Forecast: Trend Of Furniture Industry

- Mar 22, 2021-

All kinds of furniture enterprises are actively carrying out "self-help" in 2021. In any case, the epidemic seriously affected this year's economic development trend, and also made the furniture industry full of variables. Here, we make the following prudent forecast on the trend of the furniture industry this year:

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1. The export of foreign trade is extremely difficult

The epidemic broke out overseas. The "North American foreign trade market" dominated by the United States, the "EU foreign trade market" dominated by Germany and Italy, and the "East Asian foreign trade market" represented by Japan and South Korea were seriously affected by the epidemic.

 

For the furniture manufacturing enterprises exporting to these places, they are faced with: overseas purchasing customers cancel or delay orders, resulting in great pressure on inventory and cash flow; the demand for home as a kind of durable consumer goods will drop precipitously; even if there are a small number of orders, before the epidemic situation is completely lifted, international logistics will be further frustrated, which will also affect foreign trade exports; the export of furniture will be affected The postponement of the exhibition, such as the postponement of the 2020 Milan Furniture Fair to 2021, means that export enterprises should strive to develop online channels.

 

The year 2020 will be a "year of life and death" for furniture enterprises doing foreign trade and export. The author predicts that some small factories with pure foreign trade will shrink and close down, and some large enterprises mainly engaged in foreign markets will use online channels to expand customers' orders while exploring domestic channels. The financial report of the first quarter will be released at the end of the month. You can pay attention to the financial report of some listed enterprises mainly engaged in foreign trade and their operation.

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2. The market has entered the deep cultivation period

Furniture industry relies on labor dividend and real estate dividend to grow savagely. However, observing the business data in recent years, we will find that the whole industry has entered a period of slow growth. We can no longer expect a big dividend boom in real estate. There won't be another era where money can be made by the dividends and luck of the times. In the case of more and more "sub eaters" in the industry cake and no increase in market stock, furniture enterprises must rely on their strength to make money, lighten the company, save costs, reduce costs and increase efficiency in internal management, expand customers, refine business and open up new sources. When there will be no more upstream real estate explosion, the demand for primary decoration will be reduced. Far sighted home furnishing enterprises have been exploring the secondary decoration market and studying and sorting out the household demand of secondary decoration users.

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