Stimulated by the rigid demand for housing, since the beginning of this year, the building materials home economy index has reached a record high, and related companies are planning to raise prices to promote performance growth. At the end of the year and the beginning of the year, many leading companies involved in furniture, mattresses, sofas and other businesses are planning to raise prices. The main reasons include rising labor and raw material costs.

 

 

Labor costs have increased significantly

 

A person in charge of a well-known panel furniture manufacturer revealed that "the company plans to raise prices by the end of the month by about 20% to 30%," and the company will adjust prices at the end of the year, the most obvious this time. The brand recently launched preferential activities, on the one hand to encourage consumers to "hoard goods" to deal with price increases, on the other hand to prepare for the year-end impulse. Some brands indicated that they had price increase plans at the end of the year, ranging from 5% to 30%.

 

The company's price adjustment is not only based on the reasons for rising costs, but also considering the factors of brand positioning. Meike shares have achieved the expected results in terms of raw material procurement and price control. The purchase cost of raw materials this year has not risen but decreased. Compared with the price of raw materials, the pressure on the labor cost of the entire industry is more obvious. For this, the company has reduced the rise in labor costs through mechanization and automation.

 

Customized furniture prices increase

 

In addition to finished furniture , custom-made furniture such as on-site production also increased prices based on cost pressures.

 

"The increase in the cost of raw materials is not large, and the increase in labor prices is relatively obvious." Fang Jiangang, the design director of Shenzhen New Oriental Architectural Decoration Design Engineering Co., Ltd., told reporters that "the increase in raw materials this year is about 5% to 10% higher than the previous two years. Take the Weiye board as an example, the previous year was about 130 yuan per sheet, and this year it was about 140 yuan. In contrast, the artificial increase is relatively large. For small workers, the previous year was about 150 yuan per day, and now about 200 yuan per day The labor price of each type of work is rising, at least 20% to 30% compared to the previous year. "

 

It is expected that the price of on-site furniture production will continue to rise in 2014, because there are fewer and fewer carpenters with good technology, the younger generation of workers are more impetuous, and they want to do simple and fast work. They do not want to do it if it is a little difficult, and the quotation is relatively high.

 

Rigid demand remains strong

 

If cost pressures are used as a reason for price increases, then the continued boom in the furniture industry will make the related companies confident of raising prices. The Ministry of Commerce and the China Building Materials Circulation Association recently jointly released the National Building Materials Home Furnishing Index (BHI Index), which reached 123.22 points in October, a month-on-month increase of 0.55 points, a new high for the year.

 

In this regard, Li Yinlin, an analyst with GF Securities, said that the high operation of investment and sales data in the real estate market and the continuous rise in housing prices provide strong demand support for the downstream furniture industry. With the arrival of the traditional peak season in the building materials and home furnishing market, the BHI index once again surpassed market expectations.

 

Against the backdrop of a promising industry in the fourth quarter, leading companies are expected to benefit first. Some analysts pointed out that the overall concentration of the domestic furniture industry is still low, consumers have not yet formed a mature brand recognition, leading companies are expected to enjoy first-mover advantage.

 

Li Yinlin believes that the rigid demand for housing is still very strong. At the same time, "Golden Nine Silver Ten" is the traditional peak season for building materials and home furnishing. All businesses have spared no effort to discount sales. The double stacking effect caused the BHI index to rise. Turned into home improvement demand, the furniture market boom in the fourth quarter is expected.

 

Fang Jiangang also said that the market for home improvement and related industry chains this year was mainly supported by Gangneung.

 

He said: “It ’s still urgent to stay, and the market is still bleak compared to the peak season in previous years. As far as the current general environment is concerned, the level of consumption will also drop when the overall economy is weak. Home buyers are not in a hurry to renovate and move in, which also affects the performance of related industries to a certain extent. "(Editor: Peter)

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