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This article was integrated by Kitchen & Bath News from bizwatch and ETNEWS
Korea’s offline home camp and online platform camp are competing fiercely for the 18 триллион бурд (103.3 миллиард вон) indoor market.
According to bizwatch, the pandemic is changing the structure of Korea’s home furnishing industry, with the number of B2C-focused home furnishing companies growing in 2020 with the rise of telecommuting and “хона” culture and a tight housing market. Аз тарафи дигар, the number of B2B-focused home furnishing companies is growing slowly. The industry expects that the focus of the Korean home furnishing market will rapidly shift to B2C in the future.
Дар 2020, Хансем (Hanssem Home), the top-ranked company in Korea’s home furnishing industry, posted sales of 2.6 триллион бурд (RMB 14.9 миллиард), боло 21.72% сол ба сол. Дар давоми ҳамин давра, operating profit increased 66.7% ба 92.9 миллиард вон (RMB 530 миллион).
Hyundai Livart’s 2020 фуруш афзуд 11.9% сол то сол ба 1.3846 триллион бурд (RMB 7.95 миллиард). Фоидаи амалиётӣ афзуд 55.8% ба 37.2 миллиард вон (RMB 210 миллион).
IKEA Korea posted sales of 663.4 триллион KRW (RMB 3.0 миллиард) дар соли молиявии гузашта (Сентябр 2019 то сентябр 2020), боло 31.8% сол ба сол.
Among mid-tier companies, growth was particularly strong at Emmons.co. Emmons posted sales of KRW 186.4 billion last year, боло 9.7% аз соли гузашта. Operating profit turned to a profit of 7 миллиард вон.
These companies mainly operate B2C businesses. The highest sales growth rate was at IKEA Korea. The Hanssem “Rehouse” interior business grew 33.2% in sales over the past year. Дар худи хамин давра, sales of Hyundai Livart’s B2C business grew by 11.8%. Sales in the online division, the core of Emmons’ B2C business, increased 29 фоиз. And growth continued in the first quarter of the year.
Hanssem reported sales of 553.1 billion won and operating profit of 25.2 billion won in the first quarter of this year. This represents a 12.3% ва 46.8% increase over the previous year.
Hyundai Livart’s operating profit was 12.5 миллиард вон, поён 15.88% дар хамин давра, while B2C sales increased by 4.6%.
Аз тарафи дигар, B2B-focused home furnishing companies continued to decline in performance. Under the combined impact of the construction recession and the pandemic, ENEX.CO posted sales of 233.6 billion won last year, поён 35.7% аз соли гузашта, with an operating loss of 8.5 миллиард вон.
It is expected that the Korean home furnishing market will be restructured around B2C in the future.
According to Statistics Korea, home retail sales in 2020 will be about 10.19 триллион бурд (RMB 58.48 миллиард), боло 23.8% сол ба сол, with e-commerce transactions driving the market’s growth. 5 триллион бурд (RMB 28.7 миллиард) of home transactions will be traded in online stores in 2020, боло 43.5% аз соли гузашта, accounting for nearly half of the overall retail market.
Hanssem is trying to penetrate beyond the home, and has transferred the function of training interior architecture experts from its Hanssem Service Center to its headquarters. The plan is to increase the number of employees to 3,000 by the end of this year.
Дар охири 2020, Hyundai Livart launched “Livart Bath,” a brand that specializes in bathroom remodeling, from sales and construction to after-sales management.
The overall size of the Korean home furnishing market is currently 13.7 триллион бурд (RMB 78.62 миллиард) ва дар назар аст, ки ба он мерасад 18 триллион бурд (RMB 103.3 миллиард) бо 2023, with an average annual growth rate of 15%.
South Korea has maintained an annual per capita income of USD 30,000 (CNY 190,000) аз соли 2017. Дар ин замина, analysis suggests that the pandemic has acted as a catalyst, shortening the time needed to expand the market, and the B2C home market is expected to grow even faster in the future. Бино ба хабари матбуоти Корея, the Korean home interior market is expected to continue to grow structurally as lifestyles centered on the home space continue to change.
