Furniture market forecast for 2018, sales revenue will break 300 billion

The database of the China Industrial Research Institute shows that the production and sales rate of the national furniture manufacturing industry in January-April 2018 was 98.2%, year-on-year. The decrease was 0.1%; the export delivery value was 56.22 billion yuan, a cumulative increase of 1.2%. In the month of April, the furniture manufacturing and sales rate was 97.8%, down 0.4% year-on-year; the export delivery value was 14.59 billion yuan, up 1.3% year-on-year. From the perspective of economic benefits, from January to April, the main business income of the furniture manufacturing industry was 254.24 billion yuan, a cumulative increase of 7.6% year-on-year; the total profit was 13.62 billion yuan, a cumulative year-on-year decrease of 0.5%.

In addition, in 2012-2016, the sales revenue of China’s furniture and home accessories industry is from 160.4 billion yuan increased to 278.1 billion yuan, with a compound annual growth rate of about 14.7%. It is estimated that the sales revenue of China’s furniture and home accessories industry will break 300 billion yuan in 2018, reaching 321.8 billion yuan.

Data source: China Business Research Institute database

2012-2016, subject to Thanks to the strong growth of China’s economy and the acceleration of urbanization, the furniture and home accessories industry has developed steadily. China’s urbanization rate has increased from 52.6% in 2012 to 58.5% in 2017, with a compound annual growth rate of about 2.2%. The rural population has migrated to cities and towns on a large scale, which in turn has pushed up demand for furniture and home accessories. It is expected that the Chinese furniture and home accessories industry is expected to benefit from continued urbanization and the prosperity of the real estate market and continue to grow.

It’s worth noting that as people’s consumer demand begins to mimic Wave consumption has shifted to diversified and rational consumption, and the entire consumer body has paid more and more attention to the pursuit of a better quality of life. The demand for high-end furniture, personalized and customized furniture is gradually increasing, the consumption cycle of furniture is gradually shortening, the cultural content of furniture is gradually increasing, consumers are increasingly pursuing brand and quality, intelligent, refined, diversified and personalized. Become the mainstream of the market.

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