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 2013, the Furniture Store industry has been growing at an annualized rate of 23.2% to $16.7 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 - Starting a New Business Chapter
Large-scale furniture retailing requires substantial initial investment to rent buildings to store and exhibit large amounts of furniture. Purchasing and transporting furniture also requires large sums of liquidity.
Competition among large retailers is still at a low level. This leaves opportunities for new players to enter. However, existing players will rapidly expand sales networks to suppress the growth of new competitors.
Supply and purchase relationships between retailers and suppliers are often well-established. Some large enterprise even own manufacturing companies. Leading enterprises in the industry have their own design and research centers to develop new products, which enhances relationships, as manufacturers rely on their orders and designs... purchase to read more