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Business Analysis of the Furniture Industry
As leading custom furniture companies are entering a downward trajectory, the opportunities in the furniture industry are not diminishing but actually increasing. The furniture industry encompasses a wide range of categories, making it a vast and complex market.
In such a large market, companies that focus on a specific product category—supported by capital, talent, and innovative sales models—are more likely to succeed. The continuous emergence of new companies and successful players in the furniture industry is not because the industry is still in its infancy but rather due to the unique characteristics of the market itself.
The furniture industry is difficult to monopolize. Companies aiming to dominate the industry often disappear quickly because their goals contradict the natural dynamics of the market. On the contrary, smaller-scale furniture companies tend to thrive and appear more resilient to industry downturns.
By breaking away from traditional thinking and approaching the furniture industry from the broader perspective of home products and services, a fresh viewpoint emerges: People will always need furniture. While furniture styles will continually evolve, the fundamental demand for furniture remains unchanged. Success comes from providing furniture that best suits the tastes of contemporary consumers—a market principle that remains effective today.
Whether it’s the impact of subsidies on the market, the decline in the market share of custom furniture, or the rise of metal furniture, the underlying demand for furniture remains constant. Moreover, consumers’ desire for a certain level of prestige in their furniture choices persists.
By producing furniture based on fundamental demand and catering to consumers’ moderate sense of vanity, new market opportunities can be found. Therefore, it can be asserted that the faster the market changes, the more opportunities arise. The furniture industry, with its complexity and diversity, is never short of opportunities—and this remains true today.
