Differentiated home hardware market under the new consumption wave of 2024

The trend of the hardware track affects the business strategy and development trend of the home furnishing industry to a certain extent. Therefore, in many cases, home hardware has become the "brand behind the brand". Behind various finished products such as furniture, doors and windows, hardware accessories have become a very important supporting force, boosting the competitiveness of furniture, doors and windows and other brands. Many furniture and building materials companies often emphasize the selected hardware brands in order to highlight key competitive factors such as comprehensive strength and product selling points.

Suffering from the downturn in the real estate market, in the past year, major brands have withdrawn one after another and engaged in fierce price competition in the home improvement market. The "storm" of price war has swept the entire industry! Oppein Home Furnishing launched the Fiskar series of wardrobes/cabinets as Huimin products at 699 yuan/square meter; Shangpin Zhai offers Huimin series wardrobes at 699 yuan/square meter and cabinets at 699 yuan/square meter; Sophia’s whole-home package is priced at 39,800 yuan. For the whole house, Milanna launched the "688 yuan/square meter package".

The price competition in the market for home building materials is fierce, and home hardware companies as upstream suppliers have also been greatly impacted. How can home hardware companies avoid the fierce price war in 2024 and achieve their own growth?

The downturn in the real estate market is not only caused by the economic downturn, but also due to the slowdown in China's population growth. However, as a country with a population of 1.4 billion, the housing stock is extremely large. 

Even though not so many people need to renovate their new homes, there is an increasing need to improve their existing homes and provide a more comfortable home environment for themselves and their families. At the 2023 Customized Home Industry High-Quality Development and Intelligent Manufacturing Conference in September last year, Boloni CEO Cai Xingguo pointed out the huge market space for existing existing housing renovations. Take Beijing as an example. There are about 10 million housing units in stock, and nearly 7 million houses need to be renovated. However, the number of renovations in Beijing each year will not exceed 250,000 units. There is a huge market space waiting for us to explore all the time! Therefore, in the future, the main growth point of consumption in the furniture and building materials industry will gradually move from the "rigid demand" stage to the "rigid demand-improvement" stage. The home renovation market will be a major differentiated market under the new consumption wave of 2024.

"Haute couture" or "light couture" home furnishings are in the middle and high part of the price pyramid. Although this part currently has a small volume, the unit price per customer is high. Moreover, in the future, the Puding market will gradually decline, while the haute couture and light haute couture markets will surely become a rising star. The main characteristic of this new consumer demand is that when purchasing customized homes, consumers pay more attention to design, materials, craftsmanship, manufacturing, scenes, delivery, and services.

This also means that the entire consumer group has higher requirements for home hardware that serves the "high-end" or "light high-end" market.

First of all, home hardware companies must pay more attention to their own design innovation and provide consumers with more choices. Including but not limited to improving and innovating its own smart home hardware products so that they can better serve the smart home system to meet consumers' needs for convenience, safety and intelligence, and highlight the technological content and high added value of the products.

Secondly, on the premise of meeting the daily functions of customers, home hardware still needs to perfectly integrate artistic aesthetics and practical functions, present the quality of hardware accessories from detailed design, and use modern design concepts to create simple yet exquisite hardware products. , to meet consumers’ higher-level spiritual needs.

Finally, home hardware companies should focus on improving the customer experience of their products. By improving after-sales service, optimizing product quality and providing personalized customization, we strive to meet consumer needs and enhance user satisfaction with products.

SINCE 1993

AOSITE Hardware, as a company that has focused on the R&D and manufacturing of home hardware for 30 years, whether it is "new qualityism in hardware", "useful hardware, interesting soul", "artistic hardware" and other brand concepts are promoting the brand from " The "rigid demand" market has entered the "high-definition" and "light high-definition" markets. In the future, we will continue to uphold the development spirit of "creating things with craftsmanship and building homes with wisdom" to continuously explore market demand, continuously improve product technology, continuously optimize service processes, and provide customers with better products and services.