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Due to a growing shortage of raw materials, the price of wooden furniture has surged in recent months. To tackle rising wood costs, many manufacturers are adopting new strategies such as exploring alternative material sources and enhancing brand after-sales services, aiming to cut expenses and boost sales.
"Wooden Furniture Prices Soar"
"How can the price of wooden furniture be so high now? The same product is 15% more expensive than last year, and the increase is really fast," sighed Miss Yang, a customer shopping for a wooden wardrobe. According to reports, prices of wooden furniture have risen significantly across major furniture stores in Beijing, with the main cause being the ongoing scarcity of timber.
It has been reported that Southeast Asia, Africa, North America, and Russia have traditionally been China's primary sources for imported timber. However, due to factors like declining forest resources, stricter national policies, fluctuating exchange rates, and higher transportation costs, the supply of imported timber has become increasingly limited. Industry experts noted that after the implementation of natural forest protection projects and the ban on logging in certain areas, the availability of suitable wood for furniture production has dropped sharply. Provinces like Jilin, Yunnan, and Guangxi, which are major wood-producing regions, have seen significant reductions in output. As a result, the supply shortage is expected to worsen.
"High Prices Lead to Overcapacity"
As furniture prices continue to climb, consumer demand has started to decline. Many buyers are now taking a wait-and-see approach, leading to lower sales of high-priced furniture. Meanwhile, some manufacturers, anticipating further price increases, have begun stockpiling materials, which has resulted in a surge in inventory and a rise in overcapacity within the industry.
According to the reporter, Chinese furniture has long relied on its cost advantage to capture market share globally. However, with rising wood prices driving up furniture costs, this competitive edge is fading. As a result, Chinese furniture's position in the international market is weakening, and its global market share is shrinking.
To adapt to these challenges, companies are actively seeking new sources of raw materials and investing more in brand reputation and after-sales support, hoping to maintain their foothold in an increasingly competitive environment.