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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 nghìn tỷ won (103.3 tỷ won) 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 “trang chủ” culture and a tight housing market. Mặt khác, 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.
TRONG 2020, Hanssem (Hanssem Home), the top-ranked company in Korea’s home furnishing industry, posted sales of 2.6 nghìn tỷ won (nhân dân tệ 14.9 tỷ), hướng lên 21.72% hàng năm. Trong cùng thời gian, operating profit increased 66.7% ĐẾN 92.9 tỷ won (nhân dân tệ 530 triệu).
Hyundai Livart’s 2020 doanh số tăng 11.9% hàng năm đến 1.3846 nghìn tỷ won (nhân dân tệ 7.95 tỷ). Operating profit rose 55.8% ĐẾN 37.2 tỷ won (nhân dân tệ 210 triệu).
IKEA Korea posted sales of 663.4 billion KRW (nhân dân tệ 3.0 tỷ) trong năm tài chính trước (Tháng 9 2019 đến tháng 9 2020), hướng lên 31.8% hàng năm.
Among mid-tier companies, growth was particularly strong at Emmons.co. Emmons posted sales of KRW 186.4 billion last year, hướng lên 9.7% từ năm trước. Operating profit turned to a profit of 7 tỷ won.
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. Trong cùng thời gian, sales of Hyundai Livart’s B2C business grew by 11.8%. Sales in the online division, the core of Emmons’ B2C business, increased 29 phần trăm. 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% Và 46.8% increase over the previous year.
Hyundai Livart’s operating profit was 12.5 tỷ won, xuống 15.88% over the same period, while B2C sales increased by 4.6%.
Mặt khác, 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, xuống 35.7% từ năm trước, with an operating loss of 8.5 tỷ won.
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 nghìn tỷ won (nhân dân tệ 58.48 tỷ), hướng lên 23.8% hàng năm, with e-commerce transactions driving the market’s growth. 5 nghìn tỷ won (nhân dân tệ 28.7 tỷ) of home transactions will be traded in online stores in 2020, hướng lên 43.5% từ năm trước, 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.
Vào cuối 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 nghìn tỷ won (nhân dân tệ 78.62 tỷ) and is expected to reach 18 nghìn tỷ won (nhân dân tệ 103.3 tỷ) qua 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) từ 2017. Trong bối cảnh này, 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. Theo truyền thông Hàn Quốc, the Korean home interior market is expected to continue to grow structurally as lifestyles centered on the home space continue to change.
