Furniture Hardware will enter maturity in 2015

With the “Twelfth Five-Year Plan” countries shifting their economic strategy from export-oriented to domestic demand-led, and vigorously promoting the development of domestic trade, the furniture hardware industry should quickly adjust its strategy. While both “export” and “domestic demand” must be developed simultaneously, it is necessary to increase The development of the domestic market.

According to reports, China's furniture production capacity has accounted for 25% of the world's total, and it has become a truly first country in furniture manufacturing. In 1978, just after the reform and opening up, China’s furniture had a market of 1.3 billion yuan. Now the total amount has reached more than 7,000 billion yuan. According to the average growth rate of 22.2% in the past three decades, by 2015, the industry will reach a total output value of 2,430 billion yuan. Incomplete statistics, in 2009 the total retail sales of the entire society increased by 15.5% over the previous year, furniture industry over construction, decorative materials, car growth, the growth rate is 35.5%. In the first three quarters of 2010, total social retail consumption increased by 18.3%, of which the furniture industry contributed 38.4%, which is the fastest growing industry.

China's furniture hardware industry has experienced childishness and early growth in the past 30 years. Now it is in the middle of growth, and it will only enter mature growth period after 2015. During this period, the proportion of China's furniture exports accounted for about 22% of the world, of which the United States, the EU market, the country has more than 75% of exports. Relying on e-commerce, the furniture hardware industry has obtained new effective marketing models to meet the furniture needs of a large number of young people. For example, group purchase network, online shopping mall is the new e-commerce model in China in the past two years, and the home has moved to online direct sales and received good feedback.

Luo Baihui believes that with the development of the Internet of Things, mobile payment, and cloud computing, consumers will use resources more concisely and conveniently in the future. The future furniture industry will usher in greater opportunities for transformation and upgrading relying on the e-commerce industry.