Furniture and Decorations

Industry development status

The United States is one of the leading exporters of Chinese furniture factories. In 2021, the export market of furniture industry was hot, and reached its highest peak in February. However, in 2022, the furniture export has gone from hot to calm. This is because domestic furniture enterprises cannot go abroad to participate in the exhibition due to the influence of the epidemic and other factors. Compared with other brands that can participate in the exhibition freely, the opportunities of channel expansion are reduced.

Despite the decline in revenue caused by the COVID-19 pandemic, the potential of the furniture and decoration market brought by China’s large population is still significant. Despite the impact of the COVID-19 pandemic, 12 related companies went public in 2022. China has lifted the epidemic prevention policy, and the furniture and decoration industry is expected to be further repaired. This is a very important opportunity for many countries to conduct business cooperation and investment in the Chinese market, so as to better develop their international market space and realize the value of their enterprises.

Analysis of the application field

Different from the past, people now increasingly pursue individuality. They prefer custom furniture to traditional decoration styles. According to the application field of customized furniture, it can be divided into commercial residential, hotels, high-end clubs, enterprises and financial institutions, stadiums, hospitals, cinemas, schools and so on. Among them, commercial residential, hotels, enterprises and financial institutions are the main application fields of customized furniture.

Compared with traditional furniture, custom furniture has great differences in design, production and sales. They are mainly composed of bedrooms and living rooms. Its design is differentiated according to the style of the building and the specific requirements of the owner. And with higher barriers to entry, profit margins are usually higher.

It is worth noting that the development of the Internet has brought convenience to enterprises and customers. Internet decoration has brought a new opportunity for traditional decoration companies to transform and upgrade, and has gradually become the industry that a lot of businesses and entrepreneurs  try to change. However, customers’ purchasing decisions are influenced by online content, which also means that content consumption in the industry will be promising in the future, and relevant enterprises should pay attention to online layout.

Consumer expectation

With the improvement of per capita income and living conditions, as well as the longer time spent living, studying and working at home, consumers, especially those in first-tier cities, will put forward higher requirements for their home environment. The young generation of consumer groups gradually poured into the furniture market, and more and more people began to enjoy home life. The diversified needs of consumers and the establishment of brand awareness have become the focus of the development of furniture enterprises. At the same time, the improvement of comprehensive quality prompts consumers to choose the direction of environmental protection and intelligence in home decoration. Therefore, enterprises will also face the challenge of environmental protection, energy conservation and the introduction of intelligent production lines.

Higlobal brings you new opportunities

Facing the changing market situation, furniture foreign trade enterprises are constantly optimizing product quality and service mode. They are constantly optimizing resources and enabling online operations. Now, the main products of most enterprises are smart home, in addition to overseas home, supply chain SaaS, etc., which have attracted the attention of many investors.

There are many kinds of furniture and decoration enterprises. As your service partner, Higlobal can make more detailed selection for you. At the same time, we rely on our own unique system to solve the supply chain lag, information is not timely and other problems for you to avoid trade risks.