In the first quarter, the home market was slightly bland, and the theme of "health" was concerned.
Tree-hugging lamp Tree-hugging lamp SHENGYA LIGHTING TECHNOLOGY CO., LTD. , https://www.syalighting.com
As March begins, the home furnishings market sees a surge in exhibitions and promotional activities, but compared to the same period last year, the growth remains relatively flat. Entering April 2014, the first quarter of the year has passed, marking the initial peak for the home furnishing industry this year. Company leaders from furniture stores, home improvement firms, and manufacturers report that their first-quarter output is roughly similar to the previous year. With fewer new housing units entering the market, maintaining existing channels and deepening customer relationships have become key strategies to drive consumption.
Experts predict that after May, as more new homes hit the market, the home furnishings sector may see a gradual increase in activity. Recently, the Ministry of Commerce's Department of Circulation Industry Development and the China Building Materials Circulation Association released the National Building Materials Home Furnishing Boom Index (BHI) for February. The data shows that sales at large-scale building materials and home furnishing stores reached 63.9 billion yuan, a 12.91% drop from the previous month. Cumulative sales for January and February totaled 137.6 billion yuan, representing a 2.45% year-on-year decline.
Compared to the 73.4 billion yuan in sales recorded in January, the BHI data suggests that the home furnishings market may continue to decline throughout 2014. Qin Zhanxue, executive vice chairman of the China Building Materials Circulation Association, noted that the real estate environment is affected by seasonal trends. Although house prices remained stable in January and February, the building materials and home furnishing market was impacted. The average price of newly built residential properties was 10,960 yuan per square meter, up 0.09% from the previous month, influenced by tighter lending policies and some cities adjusting prices downward. This led to increased buyer hesitation, causing further frustration in the market.
Additionally, many major building materials and home furnishing markets were still in the Spring Festival atmosphere in early February, with delayed openings post-holiday, leading to lower sales in both January and February. Although the BHI index for March hasn't been officially released, Qin believes there won't be a significant improvement this month. He notes that while March marks the start of the home furnishing peak season, it hasn't yet reached its peak. However, he cautions that the overall market outlook remains cautious.
Beijing’s home furnishings market saw modest growth in the first quarter, with most store sales and brand performance remaining flat compared to the same period last year. The "3·15" event in March brought continued holiday-related spending, and industry insiders noted a rise in demand for solid wood products emphasizing health, environmental protection, and style. Under the "just-needed" consumer trend, renovating old homes, purchasing eco-friendly products, and seeking quality have become central themes in 2014.
According to analysts, the home furnishings market, which has long relied on promotions, has seen a shift this year. While price wars have decreased, marketing efforts have become more creative. For example, House of Actuality launched a “WeChat Red Packet Engagement†campaign in February, and Bologna hosted the “7 Series Overall Home Improvement†event, promoting an environmentally friendly concept. Wang Ningning, deputy manager of the home industry, emphasized that transparent pricing policies are making product costs more visible, and price competition is no longer the best strategy. Instead, engaging marketing activities add fun to shopping experiences, helping brands stand out through service and unique features.
Zhu Changling, chairman of the China Furniture Association, highlighted that the latest Guangzhou and Shenzhen Furniture Fairs showcased new trends in Chinese-made furniture—design, technology, and smart innovation. He explained that the emergence of new technologies and materials signals the industry's direction for 2014. Merchants are increasingly focusing on environmental protection, not only in product design but also in production efficiency and sustainability. Industry upgrades will define the future development path of the furniture sector.