fell by more than 20%, and some enterprises showed negative growth. Leading enterprises are still so, and small and medium-sized furniture enterprises are hovering on the life and death line.

To make matters worse, the escalation of the trade war will weaken the export business of domestic furniture products. Foreign trade enterprises are likely to adjust their market strategy and turn to tap the domestic market. The continuous adjustment of domestic housing policy also increases the uncertainty of the development of furniture market. Under the Matthew effect, small and medium-sized enterprises are in danger and need to tap new market opportunities as soon as possible.

So, where will the next "tuyere" of furniture industry appear?

The trend of pursuing product health is obvious

Furniture safety incidents, such as the overturning of cupboards and formaldehyde exceeding the standard, have caused a lot of public opinion. Contemporary consumers pay more attention to the environmental protection and safety of furniture products, and their understanding of furniture products is more comprehensive with the development of network. Therefore, furniture and building materials enterprises must take "environmental protection" and "safety" as the important keywords of the whole product production.

Whether enterprises can provide relevant certificates, whether they can provide formaldehyde, toluene and other follow-up testing services, is an important reason for consumers to decide whether to buy a product. In addition, in the plate and solid wood materials, consumers prefer solid wood. Some more environmentally friendly new materials, such as bamboo, metal and so on, will also become the furniture materials that will be popular among consumers in the future. Furniture enterprises can carry out innovative research and development on new materials.

Furniture industry is entering the era of low profit. The bargaining power of consumers is constantly improving, which puts forward higher requirements for the production, pre-sale and after-sale, marketing and other aspects of enterprises. There is no lack of new opportunities in the industry. We need a pair of eyes that are good at discovering.

What Are The New Opportunities For Furniture Industry?

The furniture industry is experiencing a boom in recent years, with more and more consumers becoming interested in home decor and design. With this increased demand comes new opportunities for manufacturers, retailers, and designers. In this article, we will explore some of the new opportunities that are emerging in the furniture industry.

1. Customization

One of the trends that has emerged in recent years is the desire for customized furniture. Consumers are no longer content with standard designs and colors. They want to personalize their furniture to fit their individual tastes and preferences. This presents a new opportunity for manufacturers to create more unique and personalized designs. Customization may also result in higher profits, as the price for a customized piece of furniture is typically higher than its standard counterpart.

2. Sustainable Materials

As consumers become more environmentally conscious, there is a growing interest in sustainable furniture materials. Companies that use sustainable materials such as bamboo, reclaimed wood, and recycled materials, are finding success in the market. Additionally, consumers are also willing to pay a premium for furniture that is environmentally friendly.

3. Online Sales

The COVID-19 pandemic has accelerated the shift towards online shopping. This applies to the furniture industry as well. With more and more consumers shopping online, it is important for businesses to have a strong online presence. This includes having a user-friendly website, engaging social media accounts, and a strong digital marketing plan.

4. Subscription Services

Subscription services are becoming increasingly popular in the furniture industry. Companies like Feather and CasaOne offer rental furniture, allowing customers to rent furniture for a specific period of time. This is a great option for consumers who move frequently, or who are looking for temporary furniture solutions. This trend is also beneficial for manufacturers and retailers who can earn recurring revenue from these subscriptions.

5. Outdoor Furniture

The pandemic has also resulted in an increased interest in outdoor living. As more people are spending time in their outdoor spaces, there is a growing demand for outdoor furniture. This presents an opportunity for manufacturers and retailers to develop and market new outdoor furniture designs and collections.

6. Smart Furniture

As smart technology becomes more ubiquitous, there is an opportunity for furniture manufacturers to incorporate technology into their designs. Smart furniture can include features such as built-in charging stations, automated lighting, and temperature control. This can provide consumers with added convenience and make their home living experience more enjoyable.

7. Virtual Reality

Virtual reality can help consumers experience furniture designs in a more immersive way. By providing virtual reality experiences, consumers can get a better sense of what their furniture will look like in their homes. This technology also allows customers to customize their furniture designs in virtual reality before making a purchase.

In conclusion, the furniture industry is experiencing a period of growth and expansion. With new trends and technologies emerging all the time, there are plenty of opportunities for manufacturers, designers, and retailers to succeed. Customization, sustainable materials, online sales, subscription services, outdoor furniture, smart furniture, and virtual reality are just a few of the areas where the furniture industry is expanding. As consumers continue to change and evolve, it will be interesting to see how the furniture industry responds to these trends.