Still a hit in 2021! Panel furniture remains at the top of Amazon BSR list

After experiencing a counter-trend rise in 2020, furniture exports continued to have a good start in the first quarter of 2021 .

According to the export data released by the General Administration of Customs of China from January to February 2021 , the total export value of furniture and parts reached US$11.018 billion, an increase of 81.7% year-on-year from 2020 and 33.9% year-on-year from 2019, once again confirming that the growth trend of home exports remains strong .

Revenue of leading panel furniture export companies

Whether in the United States or other regions such as Europe and Southeast Asia, due to the impact of the epidemic since 2020, local basic production and supply have been in a state of "supply interruption".

As the country with the most complete supply chain in the world, China contributes 39% of the global furniture production . The supply of panel furniture from mainland China is extremely competitive globally .

Taking Huisen Home Furnishing, the leading exporter of panel furniture, as an example , the data from the 2020 annual performance report recently released by Huisen Home Furnishing showed that as of December 31, 2020, Huisen Home Furnishing achieved revenue of approximately RMB 3.896 billion, a year-on-year increase of approximately 4.7%, and realized a net profit of RMB 541 million.

Panel furniture, as Huisen Home Furnishing's flagship product, contributed 3.606 billion yuan in single revenue, an increase of approximately 3.5% year-on-year.

In fact, as a leading exporter of panel furniture, Huisen Home Furnishing’s first financial report after its listing in December 2020 continued its past growth trend, which was also within market expectations.

Panel furniture dominates the list

Unlike China, which advocates solid wood furniture, panel furniture occupies half of the European and American furniture market.

With its simple product structure, convenient disassembly and transportation , rich and diverse colors and styles, it can meet the needs of different consumer groups and is more suitable for European and American consumers who often move. Panel furniture has always been a frequent visitor to the best-selling lists of foreign e-commerce platforms.

Image source: Amazon US

Taking the living room dining table set as an example, among the top ten Amazon Best Sellers list on Amazon US , minimalist-style panel table and chair sets almost dominate the list.

Among them, many hot-selling products are from the same store, and many products on the list are temporarily out of stock or currently out of stock.

Skyrocketing timber prices

Some time ago, #Wood price increase forces furniture factories to close# became a hot topic on Weibo, sparking heated discussions among netizens.

@CCTV Finance News: Since August last year, timber prices have skyrocketed , causing great suffering to many downstream companies with high demand for timber.

Some large furniture companies still have inventory and can supply for a while , but some small furniture factories have to close down . In addition, they also face the problem that as the price of raw materials continues to rise, downstream companies dare not easily raise prices .

Image source: Random Lengths

According to data provided by Random Lengths magazine , there has been a serious shortage of timber worldwide since the end of last year, and global timber prices have risen 188% year-on-year .

In this "turbulent era", the "excellent quality" of panel furniture is reflected. Panel furniture has a high utilization rate of logs , which can maximize the use of wood, even the leftovers such as scraps , so the consumption of wood is much less than that of solid wood furniture. In today's furniture industry where the price of wood is soaring, panel furniture naturally shines.

Now that the third wave of the epidemic abroad is still ongoing, the overseas "stay-at-home economy" and the extension of the home office mode will keep the demand for furniture products on an upward trend .

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