The furniture hardware industry is showing signs of recovery, but this "recovery" has come with a surge in prices. As raw material costs—such as sheet metal, hardware, and paint—continue to rise, along with increasing labor expenses, furniture manufacturers are forced to raise their prices. This trend has led to a collective price hike that many consumers may soon notice.
Mr. Zhang, a furniture brand agent, shared that his company has received official notices from the factory indicating a 5%-10% increase in ex-factory prices starting in March. The price increases will mainly affect wardrobes, accessories, mattresses, and sofas. He explained that although some stores have not yet adjusted their pricing, discounts have become less frequent since last July. This is due to the rising costs of key materials such as aluminum, stainless steel, paint, and adhesives used in furniture production.
In addition, wages for production workers, sales staff, and installation technicians have increased by approximately 10%-15% over the past year. With more complex craftsmanship involved in carving, hand-painting, and other manual processes, the cost of high-quality, labor-intensive furniture has risen significantly.
Zhang Yuncheng, vice chairman of the Tianjin Furniture Association, noted that the era of high-profit margins in the furniture industry has passed. With market competition intensifying and marketing practices becoming more standardized, profit margins have shrunk. Currently, around 20% of income goes to store rent, 7% to logistics, leaving only 10%-20% as profit for furniture companies. As a result, there is little room for further price reductions.
According to Zhang, the recent price hikes in building materials have become a common practice across the industry. Looking ahead, the furniture sector is expected to see an overall increase of 10%-15% this year.
A furniture store manager mentioned that before April, the home furnishings market is typically off-peak, making it difficult to pass on price increases to consumers. Since furniture is not a daily necessity, even small price changes may go unnoticed. However, the industry is also facing pressure from online retailers, which have made pricing more transparent. To avoid direct price hikes, many brands are reducing discounts instead, effectively increasing prices in a subtle way.
Interestingly, imported furniture may be experiencing a different trend. Zhang believes that due to consumer skepticism toward foreign brands, the appeal of imported furniture has declined. As a result, some foreign brands are lowering prices to regain customer interest, marking a shift from their previous premium positioning.
With the upcoming "May Day" holiday being a major sales season, the furniture industry is expected to announce new product launches and potentially implement direct price increases. For those planning to purchase furniture, it might be wise to act early before prices rise further.
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