Why is furniture so expensive?

Why is furniture so expensive? Revealing the reasons for the price increase of furniture that has been hotly discussed on the Internet in the past 10 days

Recently, soaring furniture prices have become a hot topic on social platforms and news media. Many consumers have found that the price of the same furniture products has increased by 20%-30% compared with last year. What exactly causes furniture prices to remain high? This article will combine the hotspot data of the entire network in the past 10 days to provide you with an in-depth analysis.

1. Raw material prices continue to rise

According to the latest data from the China Timber and Wood Products Circulation Association, the prices of major furniture raw materials have increased significantly year-on-year:

2. Labor costs increased significantly

According to data from the National Bureau of Statistics, the average salary of employees in the furniture manufacturing industry will increase by 12.7% year-on-year in 2023. The daily wages of skilled carpenters have increased from 300-400 yuan to 500-600 yuan, an increase of up to 40%.

3. Rising logistics and transportation costs

The recent fluctuations in international oil prices have led to an increase in domestic logistics costs:

4. Consumption upgrade and design premium

In the past two years, consumers’ requirements for furniture quality and design have increased significantly, resulting in:

1. 30-50% premium on original design furniture
2. The price of smart furniture products is 40-60% higher than that of ordinary products.
3. Customized furniture service fees increase by 25%

5. Increased environmental protection policies

The newly implemented "VOCs Emission Standards for the Furniture Manufacturing Industry" requires companies to upgrade environmental protection equipment, increasing production costs by an average of 8-12%.

6. Impact on international supply chain

The conflict between Russia and Ukraine has blocked European furniture imports, and the import price of some high-end furniture has increased by as much as 35%.

Consumer coping strategies:

1.Purchase at off-peak hours: March-April and September-October are the off-season for furniture sales, with the biggest discounts.
2.Choose alternative materials: Consider using rubber wood instead of oak, which can save 30% of costs
3.Pay attention to e-commerce promotions: 618, Double 11 and other shopping festivals offer strong discounts on furniture categories
4.Consider second-hand products: The price of high-quality second-hand furniture is only 40-60% of new products.

Industry Forecast:

Many industry experts said that furniture prices will be difficult to fall back in the short term and are expected to maintain a moderate upward trend of 5-8% in 2024. Consumers should view price increases rationally and choose the purchase plan that best suits their needs.

From the above analysis, it can be seen that the rise in furniture prices is the result of a combination of multiple factors. Against the background of consumption upgrading and environmental protection requirements, the value composition of furniture products is undergoing profound changes. Simply comparing prices can no longer fully reflect the true value of the product.