The online furniture market has become the mainstream, and the industry is expected to continue to grow
We were honored to visit the chairman of Taiwan Furniture Manufacturer Association (TFMA) Sam Chen to ask him for his views on the furniture industry.Following is the key point of his statement . For domestic demand, the sales of imported furniture and other retail sectors increased by 14.16% YOY in the first half of 2020. It showed that, under the epidemic, more people increased their budget in healthy family lifestyle, driving growth for related industries. Since 2021, with the accessible vaccines, the world has developed a way of life that coexists with the virus. Entering the post-pandemic era, we found that a M-shaped consumer preference has shown in furniture market. Even though global market was suffered from the increased cost due to the shortage of labor and materials, the bantique furniture market has been growing. Thus, there still have huge potentials in luxurious bantique furniture sector. On the other hand, environmental protection, energy saving, and carbon reduction are still the mainstreams in the market. Enterprises can achieve the goals through eco-friendly production, recyclable materials, or eco-materials, such as popinac or bamboo. Meanwhile, custom furniture service with AI virtual technology, multifunctional furnitures with composite structure for small spaces are ongoing trends. And, under the lower birth rate in East Asia, pet furniture become more popular. With its huge potentials, more furniture malls and exhibitions has launched pet segments. In regards of export market, since 2016, the global furniture value had gradually recovered to $490 billions along with the world economy as of 2019. Since then, the market has been steady growth. In developed countries, citizens have stronger purchasing power that would make them pursue higher quality living spaces, generating a steady furniture demand from redecorating old houses or rental houses. In developing countries, the increasing number of people in cities has led to the expansion of housing demand and the demands for furniture. Meanwhile, the rapid economic development of emerging market has increased residents' purchasing power. As a result, people have more capabilities and more desire to seek better living condition, which would drive continuous growth. Industry Consulting Expert in China predicted that the market scale of global furniture market will reach $556.1 billions. For most of the TFMA members who had bravely stepped forward to participate exhibitions, for instance, Orgatc Tokyo, AFF, MIFF, IWF, or Orgatec, had already tasted the opportunities of post-epidemic recovery. This year, many global buyers respond that they have not seen new products from various countries for a long time and are looking forward to finding more opportunities. Moreover, many of the exhibitors' ran out of their catalog and name cards in the first day of the exhibitions. Hence, We expected to have more members join us to participate the shows next year. On the other hand, benefited from the development and lower cost of logistic, onlines furniture stores bring more choices and convenience for consumers. Statistics showed that, during 2017 to 2020, the market share of online sales in global furniture market has been increasing. Online channels become a new market driver worldwide. In the future, with the continuous development of e-commerce channels, logistics, and e-payment, online furniture market share is expected to have more expansion. The report shows that the market scale of global furniture market will reach $650.7 billions, increased by $140.9 billion, with a growth rate of 27.6%, compared with 2020. Although the global epidemic in 2020 has caused a certain impact in the furniture industry, enterprises will have further integration that increase brand concentration, advantages of scales, and overall quality of industrial development. Also, benefited from more popularity of the internet and payment technology, e-commerce has flourished that develops consumers' online shopping habits and behaviors. Due to the convenience of using images, videos and other media to display products online, and fast online payment, transaction efficiency has been greatly improved. According to the report, the revenue of the furniture e-commerce channel in the United States will reach $61.212 billions in 2025. Meanwhile, the scale in Europe will reach $51.964 billions. E-commerce channel will become a new highlight in global furniture market. Source: TFMA
Sam Chen was elected as the chairman of the 17th Taiwan Furniture Manufacturers’ Association( TFMA), hoping that
The Taiwan Furniture Manufacturers’ Association (TFMA) held a membership meeting in the Taiwan Hall of the Lin Hotel Taichung on January 8, 110. The meeting was presided over by Chairman Walter Jiang. Walter Jiang said in his speech that many events will be restricted due to the impact of the new crown pneumonia in 2020. However, the association still overcome all difficulties and successfully held a furniture exhibition in February, launched the presidential chair, invited well-known domestic designers and celebrities to complete 120 works, and invited well-known artist Huang Zijiao to participate in this charity event. Auction, this is also due to the assistance of all directors and supervisors and the support of members. The meeting announced the list of elected directors and supervisors. Sam Chen was elected as the 17th chairman of the board. And he expressed his gratitude to the directors and supervisors for their support for giving him the opportunity to serve members, and at the same time he was also take the responsibility . Sam Chen emphasized that the first session of this session was held by a lady as the board of directors and supervisors, and made the main appeal of the younger generation of directors and supervisors. For the advent of IC and electronics, we must rely on young forces.
Sam Chen said that in the future, Taiwan's furniture industry is not suitable for mass production competition and should strengthen R&D and innovation. The association also invites experienced advisory groups to assist member manufacturers in upgrading and innovating. In the future, we also hope to launch a procurement platform for Taiwanese furniture in the Asia-Pacific region. Therefore, we must be prepared for design upgrades, advanced deployment and one-step implementation.
Finally, Sam Chen quoted the famous quote of US President Trump, hoping that "Taiwan's furniture industry will be great again" and encouraged everyone to work together.
Taiwan society of Fireproof and Green Building materials and Interior decoration(TFGI) holds a member meeting on May 31.The meeting discussed the issue of circular economy “How to solve the engineering waste.”
Taiwan society of Fireproof and Green Building materials and Interior decoration(TFGI) held the meeting on May 31 in Sakura Forest. During the meeting, it passed the final accounts of 108 years and the budget and work plan of 109 years, and awarded scholarships for member representatives and their children. With the gift of souvenirs for members, and to discuss and seek solutions for the issue "How to solve engineering waste" for the circular economy? The meeting was chaired by Chairman Louis Wang. In his speech, Louis Wang said that due to the COVID 19 situation, the cadres specially planned to choose this venue to be held in an outdoor garden, and invited members to come with their families to walk outdoors. Louis Wang also thanked the cadres for their efforts and the participation of members and support for the conference, and reported that the promotion of the current conference was promoted by drywall system technicians, industrial construction and education cooperation: such as industrial-academic cooperation with National Erhlin Industrial and Commercial Vocational High School, and how to solve the engineering waste issue. After the meeting, dine in the Sakura Forest Restaurant. Member representatives are invited to introduce themselves, socialize and promote communication. The meeting was successfully completed at 2 pm. By NewsWin