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**Furniture Sales Remain Weak During May Day Holiday, Despite Increased Foot Traffic**
The May Day holiday has traditionally been a prime time for furniture sales in the first half of the year. However, this year, reports from local furniture stores suggest that while foot traffic has increased, actual sales have not followed suit.
Zhong Haizhou, assistant director of the Federal Board of Directors, believes the situation is normal. He explained that with industry adjustments, many furniture companies and retailers are now focusing on maximizing profits rather than relying solely on holiday promotions. Additionally, consumers are becoming more rational, preferring to compare products and make informed decisions rather than being swayed by small discounts or promotional coupons.
At Foshan Home International Expo City, Li Zaolan, deputy manager of Yiao Otland Home, expressed frustration. “We distributed 20,000 flyers, but it didn’t make much difference. Our sales over three days were just over 200,000 yuan, which was even lower than usual,†she said.
However, some shopping malls reported better results. According to a representative from Bo City Home Shopping Mall, they held several promotional events during the May Day holiday. The peak of consumer activity occurred on May 1st and 2nd, with significantly higher foot traffic compared to usual. Sales performance was strong, with an estimated 20% increase in sales compared to the same period last year.
Lecong Red Star Meikailong also ran promotions such as redemptions and lucky draws, and many merchants offered discounts. Yet, despite increased customer visits, sales did not rise proportionally. Long Qirong, a salesperson at Tang and Habitat Furniture, noted that their daily sales during the holiday were less than 100,000 yuan. Although the number of customers was more than double the usual, sales remained similar to regular days.
In contrast, Red Star and Macalline reported impressive figures. From May 1st to 4th, the total sales of the entire mall reached nearly 30 million yuan, with over 8,000 visitors. Compared to the same period last year, merchant sales increased by 384%, and foot traffic rose by 273%.
Meanwhile, at Louvre, a high-end furniture store, Li Qunfang, manager of New Era Outdoor Furniture, mentioned that they had not opened any bills for the May Day period. Xu Li, a salesperson at the Fashion Workshop, said that their turnover during the four-day holiday was around 150,000 yuan, a 10-20% drop compared to the same period last year.
With the market showing signs of decline, furniture companies are taking different approaches. Some are considering price cuts, while others are planning to raise prices. Zhong Haizhou pointed out that the average gross profit margin in the home industry has been declining year by year, with net profit hovering around 8-10%. Moreover, the furniture industry still relies heavily on non-standardized products, limiting the potential for price reductions.
Wang Dong, deputy manager of Foshan Weishang Furniture Manufacturing Co., Ltd., added that raw material and labor costs have risen by 10-30% this year. Increases in the prices of aluminum, stainless steel, and other materials used in hardware components have also contributed to rising furniture prices. Some merchants in Foshan Jiabo City have already announced planned price increases after May 1st.
Despite the price hikes, Zhong Haizhou warned that furniture companies should proceed cautiously. With oversupply in the market and weak bargaining power between upstream and downstream suppliers, raising prices too quickly could hurt demand.
As for real estate companies’ pricing strategies, Zhong said it’s too early to tell how these changes will affect the furniture industry. He emphasized that the sector is still far from recovery and that long-term success depends on the strength and efforts of individual enterprises.
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