The three characteristics currently available in the American sofa market
At present, the demand for sofas in the US market is not only the change of housing, but also the demand for home replacement of old houses. Compared with wooden furniture, sofas are easily contaminated and worn due to the cover layer, and the cushions are buffered with time lapse, so replacement The cycle is shorter, usually around 5-8 years.
Since the financial crisis in 2008, the US furniture industry has gradually recovered. The size of the US sofa market in 2012-2017 is growing steadily. In 2016, the US sofa industry market reached US$12.5 billion, up 8.7% year-on-year. In 2017, the market size reached US$14.2 billion, and the compound growth rate in the past five years was 10.55%.
American sofa industry has a high concentration
Currently, the US market CR2 (the largest two companies' output as a percentage of total output) is 32%, and CR10 (the largest 10 companies' output as a percentage of total output) is 79%.
The reason why the American sofa industry has a high degree of concentration is due to the early development of the industry. In the previous development process, it has experienced several rounds of reshuffle. Leading companies have gradually outperformed the industry with strong products and brand strength.
Functional sofa penetration continues to increase
Compared with the traditional fixed sofa, the functional sofa has a basic structure composed of a wooden frame, a sponge, a spring, and a surface decorated with leather or cloth, and the hardware in the internal mechanism can be mechanically moved by shaking, rotating, lifting, etc. Height or angle adjustment, can also add heating, massage and other functions, in the chat chat, entertainment and rest and sleep can be according to the needs, through the operation mode to achieve the most suitable and relaxed state, significantly enhanced the use of comfortability.