PROSPECTS AND OPPORTUNITIES
Stable growth expected despite ongoing challenges, with non-toxic products sought
Homewares and home furnishings stores and home improvement and gardening stores are projected to see only slow current value growth rates in China throughout the forecast period, just marginally higher than those seen in 2024. Expected continued stagnation in the housing market makes significant expansion unlikely in the near future.
Players likely to invest in both online and offline resources to attract consumers
For decoration materials and large furniture, many consumers favour checking online for products and recommendations, but go offline to experience the products and carry out the transaction, with this gradually becoming the mainstream. Therefore, more players in home products specialists have been starting to use a combination of offline physical stores and an online presence, and it is likely that players will continue to increase the resources allocated to optimise both online and offline traffic.
Pet shops and superstores set to see the most dynamic growth
The perception of marriage and childbearing has changed amongst many young and middle-aged Chinese consumers, and there are thus a large number of singles and DINKs (Dual Income No Kids), who are often keen to enjoy the company of pets. In addition, the ageing of the population continues, and older people, especially those whose children have left home, are also keen to have a pet for company.
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Overview:
Understand the latest market trends and future growth opportunities for the Home Products Specialists industry in China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Home Products Specialists industry in China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Home Products Specialists in China report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Home Products Specialists in China?
- Which are the leading retailers in Home Products Specialists in China?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How has the impact of COVID-19 and national lockdown impacted consumer demand?
- Which formats have benefited the most from stockpiling and enforced home seclusion?
- How will the wider economic impact of COVID-19 shape the retail landscape in the future?
- Where is future growth expected to be most dynamic?
Home Products Specialists in China - Category analysis
KEY DATA FINDINGS
Stable but slower growth for homewares and home furnishings stores
Rise in DIY projects drives continued growth for home improvement and gardening stores
Ikea’s share strengthens amidst competitors’ decline
Stable growth expected despite ongoing challenges, with non-toxic products sought
Players likely to invest in both online and offline resources to attract consumers
Pet shops and superstores set to see the most dynamic growth
Retail in China - Industry Overview
Retail in 2024: The big picture
Digital and social media initiatives drive retail growth
Shifts in retail channels favour value-based retail and online sales
What next for retail?
Informal retail
Opening hours for physical retail
Seasonality
618 Shopping Festival and Double 11 Shopping Festival
Shanghai May 5th Shopping Festival
DISCLAIMER
The following categories and subcategories are included:
Home Products Specialists
- Home Improvement and Gardening Stores
- Homewares and Home Furnishing Stores
- Pet Shops and Superstores
Home Products Specialists
The aggregation of home improvement and gardening stores, homewares and home furnishing stores, and pet shops and superstores.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Home Products Specialists research and analysis database.
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