According to the China Industrial Economic Information Network, the domestic and international real estate market sales and the national building materials home boom index BHI increased significantly, the traditional home season of home improvement, the furniture industry began to pick up. According to statistics, the furniture sector has risen 6.72% since the second quarter, with Sophia and Xilinmen rising more than 20%. According to industry insiders, 2013 will be the sales year of the furniture industry, and the custom furniture market will become the next growth point of the furniture industry.
Industry will reverse
The National Building Materials Home Furnishings Index BHI, jointly issued by the Circulation Industry Development Department of the Ministry of Commerce and the China Building Materials Circulation Association, was 107.94 in April 2013, an increase of 26.25% from the previous month and a decrease of 0.56% from the same period of the previous year, indicating a rebound in the industry.
As the largest downstream demand market for furniture, real estate has experienced a series of policy adjustments. Since the second half of 2012, the housing industry has just started to pick up the warmth and is coming out of the trough. In 2013, the first-quarter cities accumulated a total sales area of ​​15.49 million square meters in the first four months, a year-on-year growth rate of 66.74%; second-tier cities accumulated a total of 47.787 million square meters of sales, a year-on-year growth rate of 55.22%.
Comparing the growth rate of furniture production with the growth rate of residential pre-sale area, it is found that the sales of furniture products usually lag behind the real estate sales for 8-14 months. The furniture market in 2013 may duplicate the market of the 2012-2013 property market. The introduction of the new “National Five Articles†in March this year has led to the release of rigid demand for some houses in the short term. In particular, the volume of second-hand housing transactions in large cities has risen sharply, which will directly increase the demand for building materials and home furnishing in the second quarter.
Qin Zhanxue, vice president of China Building Materials Circulation Association, believes that the rising trend of BHI in April was affected by the seasonality of the renovation season and the release of rigid demand for real estate.
Galaxy Securities believes that the US real estate recovery has been sustained and stable since last year. Since furniture sales lag behind real estate transactions for 2-3 quarters, US domestic furniture companies and furniture chain stores have performed well this year. Domestically, Yihua Wood and Meike, which have relatively high exports to the United States, will also benefit.
Guosen Securities expects 2013 to be the year of reversal in the furniture industry. With the sharp recovery in the sales area of ​​commercial housing in the second half of 2012, it is expected that the boom in the domestic sales of furniture will increase significantly in the traditional peak season in the second half of 2013, and it is likely that demand will drive more than expected growth. Brand companies that have already completed production bases and sales channels across the country will benefit first from this round of economic reversal.
Customization will become a growth point
According to the statistics of authoritative organizations, the size of the domestic furniture market will reach one trillion yuan in 2013. Although the share of custom furniture accounted for only 10% of the overall furniture market in 2012, the market size of this 100 billion yuan may become another blue ocean that will drive the furniture market to flourish.
It is understood that the current custom home has two trends to lead this year's trend. One type is integrated home, which is also the so-called "big home" concept. In addition to providing conventional products, furniture manufacturers have extended the direction of cabinets, custom cloakrooms, storage cabinets and accessories, and building materials companies seem to be more inclined to propose the concept of whole house customization, that is, not only traditional doors, cabinets, Wardrobes, stairs (stairs decoration renderings), flooring, and more into the idea of ​​furniture, this is especially concentrated in the solid wood custom manufacturers.
The second category is technological intelligence. At present, the main competition in the custom furniture industry is concentrated on the custom closet. In order to stand out from the competition, some manufacturers choose the material differentiation strategy. Not only do the merchants take the lead in highlighting the “aluminum wardrobeâ€, which completely breaks the environmental protection standards of the furniture class E. Really create a zero-formaldehyde room; there are also many businesses that have launched a variety of materials revolutions such as PE new materials.
Furniture enterprises with outstanding brand building and rich forest resources deserve special attention
At present, domestic furniture companies are generally concentrated in the manufacturing process. The retail sales are mainly in the form of dealer-only stores, and the number of directly-operated stores is extremely small. As of the end of 2012, there were 6 Sofia direct-operated stores, 8 Yihua Wood, and 87 Meike shares. The “Shengxiang†floor of Daya Technology was mostly distributed by dealers. Meike has 87 existing stores, including 75 furniture stores and 12 homes. According to the plan, it is estimated that there will be 5 new furniture stores and 20 homes in 2013. In addition to the high-end “Meikemeijiaâ€, the company's wholly-owned subsidiary Schnadig's Caracole, composition, lauren brand and American private brand ART have successively opened, which has expanded the brand influence and created a multi-brand portfolio profit model. .
In November 2012, Beijing’s one-month trial of furniture trade-in was successfully concluded. Five pilot companies sold sales of 150 million yuan for old-for-new sales, and furniture trade-in sales accounted for 26.3% of the total sales of similar furniture. In view of this good market reaction, furniture companies from all over the world are eager to try. Recently, the Beijing Municipal Commission of Commerce announced that Beijing will continue to trade in furniture in 2013, the implementation time will be extended to six months, and the tender for furniture enterprises is underway. With the improvement of people's living standards, the demand for furniture replacement is becoming more and more prominent, and enterprises with strong brand advantages will benefit first.
In addition, due to the long-term structural short-term structure of China's forest resources, the dependence on foreign timber is high. Recently, timber import prices have risen and domestic demographic dividends have gradually dissipated, making furniture companies constantly threatened by rising costs throughout the industry chain. . Investors are advised to focus on the forestry-rich furniture enterprises represented by Yihua Wood. In addition to cooperation with timber suppliers in Southeast Asia, Russia, South America and some parts of China, Yihua Wood has established a production base of 100,000 mu of fast-growing and high-yield forest in Dapu County, and plans to acquire a commercial forest area of ​​about 20 in Luanchuan County, Jiangxi Province. Ten thousand mu of forest land, the proposed acquisition of 350,000 hectares of forest land in Gabon, will be officially transferred in 2013. It is expected that the self-sufficiency rate of forest trees will reach more than 70% in the future, and the impact of fluctuations in upstream timber prices on the company's earnings will gradually become smaller.
Source: China Furniture Network
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