In 2014, the domestic furniture market experienced a rather lackluster year. Sales performance across the industry fell short of previous years, with many attributing the decline to the broader economic environment and, more specifically, the real estate sector's impact. During what is typically a peak season for furniture sales, the market remained sluggish, failing to meet expectations.
Despite ongoing promotions after major festivals, such as the National Day holiday, the home market remained relatively calm. A sales manager from a well-known brand noted that while foot traffic slightly increased compared to regular weekdays, actual transactions remained low, with overall sales still below those of previous years.
Industry insiders had anticipated this slow performance. One store manager shared that the National Day market was not as lively as in past years, and the situation had started to worsen even before the holiday. Sales during the Mid-Autumn Festival were significantly lower than the previous year, prompting early predictions that the National Day period would not bring much improvement.
After the Spring Festival, the furniture market saw a small rebound due to various promotional activities. However, by July, many merchants began to feel discouraged. Although summer is usually a peak season, stores remained quiet, with little customer traffic. Even the Mid-Autumn Festival did not bring significant changes, leading many to hope for a better National Day, which ultimately failed to deliver.
A key issue lies in the lack of innovation in promotional strategies. Some industry experts believe that rising raw material costs have pushed furniture prices higher, deterring potential buyers. Additionally, the prolonged promotion season and aggressive discounts from major retailers have led to consumer fatigue. As one furniture dealer explained, “With promotions happening every week, every month, and at any time, consumers don’t feel the need to wait for holiday sales anymore.â€
This repetitive approach to price-based marketing has lost its effectiveness over time. It’s not just about outdated methods, but also the fact that fewer new homes are being renovated this year, further dampening demand. With the property market showing signs of slowdown, the furniture industry continues to face challenges in finding new ways to attract customers and drive sales.
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