How can hardware brands break through the trend?

In the past two years, there has been an interesting new phenomenon in the household hardware industry. In the case of a downturn in the real estate industry, many brands have sprung up suddenly, eroding the market share of imported hardware brands.Among them, the main reason is that the quality of domestic hardware products is gradually in line with the world's big names and the cost performance is higher.

However, let's carefully analyze the statistics of the hardware industry in the past two years. We will find that the market data of household hardware is actually not ugly compared with the shrinking real estate industry. There is a big reason for this: domestic brand hardware products have gradually replaced foreign hardware brands and become the first choice in the home improvement market. This means that although the number of customers in the overall market is declining, the unit price of customers in the market has increased a lot.

In recent years, hardware has increasingly become the "chip" of the furniture industry.In 2023, the market size of China household hardware industry will be about 226.11 billion RMB. It is predicted that the compound annual growth rate (CAGR) of the market size will reach 7.6% in the next five years, and the market size will increase to 324.45 billion RMB in 2028. The industry has great development potential.Although the value of hardware in furniture accounts for 5%, the operating comfort accounts for 85%.

Therefore, in this new cycle of the home hardware Manufacturer, in addition to digital intelligence manufacturing, AI marketing, sinking market, brand going out to sea and other aspects, it is driving the growth of home enterprises.As the "small size and great wisdom" of the home industry, hardware products are redefining the position of hardware in the home industry with its convenience, comfort and intelligence, opening up the new imagination of consumers' home life behind the hardware, and providing a new thinking for the construction of "new quality productivity" in the home industry.

This is because in the past, consumers' awareness of home hardware products was low, so its existence was not strong, and it only existed as a basic accessory. Later, the upgrading of hardware from function to appearance enriched the functions of home products, provided personalized design and refreshed consumers' cognition of home hardware. Hardware design or function rejuvenation became the main promotion scheme of customized brands and became a new growth point of customized home.Nowadays, with the popularity of home intelligence, hardware has gradually become an indispensable component or even the core of home intelligence.

At this point, hardware products have officially entered the C position of the home life stage, whether it is whole house customization, whole package customization or whole case customization.Home hardware products no longer exist only as a basic configuration, but have become the key components to meet the needs of different customization schemes.Major enterprises, scrambling to seize the new trend of the integration of large-scale residential industries, on the one hand, take hardware as the core, leading the hardware system solutions to meet different home scenes and different customer needs, and fundamentally upgrade the role of hardware in home life.

The market prospect here is broad, because the demand for high-end hardware is not only for newly renovated houses, but also for the renovation of old houses. Since it is necessary to transform, it is to pursue improvement in comfort, appreciation, convenience and intelligence, which can only be achieved by high-end hardware.