At this stage, the penetration rate of my country's customized home furnishing market is relatively low, and there is still much room for improvement in category penetration and industry concentration. In addition, as the attention of high-luxury home furnishings continues to heat up, the mid-to-high-end market may become one of the focus areas of industry competition.
The fast-growing revenue of the customized home furnishing industry, the high-end market may become the focus of future competition
Benefiting from the effective prevention and control of the domestic epidemic and the restoration of decoration demand, customized home furnishing companies are working together in omni-channel, multi-brand, and all-category, and distributors, bulk, direct sales and other businesses have also ushered in a full-scale outbreak. Judging from the recently announced two key indicators of corporate revenue and net profit for custom home furnishing industry chain companies, both have achieved full-line growth in 2021Q1.
According to relevant statistics, Net profit increased faster than the same period last year. Among them, "normal operation this year", "business growth", "proper cost control"... and other reasons have become common keywords for the collectively faster growth of the company's net profit than revenue growth.
However, industry analysts pointed out that at this stage, my country's custom home furnishing market penetration rate is low, category penetration rate and industry concentration still have a lot of room for improvement. In addition, as the attention of high-luxury home furnishings continues to heat up, the mid-to-high-end market may become one of the focus areas of industry competition.
According to data, since 2019, my country’s per capita GDP has exceeded 10,000 U.S. dollars for two consecutive years, and the middle-income group has exceeded 400 million people. This means that attention to high-luxury homes will continue to rise, and families will continue to improve their quality of life. The demand for improved homes in the living environment will eventually explode. According to analysis, if my country's economy can maintain a growth rate of 6% in the future, my country's per capita GDP will reach US$20,000 in 11 years. Correspondingly, the market share of high-luxury home furnishings is expected to increase further.
Based on this development situation in the industry, We Xudong make good products that can stand the test of time, strive for perfection in every link, adopt unique production management, enhance the competitiveness of the industry, and achieve fast and efficient delivery. In order to guarantee the quality in all aspects and realize the integration and intelligentization of board cutting and edge banding, We introduced the industry-leading electronic cutting saws, automatic four-side edge banding lines, automatic drilling equipment, high-quality blister equipment, and established automatic production lines, which has laid a solid foundation for the development of the company. With its leading comprehensive strength, it has become a well-known brand in OEM industry.
