Where will the hard hit home furnishing industry go?

Under the continuous multi-point outbreak of the epidemic, the home furnishing industry has been greatly impacted. According to the data released by the National Bureau of statistics, in the first four months, the national retail sales of furniture commodities were 45billion yuan, a year-on-year decrease of 8.9%. In April, the retail sales of construction and decoration materials decreased by 11.7% year-on-year. The whole household sector showed a sharp decline.

The survey results show that in some areas, 80% of furniture enterprises' sales fell year-on-year, and 20.6% of enterprises whose sales fell by more than half; 70% of enterprises' cash flow can last for three months at most, and 17.1% of enterprises' cash flow can last for one month.

In addition, repeated epidemics have led to the postponement or cancellation of hundreds of exhibitions. At the same time, it has also led to the obstruction of logistics and unlimited amplification of the impact on the furniture industry.

As an important industry carrying people's livelihood consumption and a large number of jobs, where will the home furnishing industry go?

First of all, we should look at the home furnishing industry from a longer-term perspective and have confidence. At present, the growth of the consumer market is restrained to some extent. However, it should be noted that the expansion of consumption scale and the upgrading of consumption structure have not changed, and traditional consumption is still the "pillar" of consumption.

Secondly, we should create a distribution channel with different levels and modes, and strengthen the industry chassis. From the perspective of urban and rural consumption, rural consumption is still a "blue ocean". In 2021, the retail sales of rural consumer goods accounted for only 13.4% of the total retail sales of social consumer goods, which has great development potential.

Thirdly, don't get lost in the trend of live broadcast with goods. Online marketing can help household enterprises lock customers, but it's too early to say that it is to subvert the traditional household sales channel. The main service experience of the home furnishing industry is offline. Among all consumer industries, home furnishing is an industry with slow penetration of e-commerce.

On the whole, the digital achievements of the home furnishing industry are less significant, because for consumers, the shopping experience of the home furnishing industry is very important, and its marketing relies on offline physical space.

Finally, no matter how the market environment changes, household enterprises should cultivate their internal skills. We need to firmly promote product upgrading, make efforts in safety, intelligence and green, and meet people's deep-seated needs for good quality.