In 2014, the domestic furniture market experienced a rather lackluster year. Sales figures fell short of expectations, and industry experts pointed to multiple factors behind the decline, with real estate being one of the main culprits. Even during traditional peak seasons, furniture sales remained sluggish, failing to meet anticipated levels.
The furniture market showed little sign of recovery throughout the year. Despite ongoing promotions after major festivals, such as in Guangzhou, the low-price offers failed to spark much interest. A sales manager from a well-known brand mentioned that while customer traffic increased slightly compared to regular days, actual transactions were minimal, and overall sales still lagged behind previous years.
Industry insiders had already anticipated this slow performance. The Golden Week period did not bring the usual boost, and even the Wang home market saw weak results. Merchants, however, seemed somewhat prepared for the downturn. One store manager noted that the National Day market was relatively quiet, lacking the excitement seen in past years. He added that the trend had started around the Mid-Autumn Festival, when sales dropped significantly compared to the previous year. At that time, they had already predicted that the National Day would not be much better.
After the Spring Festival, there was a small increase in activity due to various promotional campaigns. However, starting in July, things began to look more discouraging. Despite summer being a peak season, stores remained empty, and foot traffic was low. Even the Mid-Autumn Festival in September didn’t bring much change, leading many to hope for a better National Day, which ultimately fell short of expectations.
Some industry insiders believe that rising material costs have pushed furniture prices higher, deterring potential buyers. Although the promotion season this year was unusually long, with frequent discounts across major retailers, many merchants still struggled to meet their sales targets.
According to some analysts, the overuse of promotional activities has weakened the impact of holiday sales. A furniture dealer agreed, stating that constant promotions—weekly, monthly, and even daily—have made consumers less eager to wait for special events. This strategy of price cuts to drive sales is becoming less effective each year, not only due to outdated marketing tactics but also because of the declining demand from the real estate sector. With fewer new home renovations, the furniture market continues to face challenges.
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