Retail sales of furniture in China by month 2022-2023
In July 2023, the retail sales of furniture in China amounted to approximately 12.6 billion yuan. This equaled to around 0.1 percent increase of the revenue generated in the same period of the previous year.
Simultaneously, development of the domestic furniture market is bolstered by an increase in purchasing power among Chinese customers. Continuously rising incomes in both urban and rural China have raised the living standards for a large share of the Chinese population. Hence, Chinese consumers are willing to spend more on household decorations. As a response, the furniture market in the country has developed into a multi-billion dollar industry. China's furniture market value was forecasted to exceed 1.3 trillion yuan in 2020.
Wooden furniture accounts for a major proportion of the furniture manufacturing industry in China. Traditionally, Chinese customers tend to choose solid wood in terms of furniture materials. Operating revenue of wood furniture manufacture in China has been projected to reach about 72 billion U.S. dollars in 2020. Also, bamboo and rattan furniture gained increasing popularity in recent years. In 2020, operating revenue of bamboo and rattan furniture manufacture in China was estimated to reach almost 1.9 billion U.S. dollars.
Furniture market in China
After decades of development in the furniture industry, China has become the world’s largest furniture producer as well as exporter. Being among the major export goods of China, a significant part of China’s furniture products are destined for the global market. In 2021, the total value of Chinese furniture exports amounted to around 73.8 billion U.S. dollars.Simultaneously, development of the domestic furniture market is bolstered by an increase in purchasing power among Chinese customers. Continuously rising incomes in both urban and rural China have raised the living standards for a large share of the Chinese population. Hence, Chinese consumers are willing to spend more on household decorations. As a response, the furniture market in the country has developed into a multi-billion dollar industry. China's furniture market value was forecasted to exceed 1.3 trillion yuan in 2020.
Wooden furniture accounts for a major proportion of the furniture manufacturing industry in China. Traditionally, Chinese customers tend to choose solid wood in terms of furniture materials. Operating revenue of wood furniture manufacture in China has been projected to reach about 72 billion U.S. dollars in 2020. Also, bamboo and rattan furniture gained increasing popularity in recent years. In 2020, operating revenue of bamboo and rattan furniture manufacture in China was estimated to reach almost 1.9 billion U.S. dollars.
