In the furniture industry, despite increasing trade barriers in developed countries, export values from January to September still managed to grow at a rate of 30%. While bamboo and rattan furniture experienced negative growth and pure wood furniture saw only single-digit growth, the remaining seven categories of furniture products continued to grow at rates exceeding 21%. Major export destinations include the U.S., Japan, the UK, Germany, and Australia, with Malaysia showing the highest growth rate at 117.98%, followed by Saudi Arabia with a growth rate of 72.83%.
On the domestic front, the furniture market is experiencing a chill. Compared to the bustling export market, the domestic scene is rather quiet. Several furniture manufacturers have noted that as of November, civilian furniture store sales have not seen an increase. Only a few specific furniture brands have reported slight improvements. Most furniture manufacturers in the Pearl River Delta region focus on the national market, primarily targeting first- and second-tier cities. The impact of real estate regulation policies is significant. Although this year's sales performance hasn't dropped compared to last year, maintaining similar market shares, profits have fallen due to rising labor and raw material costs.
Despite these challenges, the furniture industry is seeing innovative marketing strategies emerge. For instance, companies like Longjiang and Lecong in Shunde have collaborated with Yiyang, Hunan, to jointly develop "Yiyang Shunde City," attracting numerous participants through trade shows, factory sales events, and large-scale group purchases. Cross-industry collaboration is also gaining traction, with furniture companies teaming up with brands like ceramic tiles, flooring, and paint to form alliances and share resources, fostering mutual benefits.
In 2012, often referred to as the "Year of E-commerce" in the furniture industry, many renowned brands have expanded their presence online, with some even launching special supply online stores. Online furniture orders have become increasingly lucrative, prompting several brands to establish dedicated e-commerce teams covering everything from pre-sale consultations to post-sale services.
Looking ahead to next year, there are differing opinions within the industry regarding market conditions. Some believe that given the ongoing real estate regulation policies, the downstream furniture market will remain sluggish, necessitating preparedness for challenging times. Others are optimistic, anticipating gradual improvement in the furniture market, thanks to the new government’s commitment to economic stability following the conclusion of the Eighteenth National Congress. However, expectations are tempered, with a consensus that the market won't return to its previous peaks but will instead settle into a steady growth trajectory.
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