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 wholesalers, department stores and direct sales from furniture manufacturing industries. In the five years through 2014, the Furniture Store industry has been growing at an annualized rate of 22.2% to $20.2 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 million units of non-commercial 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 SWOT Analysis Chapter
With annualized value added growth of 18.5% in the 10 years through 2019, the industry is in the growth phase of its life cycle. This is higher than China's GDP growth of about 7.3% over the same period.
The industry concentration level is still low and more firms are expected to enter the industry in future years. However, more acquisitions and mergers will also occur as smaller companies face difficulties competing with major ones.
As China's economy continues to grow at a rapid pace, the purchasing power of Chinese people will continue to increase. Additionally, housing expenditure is increasing, stimulating demand growth for new furniture... purchase to read more