Just when the whole house was custom-made all over the streets and alleys, the custom-made cabinets, the "old hero" category in the custom home, faced internal and external troubles, and was questioned.
From the scale and growth data, although the growth rate of the custom cabinet industry is higher than that of the home improvement market as a whole, the marginal slowdown trend continues to deepen. In 2018, the average revenue growth rate of customized cabinets of various enterprises was about 9.0%, which was further reduced in the first three quarters of this year. Moreover, the penetration rate of customized cabinets in my country is already around 60%, which will soon be equal to that of developed countries.
Putting the two sets of data together, one cannot help but ask: Is the market saturated? Is the cabinet industry going to a dead end? When will the next round of new opportunities open? Where is the growth point?
To answer this question, living room furniture manufacturers in china have to start with the current market structure, find pain points and tap opportunities.
At present, there are more than 1,000 domestic overall cabinet brands, and the market is highly fragmented. According to the first "2019 Top 50 Customized Home Furnishing Brand Value for Whole Houses" published in the November issue of "Manager", brands that make a fortune or their main business are based on market share, brand influence, product innovation, corporate culture, etc. The six dimensions can be roughly divided into four camps.
In addition to being well-known as a listed brand, it is also a national head enterprise that entered the professional cabinet field earlier and has strong comprehensive strength. Each has its own characteristics. It can be said that the "cabinet five heroes" have transformed China's custom cabinet industry from scratch, from 0 to 1, which has promoted the leap-forward development of the latter.
The second camp is a typical representative of "relying on a big tree to enjoy the cool". They are all sub-brands of household appliances, wardrobes, and home textiles. Although this camp entered the cabinet industry later, it relied on the strength of the original brand to successfully achieve cross-border penetration, and the growth rate was relatively fast. The dining room furniture manufacturers in china feels that there are great business opportunities behind it.
The third camp is regional strong brands. Although they have basically achieved a national layout, the main model is still regional deep cultivation, with strong local characteristics.
The fourth camp is a small and medium-sized cabinet brand. This camp wins with price advantages, but it generally has bottlenecks such as serious homogeneity and poor service experience. It is not included in the list due to its large number, small revenue base, and brand building stage.
"The troubled times call for heroes. It is this pattern of low concentration and big brand disputes that allows me to determine the opportunities behind it." The current pattern seems to be a quarter of the world, but in fact, the four camps are uneven, and the companies of each camp The comprehensive ranking of is constantly flowing, showing the degeneration of customized "changing" years everywhere.
Looking at the international cabinet industry, in 2015, the German and European cabinet industries had a CR5 of approximately 65% and 35%, respectively. In 2016, the US cabinet’s CR5 was approximately 50%, and Korean cabinet leader Hansen had a market share of more than 20% as early as 2013 . In contrast, the market share of leading companies in the cabinet industry in my country still has at least N2 times the space.
Industry insiders believe that as leading companies improve production, sales, and supply processes, and living room furniture manufacturers in china continue to improve their own management efficiency, competitive brand companies will most likely be able to enjoy The result of the final victory, it is even more difficult for small and medium-sized brands to overtake corners, and even a large number of inefficient companies will have to be forced out. This cruel law of the jungle is due to the economic laws in the process of industry centralization. It has become more and more obvious in the past two years, and no company or dealer in it can escape.
Large-scale flexible manufacturing largely solves the difficulty of personalization of customized products, so that the head customized cabinet companies have the basic conditions to cultivate a higher market share, and the realization of terminal high-quality and process-oriented services is what customized companies must overcome The next difficulty will also become a watershed for the new camp of customized enterprises. Manufacturers Enterprises with the above competitive advantages can further increase market share.
It is reported that in recent years, my country's leading cabinet companies have built their own core barriers in various ways to accelerate market expansion.
One countermeasure is to strengthen the strategy of "products decisively win the market". The dining room furniture manufacturers in china use unique design aesthetics to create a simple, light and luxurious life quality, and firmly lock in the aesthetics of urban middle-class and new middle-class groups Habits have become the design benchmark and popular trend of the industry.
The newly launched tenth-generation smart kitchen is hailed as another revolutionary masterpiece of Home since it pioneered the establishment of a new standard for "E0" cabinets. The tenth generation of smart kitchens redefines a new era of high-end kitchen life with the original patented middle cabinet system and intelligent lighting system, as well as the upgrade of the more humane and high-quality tenth generation cabinets.
And more companies respond to the same plan by agreement, it seems that they are all expanded categories, typical such as Europe’s distribution of Lida Home Furnishings, without exception, is to extend to multiple categories and accessories to accelerate market penetration.