Industry Analysis & Industry Trends
The Furniture Store industry in China accounts for about one third 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 2016, the Furniture Store industry has been growing at an annualized rate of 15.2% to $24.0 billion.
Industry demand is driven by growth in China's housing market, the steady developing economy and furniture manufacturing and designing research and development. In 2011, the Chinese government began the construction of 10.0 million units of noncommercial residential housing (i.e.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
With annualized value added growth of 10.8% in the 10 years through 2021, the industry is in the growth phase of its life cycle. This is higher than China's GDP growth of about 6.5% 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 steadily, 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