Mahogany furniture: the downturn is the norm, the low end is the trend
Summarizing the mahogany market in the first half of the year, the word "low" has become the main synonym. Enterprises have complained that the market is bad and business is difficult to do; the store is often empty, and even the clerk joked: "It's too quiet, and going out is afraid of haunting."
Although it is a joke, it speaks the current situation of the mahogany market in the first half of the year. A few days ago, the China Redwood Committee released the National Redwood Products Market Prosperity Index report, except for the slight rebound in the index in May, other months are falling, while the market sentiment index fell 4.4% in the first half of the year, down 24.7% compared with the same period last year. It is really worrying.
Today's mahogany industry still belongs to the traditional primary manufacturing industry. The level of technical equipment is low, and the dependence on raw materials is very obvious. To some extent, the price of raw materials directly affects the price of finished furniture. In the past few years, the development of the mahogany market was fierce, and the trend of buyers “buy up and not buy down†was obvious, which in turn produced huge room for consumer demand.
After 2013, the prosperity of the mahogany market attracted a large amount of hot money to enter, further pushing up the price of redwood raw materials. In addition, in recent years, labor expenditures, retail rents, and transportation costs have all risen, causing most companies to call “can’t eatâ€. However, with the deepening of the mahogany market, the massive withdrawal of hot money caused market shocks, the price of raw materials for rosewood began to fall sharply, and the profit of redwood enterprises was further compressed.
The Chinese economy has entered a new normal and the economic growth rate has slowed down. Therefore, it can be said that whether it is external conditions or internal factors, the word "downturn" has become the norm in the industry.
However, the recent turmoil in the international mahogany market, especially the case of Burma’s heavy conviction of lumberjacks, has made consumers gradually realize that the raw materials are hard-won and the wait-and-see attitude has declined. At the same time, the Chinese Redwood Committee also said: Recently, due to some deepening reforms of the country. Measures to make the real estate market positive factors continue, although the role of the high-end consumer market is not obvious, but it has a positive effect on the low-end market. Therefore, the development of low-end mahogany products, price-for-money will become a strategy for enterprises to compete in the market for a long time in the future.
In the process of interviewing enterprises, the reporter also confirmed this point of view. Many brand companies such as CITIC Redwood and Lai Yunda have launched a series of products based on Hedgehog rosewood, and increased the proportion of low-end materials. To actively respond to the depressed market, it is worth learning. It is worth mentioning that, in recent times, the prices of raw materials such as Burmese rosewood have increased slightly; and because the production cycle of mahogany furniture is generally 3 to 5 months, the furniture made from the materials purchased at the “high price†last year. Will also be launched one after another, the price of mahogany furniture is about to start to rise.
Jinjiuyin 10, will not only enter the traditional sales season of the mahogany industry, but also will welcome the exhibition season: Dongguan Famous Furniture Exhibition, Shenzhen International Furniture Exhibition, Dongyang Redwood Furniture Dealer Conference, the 5th (2015) Chinese-style mahogany furniture leaders summit, etc. Both will directly expand the redwood industry to bring new vitality and vitality, and directly expand the influence and popularity of the industry. Therefore, companies need to seize opportunities and win challenges.
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