A variety of reasons, such as raw material price increases, have caused furniture prices to rise

In recent months, a new wave of furniture price increases has been observed in major cities like Guangzhou and Shenzhen in the Pearl River Delta. This trend is driven by multiple factors, including rising raw material costs, reduced export tax rebates for furniture, and higher labor and sales expenses. As a result, prices for furniture items such as **beds**, **mattresses**, and **sofas** have seen significant hikes. Compared to the same period last year, the cost of raw materials and labor has increased by 10% to 30%, leading to higher ex-factory prices across different furniture categories. Many consumers have noticed that while retail prices haven't changed much, promotional discounts have become less frequent. "Since July, we've seen fewer deals and more stable pricing," one customer remarked. This shift reflects a broader industry move toward maintaining profit margins despite rising costs. From the manufacturer's perspective, the pressure to raise prices has become more pronounced. While last year’s price adjustments were subtle—often reflected in smaller discounts or fewer promotions—this year’s increases are more visible. In fact, the price of **wooden furniture** has risen by over 10% compared to the same period last year. Furniture makers in the Pearl River Delta are planning further price adjustments in September and October to cope with ongoing cost pressures, with expected increases of 10% to 15%. Wang Li, executive secretary general of the Dongguan Famous Furniture Club, noted that some smaller furniture companies have already shut down due to these challenges. Additionally, the implementation of the new “Labor Contract Law” in January has added to the burden, as companies must now provide five types of social insurance for employees, including pensions, unemployment, work injury, maternity, and medical coverage. This has significantly increased labor costs, squeezing already thin profit margins. Industry experts believe that wood shortages and rising material costs will continue to be key issues in the coming decade. Zhu Changling, vice chairman of the China Furniture Association, stated, “With limited resources and rising raw material prices, it's clear that furniture and household product prices will continue to increase in the future.” On the retail side, major furniture stores are working hard to absorb these rising costs. While ex-factory prices have gone up by 15% to 20%, retail prices have remained relatively stable. To attract customers, many stores have launched promotional campaigns, especially during the peak construction and renovation season in July and August. Some have also adopted mixed sales strategies to maintain stability and manage the impact of higher production costs. Large home furnishing chains have strict controls over product pricing and are actively preventing unfair practices like “artificially high prices + extreme discounts.” Any violations are swiftly addressed through penalties or bans. Overall, the furniture industry is navigating a challenging landscape, with rising costs pushing both manufacturers and retailers to adapt and find new ways to sustain their businesses.

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