Browse quantity: Update time:2020/1/17 9:20:04
Intelligent, technical and refined operation is the new focus of household enterprises, which shows that the past growth of household enterprises does not depend on these, so the future growth depends on a new direction. At the same time, many industries, including large amount of science and technology consumer goods, show the characteristics of stock competition. The home furnishing industry faces limited stock market competition. It needs to follow the policy and macro trends, and ensure its product competitiveness, so as to obtain its own order share and maintain performance growth.
B-end engineering business is not to create new demand, but there are a lot of order increase points
The data shows that there are a large number of bond financing and financial management in the listed household enterprises. At the same time, some enterprises have a rising asset liability ratio because of financing and bank loans. If the enterprises want to develop stably, they can only stabilize the rising debt by continuously improving the performance.
Unlisted enterprises also have a lot of invisible debts. Without performance growth, the danger is at hand. Looking at the current household consumer products,
No matter the policy oriented market is good or the order line is good, adding code to b-end engineering business is an imperative new driving force.
First of all, from the perspective of policy orientation, since 2016, central ministries and local governments have frequently issued relevant documents on the implementation of fully decorated finished housing. In 2017, the 13th five year plan of the construction industry issued by the Ministry of housing and urban rural development of the people's Republic of China proposed that in 2020, the area of newly commenced fully decorated finished residential buildings in China would reach 30%. In March 2019, the Ministry of housing and urban rural development further proposed in the housing project specification that the construction of new urban housing should be fully decorated and delivered.
Local governments are also actively responding to the full decoration. According to the data of Ovi cloud, there are 6 provincial policies to follow up in 2018 and 10 municipal policies to follow up in 2019. From the official website of the government, we can see that there are clear fine decoration targets in all regions: in 2020, Sichuan, Shandong, Henan, Liaoning, Nanjing, Guangxi's hardcover target is 50%, full coverage, full coverage, 50%, 50%, 20%, Fujian, Guangdong, Hunan, Inner Mongolia, Xi'an, Hubei, Jiangxi, Heilongjiang, Jiangsu's hardcover target is 20%, full coverage, 70%, 80%, full coverage, full coverage, Full coverage, 20-30%, 40%.
Looking at the 2025 plan, Sichuan, Jiangsu, Fujian and Taiyuan's hardcover target is 70%, 50%, 35%, full coverage. These hardcover engineering businesses directly point to a large number of orders.
From the perspective of the order amount, according to the technical guidelines for the design of full decoration of residential buildings, the fine decoration involves such building materials as cabinets, wooden doors, ceramic tiles, floors, bathrooms, coatings, fume hoods, gas stoves, etc., and the matching rate basically reaches the full coverage. According to the budget of Huaxi Securities, the assumed penetration rates in 2019, 2020 and 2021 are 32%, 37% and 42%, and the corresponding market space is considerable.
In the category of cabinets, assume that each hardbound room is equipped with one set of cabinets, and the price of a single set is 4500 yuan, and the market scale in 2019-2021 is respectively 12.8, 18.3 and 22.8 billion yuan; in the category of wooden doors, assume that each hardbound room is equipped with one set of wooden doors, and the price of a single set is 800 yuan, and the market scale in three years is respectively 6.8, 9 and 11 billion yuan; in the category of floor, assume that each hardbound room is equipped with 46 square meters of floor, and the price of each square meter The market scale in three years is respectively 181, 243 and 29.1 billion yuan. In ceramic tile category, suppose that each hardbound room is equipped with 48 square meters of ceramic tiles, and the unit price per square meter is 50 yuan, and the market scale in three years is respectively 113, 152 and 18.3 billion yuan.
It's not hard to imagine that home brands with excellent quality and nationwide channels can win the bidding of real estate developers and win a large number of orders. According to the data of Evergrande real estate, in 2018, those brands with multiple production bases and wide channels will benefit from their income in 30 provinces and cities across the country and their home furnishing enterprises that can be their supporting suppliers.
