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 Key Buyers Chapter
The industry has a low concentration level, with the top four firms – Ikea, Yuexing Group, Kinhom Group, and Shenzen HoBa Home Furnishings – accounting for an estimated 19.9% of industry revenue in 2014.
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.
On the contrary, low-end retailers, especially those that rent in furniture supermarkets, require lower capital requirements, and can easily enter and exit the industry. As small firms operate across a wide geographic range and offer low prices, they account for a large part of the industry... purchase to read more