Industry Analysis & Industry Trends
The Furniture Store industry in China accounts for about 34.0% of total revenue from China's furniture sector. The remaining sales are generated by other industries, such as furniture wholesaling, department stores and direct sales from furniture manufacturing. Over the five years to 2015, the Furniture Store industry has been growing at an annualized rate of 18.1% to $21.8 billion.
Industry demand is driven by growth in China's housing market and the rapidly developing economy. In 2011, the Chinese government began the construction of 10.0 million units of noncommercial residential housing (i.e. indemnificatory houses) to further improve the living standards of medium- and low-income families and promote the healthy development of the real estate market.... purchase to read more
Industry Report - Industry Key Buyers Chapter
The industry concentration level is medium as a result of online furniture stores development, with the top four firms –Macalline, Easyhome, Yuexing Group and IKEA – accounting for an estimated 68.3% of industry revenue in 2015.
High-end furniture retailing requires a large investment to commence operations. Therefore, larger firms in the industry usually have to expand slowly to ensure sufficient available funds. In 2014, many large firms had acquired small to medium furniture firms to enlarge their scale and market share, while small furniture stores gradually exited the market due to higher industry standards and less capacity to confront with market changes... purchase to read more