Yiwu furniture market brand positioning high-end

The global economic crisis and local instability have significantly impacted the foreign trade of the domestic furniture industry. In response to these challenges, the Yiwu furniture market actively pursued brand development, improved its market environment, and explored opportunities in the domestic market. Last year, despite the overall difficulties in foreign trade, the Yiwu furniture market achieved an annual turnover of 1.012 billion yuan, with an average daily footfall of 815 people, of which around 30% were foreign investors. "The positioning of the furniture market is primarily aimed at Yiwu and its surrounding areas, focusing on retail within the domestic market. The share of foreign trade is relatively small," said Jin Yinghong, manager of the Yiwu Furniture Market Management Company. He explained that most foreign traders who come to Yiwu mainly purchase small quantities of furniture for their own use or to bring back to their countries. "The real wholesale furniture market is still concentrated in regions like Guangzhou." Rising prices of raw materials have forced many manufacturers to increase their product prices, squeezing the profit margins of furniture dealers. Additionally, rising labor and transportation costs have further reduced profitability. As a result, branding has become a key trend in the market. To attract high-end consumers from Yiwu and surrounding cities, the Yiwu furniture market focused on developing mid-to-high-end channels. Last year, it launched high-end furniture brand pavilions as a key initiative. Currently, the fourth floor of the market operates as an international furniture museum, featuring well-known brands such as Kafinda, Romantica, William Noble, and Mousse. Over the past four years, these international boutiques have gained popularity both domestically and internationally, drawing more global brands interested in entering the Yiwu market. Today, there are over 50 high-end furniture brands operating in the market. Solid wood furniture is increasingly favored by consumers due to its environmental friendliness, simplicity, durability, and sturdiness. The proportion of high-end solid wood furniture brands in the market has grown, now accounting for about 30% of the total brands. The Yiwu Furniture Market also plans to introduce branded solid wood furniture blocks in the classic furniture living hall on the third floor. With the rise of online shopping, the furniture industry has started to embrace e-commerce as a new promotional channel. In response, the Yiwu furniture market began constructing an online mall in April 2012. Through collaboration with professional teams, a 24-hour, 360-degree shopping mall was established. This platform allows consumers to explore all products and store layouts through 3D technology, offering an immersive browsing experience without the need for constant clicking. The online mall also addresses key issues such as poor user experience, logistics challenges, and conflicts between online and offline sales. By combining online shopping with physical showrooms, the process of buying furniture becomes more efficient and convenient.

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