The United States has also anti-dumping. China's built-in spring furniture has begun to face a series of investigations. It is more important than ever to understand the US market and recognize the self-environment. This is because globalization has made the world smaller and smaller. From 1992 to 2006, the number of imported furniture and bed furniture in the United States increased by 479%. During this period, the US furniture and bed retail market grew by only 117%, showing that most of the furniture purchased by consumers is imported.
We discuss separately by product category and regional category: 1. Product category table 1. Growth of imported furniture in the United States from 1992 to 2006
In the United States, it is difficult to accurately calculate how many products are made in the United States and how many are imported. Because as long as there is a little processing, even if you screw a screw, it has added value, even if it is made in China.
The finished wooden furniture was imported into the United States, which increased by 481% from 1992 to 2006, from 1.7 billion to 9.8 billion last year, accounting for 51% of the US domestic consumer market. During this period, bedroom furniture imports increased by 939%, kitchens and dining tables and chairs increased by 403%.
Table 2. Imports of solid wood furniture worth US$1 billion The fastest growth in imports in recent years is the soft-bag sofa, which increased by 662% from 1992 to 2006, from 500 million to 3.7 billion, especially during the 7-8 years from 1992 to 2006. Imports have more than doubled, from 11.2% of the market share to 24.2%.
Table 3. Soft bag sofa imports
Imports of $1 billion mattresses have just begun, but the momentum is very strong. It started in 2000, importing 300 million US dollars, accounting for 1.6% of the market, and reached 800 million US dollars last year, accounting for 4% of the market. In the past few years, the growth rate has reached 164%. In the next few years, the growth rate will accelerate.
Table 4. Main product categories of the top ten importing countries/regions in 2006 2. Imported regions During the period from 1992 to 2006, the transformation of importing regions was shocking – Asia-Pacific region: the share of US imports increased from 45%. To 69%, in 1992, no country or region accounted for one-third of total US imports. At that time, Taiwan was the largest, accounting for only 29% of total imports. But today's China has accounted for more than half of the total US imports. However, in 1992, although China was already the top ten importer of the United States, it only accounted for 6%.
--- Canada: In the past, Canada has always been the most important supplier of American furniture. In the past two years, it has decreased somewhat, from 12% of total imports to 10%.
--- Vietnam: Last year rose to fifth place. In 1992, there was nothing at all.
--- Europe: Europe used to account for 20% of total US imports, and has now fallen to 9%.
--- Latin America: Also retains 8% of total US imports.
Table V. 2006 US Top Ten Importing Countries/Family A Units: Millions of US Dollars B Importing Pros and Conss Since the US furniture imports have quadrupled over the past 15 years, the retail price of furniture has only been 15 years. An increase of 5% cannot be denied thanks to cheap imported furniture.
Table 6. Retail, price and import In the past 15 years, the growth of furniture retail has been basically the same as other commodities, with a growth of 117% (118% of other commodities), but all other commodities in the consumer price have increased by 44%. 5%, this is because during this period, the import of furniture increased by 479%, a large number of cheap and good furniture imports, inhibiting prices.
Although a large number of imports will also bring problems to American society, for example, causing some American workers to reduce working hours or even unemployment, the actual situation may not be as serious as the media advocated.
Table 7. US Wood Products Industry Workers Source: US Customs, US Department of Commerce 1992-1997, during which time the number of working hours and employment of American furniture workers increased. During this period, working hours increased by 5%, and the number of employed people increased by 3.7%. By 2002, the number of working hours and employment was reduced. Working hours decreased by 9% and employment decreased by 10%. The data for 2006 has not yet come out, I believe it will be reduced more. However, this reduction may have three conditions: --- affected by imported furniture, factory closures; --- no new workers can be found, young people in the United States are less willing to enter the furniture industry, they yearn for high wages such as IT, good working environment The industry; --- transferred to the industry, older workers, transferred to the service industry, engaged in more relaxed work.
The furniture industry is in the midst of change
The furniture retail chain stores in the United States are changing due to the impact of globalization. More and more big brands and century-old stores can't stand the impact of this wave.
In October this year, the famous retail chain Bombay Company (BombayCompany) also declared bankruptcy.
When they were the most brilliant in 2003, they had a turnover of $600 million and a profit of more than $9 million. After 2004, it will not work. Although the turnover has not dropped much, it has lost more than $12 million. By 2006, the loss had reached 53 million and it finally closed down. The 50 chain stores in Canada were taken over by local Bowring and Benix, while the 384 stores in the United States are currently being sold, followed by HilcoMerchant Resources and Gordon Bros.
The retail group that specializes in shopping malls has finally come to an end.
Another famous Pennsylvania store, originally owned by La-Z-Boy, is also sold to Huanmei Furniture.
Huanmei Furniture is China's Taisheng Furniture. They only bought the brand of the Pennsylvania Furniture Chain Store for US$1.65 million. In 2000, La-Z-Boy bought this for 238 million. company's.
Huanmei only bought the brand, did not want their inventory, fixed assets and so on. I think this is a very clever way. Unlike BenQ Computer, I bought Siemens. In just one year, I lost more than 30 billion Taiwan dollars (80 billion yuan) and made myself miserable.
Therefore, Taisheng not only has the beauty of the United States, with LegacyClas-sic, with Craftmaster, and Pennsylvania House, there are four end market brands in the United States.
This is the best way for global Chinese manufacturers. It took the Japanese for decades or even hundreds of years to establish brands such as Mitsubishi, Sanyo, Sony, etc. For a longer time, Americans used the 120-year-old Pennsylvania furniture store brand, but in a few short years, we only spent more than a million dollars to buy it. We own and operate according to our own strengths.
Here, I also shouted for self-built brands, thinking that the brand is a life-saving elixir, a living lesson, a hundred-year brand can not save a problematic company, as long as the strategy is wrong one or two steps, it will still face bankruptcy The bad luck, the brand is just a icing on the cake.
Survival of the fittest
In the midst of change, there are companies that have sprung up, such as Ashley in the US, RoomstoGo, Taisheng in China's solid wood furniture factory, and Gujia craft in the sofa factory, but also Huadali, a sofa manufacturer, listed in Singapore in the past few years, with annual profit. Tens of millions of yuan, even attracted Morgan Stanley investment holdings, but in the third quarter of last year, only a loss of 20 million yuan in the first quarter, Italy's famous sofa manufacturer Natuzzi, a loss of 12 million US dollars in the first half of last year, Business fell by 17.6%, sales units decreased by 18.9%, and in the first half of 2006, the company also earned more than $20 million.
Why is this so? Natuzzi CEO ErnestoGreco believes that it is caused by fierce price competition and lower consumer confidence.
He said that there is something right and wrong.
The fierce competition in the market is a fact, especially in the US market, where prices become very sensitive due to factors such as material prices, wage increases, exchange rate adjustments and so on. China also has large sofa factories shrinking, suspending production, and even closing down, but there are still waters.
Maybe he has to ask himself: --- Why is the cost high? --- Have you taken some contingency measures? ——— Has the market and customer requirements changed? ———How do competitors do it? He said that consumers' lower confidence should refer to the US market, but Natuzzi sells the world, not just selling the United States.
"...the root cause of all crises is not mismanagement...
The crux of the matter is that the underlying assumptions that are established and operated by an organization are no longer suitable for today's reality. â€
———Peter Drucker Our expert writer Lin Zuoxin
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