Latest Interpretation of the Characteristics of Chinese Home Furnishings Consumers

The people born in the 1980s and the 1990s are the main groups in the decoration and home furnishing consumption market in China.

I. The people born in the 1980s and the 1990s are the main groups in the decoration and home furnishing consumption market in China.

 

According to the data, the people born in the 1980s (29–38 years old) are the main power of decoration and home furnishing groups, accounting for 51% in overall, and their main characteristics include that they pursue happiness and enjoy life, that they pay attention to the brand and fashion, that they reduce their attention to the relationship and emotion consumptions and that they may interpret the low-price products as “Low Level”.

 

As a new generation, the people born in the 1990s (19–28 years old) have the demands for the decoration and home furnishings, accounting for 33% in overall, and their main characteristics include preferring the online shopping, converting consumption feeling into consumption value, requiring the value emotion, boasting nature and symbol characteristics and surpassing the material value and use value of the commodities or services.

 

II. Home furnishing consumption of the people born in the 2000s is going to rise.

 

The people born in the 2000s will be the newly-rising decoration and home furnishing consumption market in the future 3–10 years. They tend to the brands with “Idea” and “Story”; thus, the brand positioning should be younger; the product research and development should be younger, and the marketing mode should be younger.

 

III. The new middle-class consumers’ new claims for the home furnishings.

 

The new middle-class consumers are the young people living in the first-tier and the second-tier cities, having the good living hardware and in the marriage and childbearing stage; they prefer the middle and high-end brands, like going to the high-level shopping malls for the offline consumptions and have the stronger consumption capacity.

 

For the home furnishing consumption, they pay attention to appearance, intelligence, environmental protection, cost performance and taste.

 

IV. The era of female economy rises.

 

According to the data, the male-female ratio in the decoration and home furnishing consumption is basically balanced, and the female consumers account for 51.31%, slightly higher than that of the male consumers.

 

In the furniture purchasing, the females’ TGI is higher, which is more significant in selecting and purchasing the furniture and the decoration ornaments; in the building material purchasing, the males’ TGI is higher, which is more significant in selecting and purchasing the main materials and decoration design. The females like the good-looking decoration and home furnishings with taste; meanwhile, they pay attention to the feelings of their families, and they show the relatively strong sense of family attachment.

 

V. Children, the old and the tenants may usher in the explosion point of the industry.

 

 

According to the data, “the Married Families” are an important structure of the decoration and home furnishing consumption groups. With the deepening implementation of the national “Second-child Policy”, there will be a lot of business opportunities in the future children’s decoration and home furnishing market in China. Additionally, the young people in the big cities such as Beijing, Shanghai, Guangzhou and Shenzhen cannot afford to buy a house, and the policy of “Safe Right for Rental and Sale” introduced by the state has driven the rise of the long-term rental market.

 

VI. China is entering the aging society gradually.

 

 

According to the statistics, it is expected by 2020, there will be 248,000,000 old people, and the aging level will reach 17.17%. The new generation of the old people presents four characteristics: having the certain consumption capacity (retirement pay and annuity), not living with their children, being more willing to consume for themselves, the transformation demands of the environment suitable for the old and the aging living environment.

 

 

(Source: JJgle.com)

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