The first half of 2019, which is inseparable from the "trade war", has passed, and some new changes have occurred in the furniture industry.
Recalling the first half of the year, the following keywords can be included.
1
Order shortage
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This is the first half of the year, whether it is a brand enterprise or a small and medium-sized enterprise, who feels that orders are in short supply. The factory's annual rework time is delayed, the return rate of old employees has increased year-on-year, and workers' overtime has decreased. The previous "general labor shortage" has not appeared. Promotions are more frequent. There are only one source of various phenomena, that is, insufficient orders or only barely Maintain normal production and operation.
Affected by the internal and external environment of the trade war and the decline of the real estate dividend, the public's confidence in home consumption has decayed, and furniture companies' "order shortage" may become the norm.
2
Customized speed reduction
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In the first half of the year, for customized furniture companies, revenue felt pressure.
The first-quarter report of listed custom furniture companies shows that the general growth rate of enterprises is below 20%, and individual star companies have even experienced single-digit growth and negative growth. The growth rate of the entire industry has dropped sharply from the double-digit number of last year to single-digit. Looking back at the development of custom furniture over the years, revenue growth has experienced more than 100%, 60%, 40%, and now generally less than 20%. Consumers squeezed their money bags tightly, and the first-tier brand enterprises only dared to set the annual revenue growth rate at the preserving "2" prefix.
3
Growth rate
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Custom furniture companies generally began to lay out "complete installation" in 2018. This trillion-level market also attracted players from the real estate, ceramic building materials, decoration and other pan-furnishing industries.
From the beginning of the first year of "Full-Fashion" in 2018 to the present, one year has passed, and two companies have announced the results of the FCL: the first is Oupai. In 2018, Oupai ’s operating income exceeded 10 billion, of which The performance exceeded 350 million yuan; the second was Shangpin's home furnishing. Its package revenue increased from 2.28 million yuan in 2017 to 194 million yuan in 2018, with a growth rate of 8401.91%. Although the 194 million yuan installed is not a big part of the nearly 7 billion yuan of revenue for Shangpin Home Furnishing throughout the year, its growth rate is far beyond its main business of whole-house customization.
Based on the fact that the assembly business has not yet become the mainstream business of the enterprise, there are not many companies that announce the results of the assembly. However, according to the data of the two companies that announced the results, although the revenue of the assembly business is not large, but the growth rate is It is almost geometric growth, which also confirms the reason why the industry is optimistic about the whole assembly: once the assembly business is mature, its revenue growth will be multiples, it is a "big Mac" that can cover all big home categories "business.
In the first half of this year, the whole industry is still a hot topic in the industry, and the continued growth in performance should be expected.
4
Executive change
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In the first half of 2019, more than ten companies such as Red Star Macalline, Sofia, Gujia Home, Dongfang Yuhong, Holocaust, Wo Le Home Furnishing all have high-level personnel changes, involving more than 20 corporate senior management personnel, including many presidents or General manager. Some company executive changes can even be called "personnel earthquake", the number of executives affected is very large, it is simply "running away."
There are frequent changes of executives, although there are no shortage of personal career choices, internal job adjustments, and changes in company control rights, but most of them also reflect the pressure of business performance. From the perspective of the industry, the changes of a large number of executives also reflect the industry's prosperity index, which reflects the farewell of the furniture industry's rapid growth from the other side.
5
Big consumption
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Home sales are increasingly integrated into people's daily consumption scenarios.
In terms of stores, during the "June 18" period, the "Home of the official flagship store in the same city station" jointly built by Treasure House by Treasure House, through the "3D scene association shopping guide system" and other black technologies to achieve online and offline merchandise services, and then Together with Tmall and Alipay, they created a "ju second loan" with a loan time of less than 3 minutes and a maximum amount of up to 300,000 yuan, which brings convenience to consumers who decorate and buy furniture.
In terms of brand manufacturers, on the afternoon of June 4, Shangpin Zhaibiao issued an announcement to complete the registration of changes in industry and commerce. The changed business scope added new hot and cold drinks, snacks, bread, pastries, etc. The two major aspects of living are intended to develop in the direction of "big life".
6
New Chinese
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According to JD.com's "6 · 18" furniture battle report: The turnover of new Chinese-style furniture in the first 10 minutes of June 18 increased by 107% year-on-year. Consumption data show that the new Chinese furniture is deeply loved by younger consumer groups due to its profound aesthetic memory and cultural connotation.
Back in March this year, the trend vane of the 41st Dongguan Famous Furniture Exhibition, for the first time, it built all the first and second floors of Hall 1 into a new Chinese brand hall. With the continuous attention of Chinese people on traditional culture, new Chinese furniture has become a symbol of cultural self-recognition of contemporary people. Its "inheritance and innovation" concept is the truest spiritual portrayal of contemporary young people. When the self-confidence of the great powers returns to the hearts of this generation, young consumers' self-recognition and traditional culture make it easier for them to have a special affection for the new Chinese furniture.
7
Ten Billion "Struggle"
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On May 21, Minhua Holdings released its fiscal year 2019 performance announcement. Its revenue for the fiscal year 2019 (April 2018 to March 2019) was 9.912 billion yuan; the financial report showed that the European home furnishing in 2018 was 115.09 billion yuan. Ranked first in the furniture industry's revenue list, this is also the first home manufacturing company to enter the "10 billion club"; Gu Jiafu's 2018 revenue was 9.172 billion. In the first quarter of 2019, operating income overwhelmed Oupai Home Furnishing, ranking first in the revenue ranking of A-share home furnishing manufacturing companies.
It is foreseeable that the strong furniture company Hengqiang is expected to usher in three "10 billion giants" in 2019. The competition for the "top name" of the three tens of billions of companies will also be fierce.
From a market management perspective, in the first half of 2019, furniture companies, regardless of size, are struggling to survive.
"Survival of the panic" and "a sense of crisis" are tangible to all furniture heads: brand enterprises will also encounter growth bottlenecks, and executives under heavy performance are no longer infinite; SME bosses are worried about capital chains and orders Under normal conditions, ordinary workers began to worry about layoffs and unemployment.
However, the disaster lies on the blessing. The recession of the general environment is forcing companies and individuals to strengthen themselves, optimize their organizations, pursue higher levels of innovation and restructuring, and thus create new competitiveness, or a solid foundation for the industry to take off again.
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