2021 China Bedding Industry Development Forecast
I.China Bedding Industry development trend
Diversification of sales channels
The sales model of Chinese home textile industry has experienced “horse-race”, “online and offline integration” and “e-commerce power”. Three stages of development, “Internet + home textile” production and sales model has become an industry trend. The explosion of the Wanghong economy has led to a further shift in the sales model of the home textile industry. The brands are vigorously developing live streaming channels, joint web-celebrity anchors to create explosive products and improve brand awareness. Data show that in 2020, among the major listed companies in the bedding category, Mercury Home Textiles e-commerce revenue accounted for nearly 50%, Fuliana e-commerce revenue accounted for more than 40%, and Lolai Life accounted for nearly 30% (the specific are subject to the actual).
Children’s bedding has become a blue ocean market
At present, although the head of the bedding industry brands have been launched one after another children’s bedding, but the development of children’s bedding is still slightly lagging behind. The “post-80s” and “post-90s” parents are more brand-conscious and have higher requirements for the style, quality and environmental protection of children’s bedding, and the trend of fashion and branding of children’s bedding is gradually taking shape. Children’s bedding market has gradually become a blue ocean of competition in the bedding market.
Consumer preference from mass branding to personalization and fashion
At present, the growth of Chinese bedding enterprises still mainly rely on product quality improvement and marketing channel expansion, but built on the basis of the brand quality, culture and fashion and many other factors of differential advantage in the competition is becoming more and more obvious.
With the continuous development of the economy, the people’s material living standards have been greatly improved. Consumer consumption of bedding is no longer only in the basic functions of living and satisfaction, but more requirements for bedding and consumer lifestyle and aesthetic culture match. Bedding design, fabric and even ecological and health care functions put forward more and more requirements to product style and product function as the characteristics of the brand consumption era has come.
The future competition between bedding enterprises is the competition of consumers, post-90s, post-95s and even post-00s will be the object of brand competition based on differentiation. Only from the consumer’s point of view, enrich the product structure, and constantly integrate fashion elements, can enterprises better shape the corporate brand, enhance the brand value, and give full play to the brand’s market influence.
Product function diversification
With the improvement of people’s living standards in most countries, the consumer’s concept of consumption is gradually changing, the importance of product functionality is increasing, and the requirements for bedding are no longer limited to the original basic features such as warmth and comfort. According to the different uses of bedding, people also hope that it has health care, protection and other special features, such as soft, breathable, perspiration, antibacterial, anti-mite, anti-UV, anti-toxic, flame retardant, anti-radiation, aromatherapy, magnetic therapy, moisture absorption, oil and water resistance, etc.. Bedding fabrics are also gradually using new fabrics such as bamboo fiber. The future of functional bedding unique high-tech content and high value-added will become a new economic growth point in China’s bedding industry.
Integrated development with the home furnishing industry
China’s bedding and home furnishing industry integration is one of the industry trends. At present, the industry’s mature brands have made relevant strategic adjustments, gradually from home textiles to home transformation, such as Lorelei life, Fuliana, Dream Clean and other brands have been transformed to the direction of the home; furniture industry custom closet brand Sophia, also with wooden doors, curtain project into the overall home field, and expand their own brand bedding. Drawing on foreign experience, foreign home textile brand group generally adopts an integrated business model from home textiles to home furnishings, to achieve the group development of home textiles, home furnishings, furniture, decoration, design, often with a high market share. With the upgrading of consumption, the progress of consumer culture, consumers will pay more attention to the integration of bedding and home, in addition to the product itself.
II.China Bedding Industry’s Main Barriers
Design capability and process level barriers
The improvement of consumer consumption level has put forward higher cultural and aesthetic requirements as well as higher functional requirements for bedding. Modern bedding should not only adapt to the changes in the consumption needs of different consumer groups, absorb the design elements of international trends, but also to combine the cultural traditions and customs of various countries. At the same time, but also with the comfort, health and environmental protection functional requirements, these are the bedding R & D design capabilities and process technology level which put forward increasingly high requirements. Enterprises must have strong innovative design capabilities, solid technology development capabilities and the ability to integrate trends and their own brand culture, while needing to have a strong R & D technology through the development of technology into the industrialization of the results. It is difficult for new enterprises to form such ability in a short period of time, and product development can only stay at the simple “copy” stage, unable to meet the multi-level needs of different consumer groups.
Enterprise management level and talent barriers
With the increasing development of the bedding industry, enterprises must have a high level of management and professional talent in order to have a competitive advantage. Enterprise management ability and the degree of refinement determines the efficiency and cost of business operations, excellent corporate management skills can effectively enhance the competitiveness of enterprises and business efficiency, and a high level of management of bedding companies need to be equipped with a wealth of experience in brand operations, marketing, design, finance, information management and other aspects of talent. For new entrants in this industry, it is difficult to obtain rich experience in business management and excellent talents in a short period of time.
Marketing network barriers
Marketing network is the basis of survival of bedding enterprises and the key to establish a good brand, also the fundamental to win the market and consumers. With expansion, construction, operation, control and the use of good marketing network advantages, enterprises can continuously launch their own products, provide quality service, deliver the brand concept, to seize the market opportunities. Since building a sales network that suits your brand positioning and obvious advantages in quantity and service quality requires a lot of manpower, capital and long time investment, and puts forward high requirements on the organization and management of enterprises, it is difficult for new enterprises to establish a high-quality sales network in a short period of time.
Brand barriers
Relatively speaking, the category of bedding is less differentiated, so the brand determines the competitive position of bedding enterprises in the industry. At present, China’s bedding industry gradually into the era of brand competition, consumers in the choice of bedding will focus more on fashion taste and brand appeal, the brand effect is becoming more and more obvious. In the fierce competition, well-known brands not only have a high market share, but also have a strong bargaining power, to obtain more than the average profit level of the same industry, the brand has become a comprehensive embodiment of enterprise R & D technology, process level, product quality, brand culture, marketing and other factors. Brand planning, establishment, management and maintenance is a long-term, significant work, requiring long-term construction, management and accumulation of enterprises, it is difficult to obtain easily in the short term. Therefore, the Chinese bedding industry has a high brand barrier.
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