According to the statistics of sina real estate, the leading brands in the home furnishing industry are most likely to get orders in this wave of engineering business, and 24 brands are most favored by real estate developers in 6 industries, namely, waterproof, floor, cabinet, building ceramics, sanitary ware and lighting. Among them, the first level brands include Dongfang Yuhong, holy elephant, gold medal cabinet, Marco Polo, Kohler and Philips; the second level also includes Keshun, shuxiangmen, Europa, Monalisa, Toto and Rex lighting; the third level includes Hongyuan, Hebang Shengshi, Haier, Dongpeng, American Standard and OPP lighting; the fourth level includes blue shield, nature floor, piano, Nobel ceramic tile, Wrigley, and Xibei Dun Zhaoming.
In addition, other categories also focus on high-quality brands and well-known products. For example, OPEC home furnishings has production bases in Tianjin, Wuxi, Qingyuan, Guangzhou and Chengdu. The nationwide production capacity layout can not only ensure the company's delivery and service capacity, but also reduce transportation costs. In the field of home appliances, Ovi cloud data points out that in 2018 alone, the boss and Fang Tai won 40% and 30% of the share respectively, with the remaining market of Siemens 7.5%, Midea 7.3%, Haier 4.1% and vantage 2.9%.
Just because there are so many industry segments, the coverage of real estate companies has different emphasis, different regions and different levels of home brands have potential opportunities to cooperate with real estate.
C-end retail: the core hinterland of home furnishing Enterprises
The stock market is also applicable to real estate. The data shows that the supply of new houses in 2018 is 67% of the second-hand houses. After the sales of new houses slows down, the household consumption generated by the transformation of second-hand houses will become the main market, and the retail business of household enterprises is still the core.
The C-end retail channel generally refers to the sales engineering business channel of household products, the retail channel outside the home decoration channel, and the C-end retail channel in two categories: online and offline. With the extensive investment of e-commerce and Internet companies such as Alibaba and Tencent in the field of home furnishings, online and offline retailing have burst into greater vitality, and C-end retailing also has more space for retail exploration and development breakthroughs.
Online, the potential of home retail is still growing. This includes three important premises: first, after the logistics infrastructure has been greatly improved year by year, the logistics transfer of large household appliances and large household appliances has become possible, and the operation efficiency and service are getting better and better; second, one billion internet users have released the vitality of e-commerce, and consumers' shopping in e-commerce has become the normal, and there is still room for further increase; third, after the early extensive operation, e-commerce platform companies are looking for Looking for the second growth point, cross industry integration is becoming this important second growth point, which is the source of Alibaba's cross-border home furnishing strategic guidance.
The huge vitality of online retail is evidenced by data. According to statista data, in 2019, the global online furniture and home furnishings revenue is expected to be USD 1976 billion (about RMB 1391.4 billion), with an annual growth rate (CAGR 2019-2023) of 10%, and the market volume by 2023 will reach USD 289.3 billion (about RMB 2073.5 billion). Looking at China alone, it is expected to reach 79.2 billion US dollars (about 557.1 billion yuan) in 2019, accounting for 40%, becoming the world's largest online furniture and household goods sales market, and it is expected to reach 125.7 billion US dollars (about 90.1 billion yuan) in 2023.
According to the third-party statistics of tmall, JD and other e-commerce channels, the proportion of online channel sales in revenue in 2018 is significantly higher than that in 2016. Among the 10 brands counted in 2018, mercury home textile, rolay life, fuanna, Xilinmen, Europa home furnishing, gujia home furnishing, Sofia, Shangpin home furnishing, Meike home furnishing and Qumei home furnishing were 62.82%, 49.49%, 46.59%, 28.55%, 22.93%, 22.24%, 11.73%, 10.18%, 2.93% and 2.14% respectively. In 2016, mercury home textile, Roley life, Shangpin home furnishing, fuanna, gujia home furnishing, Xilinmen, Sofia, Europa home furnishing, Qumei home furnishing and Meike home furnishing accounted for 57.54%, 55.67%, 38.73%, 35.35%, 35.10%, 18.04%, 12.28%, 5.26%, 4.88% and 2.71% respectively.
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