Home expansion encountered housing market regulation "We have followed several major stores in Nanjing, Qingdao and Tianjin to open stores, but our national store expansion plan last year was only about 10, while the three major stores in the second-tier cities last year required 6 new layouts, far More than our own store expansion. "The head of a furniture brand in Guangdong privately revealed that due to long-term strategic cooperation, the brand continued some of the cooperative expansion plans in the 2010 home furnishing wave, but the operation of several new stores The contrast is large. "Even in the same city, the operation of different stores of the same brand store is not the same, and sometimes the sales performance of the same weekend will be doubled. Especially in the more remote new stores, the sales are often not very optimistic. . " Actually, Home opened more than 10 stores during the year, Jimei expanded its influence to Xiamen and Tianjin, and Yifeng and Top 100 all over the country. After a year of hard support, Home Depot officially withdrew from the Beijing market. Huansanhuan Home Furnishing experienced "closing-opening-closing" and eventually had to end in tragedy ... The property market regulation that began in 2010 spread to the home market, and its sales volume followed. The decline, especially after the end of 2010, the reserve consumption power was released, and the new market lacked consumption power, which caused many home furnishing stores that have just expanded their new stores into operating difficulties. A research institute released the "Research Report on Top 100 Enterprises in the Home Furnishing Industry", predicting that under the background of tightening funds and increasing regulation in the real estate market, China's home furnishing industry will enter a relatively sluggish adjustment period in 2011. The "Report" pointed out that since April this year, China's real estate market has experienced fluctuations and downturns under the control of the "10 Articles of the New Country." Judging from the trend of the real estate market in May, the transaction area of ​​first-tier cities such as Beijing, Shanghai, and Shenzhen fell sharply, down 56.7%, 49.2%, and 56.8% sequentially; second- and third-tier cities were also greatly affected, and the market wait-and-see atmosphere was strong. The sluggish trading volume may continue. As a downstream industry, the home furnishing industry will face challenges. At the same time, home furnishing companies are also facing problems such as the rise in upstream raw materials, rising labor costs, and rapid increase in marketing channel construction costs. The report shows that in 2010, the average total assets of the top 100 household manufacturing enterprises reached 1.395 billion yuan, an increase of 58.60% year-on-year, and the growth rate was nearly 40% higher than the previous year. The average total assets of the top 100 household decorative enterprises were 1.496 billion yuan. The year-on-year growth was 76.10%, and the growth rate was about 23 percentage points higher than that in 2009. Increased concentration in the home market The expansion of the home furnishing industry in the past two years has also revealed new market characteristics, that is, the market concentration is higher, the market share of the top 100 brands has increased, and the gap with small and medium brands has increased. From the perspective of the overall consumption power of the home furnishing market, the operating income of the home furnishing industry increased by more than 40% in 2010, and the market share increased significantly. Among them, the operating income of the top 100 enterprises increased rapidly, and the growth rate increased significantly compared with previous years. For example, the average operating income of the top 100 household manufacturing companies reached 1.23 billion yuan, an increase of 43.02% year-on-year, and the growth rate was about 27 percentage points higher than last year; the average operating income of the top 100 home improvement enterprises was 1.946 billion yuan, an increase of 44.77%, The growth rate is nearly 20 percentage points higher than in 2009. The background of the rapid increase in sales of the home furnishing industry is that the sales area of ​​commercial housing nationwide hit a record high in 2010, reaching 1.043 billion square meters. According to estimates, the market capacity of the home furnishing industry increased by 16.86% year-on-year to 2.29 trillion yuan. During the same period, the average operating income growth rate of the top 100 enterprises was nearly 27 percentage points higher than the growth rate of the market capacity of the home furnishing industry, indicating that the market share of the top 100 enterprises continued to increase and the industry concentration increased significantly. Some home brand dealers made it clear that the cost of opening a brand flagship store is getting higher and higher, and the effective customer rate brought by the regional aggregation effect may not be directly proportional. On this basis, they still follow the professional home store for brand expansion, but the consideration of details such as brand, location, and store operating performance is a problem that they must choose carefully. Development bottlenecks are gradually emerging The profit scale of the home furnishing industry continues to expand, and the growth rate of net profit remains high, which forms the theoretical basis for the rapid expansion of the home furnishing industry, and is also an important reason why many overseas funds pay attention to this industry. In 2010, the profit scale of the top 100 enterprises continued to maintain rapid growth. Among them, the average net profit of the top 100 household manufacturing companies reached 86 million yuan, an increase of 59.84% year-on-year. Although the growth rate fell from the previous year, it was still at a high level in recent years; the average net profit of the top 100 home improvement companies exceeded 100 million yuan for the first time. The mark reached 114 million yuan, a year-on-year increase of 70.62%, an increase of 17 percentage points over the previous year. The rapid growth of the profit scale of the top 100 enterprises has laid a good foundation for the company to continue to expand its business scale, improve its technical level, and achieve sustainable development. But at the same time, there is also a negative undercurrent in the home furnishing industry where operating efficiency is generally lower and return on net assets is declining. As we know, the core indicator of corporate profitability is the return on net assets. On the basis of net profit margin, the return on net assets comprehensively considers the impact of the company's operating efficiency and capital structure, and more reflects the company's overall profitability. In 2010, the average return on net assets of the top 100 home furnishing companies declined. Among them, the return on net assets of the top 100 home furnishing companies fell from 11.46% in 2009 to 10.93%; the average net assets of the top 100 home furnishing companies The rate of return dropped from 27.64% in the previous year to 22.44%, a decrease of nearly 5 percentage points. The comprehensive indicator of return on net assets is directly proportional to net profit margin, asset turnover and equity multiplier. In 2010, due to the rapid growth of the capital scale of the top 100 household manufacturing companies, the average asset turnover rate fell from 0.99 in 2009 to 0.89 in 2010, while the equity multiplier fell from 1.91 to 1.79. The increase in the average net profit rate failed Change the downward trend of the return on net assets. The return on net assets fell by 0.53% year-on-year. For the top 100 home improvement companies, the average asset turnover rate fell from 1.94 in 2009 to 1.64, and the equity multiplier fell from 2.69 to 2.32. At the same time, the net profit margin also declined slightly, resulting in a sharp drop of 5.2 percentage points in net asset return. The magnificent external profitability landscape and the decline in internal net profitability have caused the rapidly expanding home furnishing industry and new home furnishing stores to also experience development bottlenecks. The shrinking sales of the real estate market will inevitably make the home market demand more visible. After 2011, home furnishing everywhere Market demand is expected to decline in varying degrees. The opening of a large number of new stores may not bring the same proportion of operating returns to the industry. These bottlenecks will become more obvious in the home market in the fourth quarter of 2011. outdoor wpc wall panel, wpc wall panel outdoor ,wpc outdoor wall panel, wpc fence wall panel ,outdoorwpc wall panel ,outdoor decking ,wpc fluted wall panel ,outdoor wall panel,outdoor wpc cladding ,decoration outdoor wall panel wpc.,pvc wpc wall panel Linyi Hmbyan International Trading Co.,Ltd , https://www.lhialuminumcomposite.com
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As the home furnishing industry chain of the real estate downstream industry, its sales market has also shrunk in the context of the severe control of the property market and the sharp decline in housing sales. And just in 2010, many national brands in the home furnishing industry began to expand their territories. The property market regulation began only a few months later, so that the operating pressure of the home furnishing industry increased sharply, and the operation of each new store was also difficult to hide the stretched embarrassment . As a result, the polarized management situation in the home furnishing industry is becoming more and more obvious.