Domestic mattress sales are growing. Where is the consumer trend going?
In 2016, China's mattress industry enterprises above designated size sold a total of 59.36 million mattresses, achieving sales revenue of 4.671 billion yuan. In 2017, sales volume was 66.25 million, with sales revenue reaching 53.3 billion yuan.
Consumption trends of domestic mattresses
After years of development, China's mattress industry has gradually entered the right track, internationally renowned mattress brands have been expanding their efforts in the Chinese market, and competition in the domestic market has become fierce. Today, design and development, branding, and marketing have become the troika driving the core competitiveness of mattress companies. Enterprises that achieve differentiation and specialization in the three major elements of design and development, branding, and marketing will be able to quickly gain a competitive advantage and enhance their market position. In the next few years, the consumption of the domestic mattress industry will show the following trends:
Consumption Trend 1: Cognitive and Revenue Growth Accelerate Mattress Consumption Frequency
In the United States, mattresses are used as consumables, with an average service life of 2-3 years. Households with economic conditions replace new mattresses every year. In China, a survey on the "time of use of mattresses" shows that 19% of the products are used for more than 10 years, 2-% are used for 5-10 years, 19% are used for 3-5 years, 5 -10 years accounted for 29%, 3-5 years accounted for 19%.
Among them, 41% said they had never changed their mattresses, and 50% said they would "change them unless they are broken." According to statistics from the National Bureau of Statistics, from 2006 to 2017, the per capita disposable income of urban residents in China increased from 11,759 yuan to 36,396 yuan, with a compound annual growth rate of 10.82%;
The per capita net income of rural households in China has increased from 3587 yuan to 13,432 yuan, with a compound annual growth rate of 12.75%. The continued growth of national income has laid a good foundation for the development of the mattress consumer market. The demand for consumption upgrading resulting from the improvement of the quality of national life and the improvement of living standards have led to more and more perceptual requirements for sleeping environment, quality and appearance of mattresses. The upgrading of mattress production technology has met the needs of various populations This speeds up the frequency of mattress changes.
Consumption Trend 2: Changes in Consumption Habits and Preferences Lead Consumer Trends
With the increase of China's national income and changes in consumption concepts, people's preferences for mattresses are constantly changing. China's mattress companies are experiencing a shift from a manufacturing standard to a customer standard. In this process, companies that can be market-oriented and accurately grasp customer needs are bound to lead the consumer trend in the mattress market. Specifically, the public's consumer preferences for mattresses have the following trends:
Consumption Trend Three: Purchasing Power Further Tends to Famous Mattress Brands
For a long time, there are many mattress companies, but the homogeneity of products is serious. Consumers choose mattresses to be price-oriented. Enterprise competition often appears in the form of price wars. With the continuous improvement of the income level of urban and rural residents and the acceleration of the pace of furniture replacement, the "brand consumption concept" gradually became popular, the brand effect gradually emerged, and the purchasing power was further concentrated in famous brands. The birth of Xilinmen, Suibao, Yalan, and Shenai, a number of famous Chinese mattress products, heralded the changes in the competitive factors of mattress companies.
Committed to independent brand building and establishing a good brand image has gradually become a magic weapon for furniture companies to win the market. The strategic focus of large enterprises will focus on product research and development, brand packaging, etc., and their competitiveness will become more prominent. Enterprises with poor brand image and limited technical and financial strength will become increasingly disadvantaged in the competition.
Title: Domestic Mattress Sales Increase, Where Will the Consumption Trend Close? Address: http://e-kiwin.com/xw/527.html
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