In the past three years, affected by the downturn in the real estate industry, the development environment of the home industry has become increasingly severe. With the lack of social and economic vitality, people's spending power is declining, how will the home industry respond? What challenges and opportunities will the home industry usher in? At the China Home Expo, authoritative experts have answered the questions one by one.

Change in a difficult situation

1. The downturn in the real estate market has increased the pressure on the home furnishing industry

Affected by the adjustment of the real estate market, the development environment of the home industry is becoming more and more severe. In the context of the continuous increase of the property market control policy, many consumers have changed their consumption concept of house purchase and decoration. Some consumers have shifted from buying new homes to buying second-hand houses or renting homes, and the demand for home decoration has been reduced.

2. The trend of consumption upgrading is obvious, and quality home furnishing is sought after

Despite the economic downturn, consumers are increasingly demanding home quality. In the context of consumption upgrading, consumers pay more attention to environmental protection, comfort and personalization of their homes. This means that only household products with high quality and personalized characteristics can stand out in the market.

Development trend: Seize new opportunities

1. Internet + home, open the era of intelligence

With the continuous development of Internet technology, the concept of Internet + home is gradually gaining popularity. Smart home, as a typical representative of Internet + home, is gradually becoming the new darling of the market. Through smart home devices, consumers can more easily manage family life and improve the quality of life. Therefore, smart home will become an important development direction of the future home industry.

2. Green environmental protection has become the mainstream, and healthy homes are popular

In recent years, people's awareness of environmental protection has increased, and the concept of green environmental protection has also received increasing attention in the household industry. The concept of health, environmental protection and sustainable development is gradually becoming the mainstream trend of the home industry. Consumers are more inclined to choose household products made of environmentally friendly materials, such as natural wood and bamboo products. At the same time, energy saving and emission reduction, green decoration and other concepts will also be widely used in the home industry.

3. The demand for customization is strong, and personalized home furnishing has become a new favorite

In the context of consumption upgrading, consumers' demand for home personalization is increasingly strong. They prefer to have a unique home style, reflecting their own taste and personality. Therefore, personalized, customized home products will become the new darling of the market. Home furnishing enterprises should seize this opportunity to launch more customized products with characteristics to meet the individual needs of consumers.

Coping strategy: innovation and change

In the face of the current situation and future development trends of the industry, home furnishing enterprises should actively adjust their strategies, innovate and change in order to respond to market challenges and seize opportunities. Here are some coping strategies:

1. Expand business areas and diversify development

In the downturn of the real estate market, home furnishing enterprises can expand their business areas and achieve diversified development. For example, you can get involved in smart home, custom furniture, soft decoration design and other fields to improve their market competitiveness. At the same time, it can also explore cooperation models with other related industries to achieve resource sharing and complementary advantages.

2. Improve product quality and service level

Under the trend of consumption upgrading, improving product quality and service level is the key for home furnishing enterprises to win the market. Home furnishing enterprises should pay attention to the development and design of products to improve the environmental protection, comfort and personalized characteristics of products. At the same time, we should also pay attention to the improvement of service level to provide consumers with better quality and more intimate shopping experience.

3. Strengthen brand building and marketing promotion

In the increasingly fierce market competition, it is particularly important to strengthen brand building and marketing promotion. Home furnishing enterprises should pay attention to the shaping and maintenance of brand image, improve brand awareness and reputation. At the same time, we should also strengthen marketing and promotion efforts, and use the Internet, social media and other channels to carry out all-round promotion and publicity online and offline.

If you want to learn more about the home furnishing industry, please visit the China Home Expo website for more information.

Source: Home decoration board elements

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