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Brand pattern adjustment is imminent, the custom cabinet industry will stage the 'rule of the jungle'

by:Hench Hardware     2021-09-06
In 2017, my country's home furnishing building materials industry is still operating under the new normal, but the custom home furnishing industry such as cabinets has become a bright spot in the overall industry with its dazzling performance. Nowadays, the custom home furnishing market, including the cabinet industry, is in a growth period and still has a large room for growth. However, with the intensified market competition, the 'rule of the jungle' of the survival of the fittest in nature and the strongest of the weak will also be staged in the custom cabinet industry.


   Custom home furnishing industry with star halo


   In the home building materials industry, the custom home furnishing industry represented by cabinets and wardrobes is enjoying star-like glory. The rapid growth of performance makes the 'happiness index' of the custom home furnishing industry higher than most household subdivisions, regardless of Both companies and market research institutions are generally optimistic about the development prospects of the custom home furnishing industry.


   However, the current custom home furnishing industry is not a peaceful and prosperous era. The industry is staged a scene of the “rule of the jungle” scene of the weak and the strong. The market share is gradually concentrated on leading companies, especially those in terms of capital, channels, brand influence, etc. The powerful integrated cabinet category giants are constantly eroding the market pie, and the market structure of the custom home furnishing industry is still full of variables in the future.


   Looking at the overall industry trend, cabinet companies are generally optimistic about the development prospects of the customized market. Driven by the upgrading of market consumption, the upgrading and upgrading of customized home furnishing products has become the 'main theme' of the industry's development. The industry believes that consumers' higher requirements for product quality and functions will promote the upgrading of the structure of customized home furnishing products, which is a good thing for the customized home furnishing industry. As far as the cabinet industry is concerned, consumption upgrades and product structure changes particularly require corporate attention. No matter how the market changes, consumers will be willing to buy distinctive products from outstanding companies.


   Market competition has intensified, brand structure adjustment is imminent


   In the face of the continuously heating up market and the foreseeable growth potential, various cabinet companies are vigorously deploying customized home furnishing business. It can be seen that the competition for customized cakes by cabinet companies will become increasingly fierce. According to relevant data, in the customized home furnishing market, market share is gradually concentrated to leading companies, traditional strong brands still maintain a relatively high market share, and the market brand concentration continues to increase. The industry predicts that high brand concentration will increase market pressure and may cause the acceleration of brand adjustments in the entire industry of customized home furnishings. Beginning in 2017, the entire industry will begin to enter the stage of increased market pressure, increased competition, accelerated product structure adjustment, and market segmentation.


   In fact, the custom home furnishing industry is also facing some negative factors: my country’s macroeconomic environment has not improved significantly, the real estate market has ushered in the continuous increase of national regulation after the short boom, and the price of raw materials has fallen, but still Higher than the same period last year. In addition, with the changes in the market environment, the impact of industry giants and the increase in market access barriers, the custom home furnishing industry will inevitably usher in the adjustment of the brand pattern, and the living space of small and medium-sized brands will be threatened.


   At present, the customized home furnishing market is basically finalized. Big brands are in an absolute leading position in the market, and the living space of other brands will become smaller and smaller. In the context of increasingly homogenized products, small and medium brands can only take the route of product differentiation and make their own characteristics in terms of functional selling points and appearance if they want to compete with large brands. Some cabinet merchants also said that small and medium-sized enterprises are more to improve their technical strength and product quality to resist risks. Of course, as a customized household product, the level and network of its installation and after-sales service are also very critical. The ability to provide users with timely, reliable and safe installation and after-sales service is also one of the key contents of the experience for consumers.


  The adjustment of the brand pattern of the customized home furnishing industry is imminent. For every market participant, such a competitive situation will not only test the overall strength of the cabinet company, but also test the company's ability to respond to market changes and the wisdom of managing risks.
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