Key takeaways
Driving factors: At the policy level, in recent years, the supervision and regulation of the mainland real estate market has continued to increase, and the policies at both the supply and demand ends have been fully strengthened, and the confidence of the market is expected to be boosted. At the economic level, consumers are willing to invest more in improving the living environment, and with the increasing resilience of the upstream real estate end, it will provide a good development space for the home improvement industry. At the social level, with the continuous deepening of the urbanization process in mainland China and the further activation of residents' demand for high-quality housing, it is expected to promote the continuous release of incremental and stock home improvement demands. At the industrial level, the promotion and application of new models and technologies also continue to promote the self-renewal of the home improvement industry, helping enterprises to reduce costs and increase efficiency while further upgrading the customer experience.
Analysis of the current situation: The industry has experienced a process of moving from extensive growth to a high-quality development stage of people-oriented and thick services. As the industry enters the inflection point of stocking, home improvement companies need to strengthen their refined operation capabilities, return to service attributes, further enhance product strength, and enhance user stickiness. From the perspective of model, around the current consumer demand for one-stop home improvement solutions, a complete model integrating element productization, quotation standardization and service integration has emerged, and has gradually become the industry outlet. The head of the whole enterprise has proposed a hosting service model, which controls the construction quality and delivery rhythm for users with professional knowledge, promotes industry players to return to the essence of service, and better meets the upgrading demands of home improvement users with professional service capabilities. From the perspective of the competitive landscape, the main body of competition in the home improvement industry is diversifying, the process of industrial integration is accelerating, and with the continuous increase of the head players, it is expected to change the characteristics of the traditional "large industry and small enterprises" in the industry and promote the increase in industry concentration. In 2022, the scale of the mainland home improvement market will exceed 3 trillion for the first time, and from the perspective of the entire economic environment, the growth momentum of the home improvement industry is sufficient and the future is promising, and the market size is expected to reach 3,780.2 billion in 2025.
Source of the report:
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