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Analysis of Product Strategies in the Furniture Industry

Published on: 2024-09-04

What product strategies are there in the furniture industry? Behind the fragmented landscape of the home furnishing industry is the fact that every family has very different preferences for furniture styles. This requires leading furniture enterprises to be more diversified in style selection, category selection, price selection, and regional selection. Only by using a rich product matrix and segmented user targeting to cover the entire market can they win broader market share.

Analysis of Product Strategies in the Furniture Industry

First, coordinated development across multiple categories

Relying on the extension of advantageous core categories, achieving multi-category coordination and traffic coordination under multiple categories is an issue that leading furniture enterprises have to face as the traffic dividend disappears. This is also the essence of change in the furniture industry in recent years. Multi-category integrated operations are replacing traditional single-category operations to meet better user experience and higher operating efficiency.

Second, pursuing multi-brand strategies in parallel

Based on extension from a single category to multiple categories and on different design styles, leading home furnishing enterprises are accelerating industry integration. We can see that some furniture enterprises, relying on the capital accumulated through many years of success in the industry, are gradually expanding in scale and entering multiple industrial fields. In the future development of the industry, large groups with multiple brands operated in parallel will become increasingly common.

For consumers, a brand is a category. First there is a category, then there is a brand. Through multi-brand strategies, consumers can form clear labels in their minds and include these brands in their selection list when they think of a certain category.

Third, improve the product matrix and cover the entire market

China has a vast territory, and in the continuous evolution of urbanization and consumption upgrading, the regional gap between cities and rural areas will become smaller and smaller. In the vast rural market, new-home decoration by young people in towns and villages is showing strong demand momentum in furniture consumption.

Accordingly, for leading home furnishing enterprises, a matrix layout of product lines, relying on channel sinking under brand influence, will certainly usher in broad market space, covering the entire market from first- and second-tier cities to third-, fourth-, and fifth-tier markets.

Fourth, cover demand at all levels with different high, mid, and low price tiers

The fragmented landscape is due on the one hand to style and on the other hand to price. This is because an essential condition for leading home furnishing enterprises to continuously raise market share is to embrace a broader mainstream mass consumer base in terms of pricing levels.

Only by extending upward and downward in price positioning can enterprises have greater room for expansion.

Analysis of Product Strategies in the Furniture Industry

Product strategies in the furniture industry usually involve multiple aspects, including but not limited to product design, quality control, pricing, market positioning, and how to meet consumers' ever-changing needs. Soonfor Software is a management software developer professionally focused on the home furnishing field. For more than twenty years, it has consistently focused on the development and promotion of management software, management consulting, intelligent manufacturing, and intelligent marketing for the broader home furnishing industry. Its products include PLM for the R&D side, CRM and Jiuwei Cloud Sales for the marketing side, ERP, MES, APS, and WMS for the manufacturing side, SCM systems for the supply chain side, as well as integrated digital solutions.

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