The “zero tariff†era of imported furniture for six years is coming to an end. China’s General Administration of Customs recently issued Regulation No. 15 of 2012, which clearly stipulates that “solid wood furniture, leather furniture, rattan, bamboo furniture and other furniture will be subject to an import tariff of 10, which will be implemented from April 15, 2012.†This means that importers are expected to usher in a new round of price hikes. Some insiders believe that this move is expected to benefit domestic brand furniture, and domestic furniture can take the opportunity to adjust the product structure.
Zheng Zheng of Oriental Securities analyzed with reporters that the tariff adjustment may trigger a price hike of imported furniture brands, import furniture tariffs will increase by 10%, and terminal price increases will generally be higher.
Huang Liguo, vice chairman of the China Furniture Association, also said: "Many imported furniture has already been raised in price. If the tariffs rise, the overall cost will rise. Logically, the price of imported furniture will definitely rise."
However, the relevant person in charge of some well-known furniture brands said that they have not received the notice that the import tariff will rise to 10.
Wang Ke, president of the Guangdong Furniture Association, pointed out to reporters that the average increase of the furniture industry in 2011 was about 10, and it is expected that the furniture price will continue to rise this year. The time node is around the "May 1", for the durable goods such as furniture. The increase is a more reasonable level.
However, for the price increase of furniture, consumers have a more "calm" attitude, especially after the "Da Vinci Incident", consumers consider brand quality more than price. Mr. Zhu said to the reporter: "If you want to buy furniture, you certainly don't buy domestic brands. Don't worry, the tariffs will rise by 10. The merchants may digest their own points. The terminal products will rise a little more. They should not rise too much."
Affected by the unstable international economic situation, the continuous regulation of domestic real estate, and the rising cost of raw materials, logistics, store rents, and manpower, domestic furniture companies have been sluggish in recent years. China Light Industry Association from January to December 2011, the import and export value report of major commodities in the furniture industry showed that the import volume of wooden furniture, metal furniture and plastic furniture increased by 25.58, 15.45 and 193.76 respectively, and the export volume increased by -0.87, respectively. 4.44 and 9.01.
Under the overall sluggish situation of domestically produced furniture, can the increase of imported furniture tariffs leave more room for domestic furniture companies to develop?
In fact, domestic brand furniture has shown a situation of polarization. The price of big brands has risen steadily, while some small and medium-sized brands have shown signs of “price warâ€.
The sales manager of a well-known domestic furniture brand in East China said that although the market has not been popular in previous years, sales are still growing. At the same time, the company has raised prices in March and April every year for the past two or three years, and the price increase is 3%-5%. Wait.
However, more small and medium-sized brands were forced to choose discount sales under the stagnation of exports and the lack of demand in the domestic market. Many domestic furniture brands in Shanghai's home stores shouted low prices below 50%.
Many people in the industry said that if imported furniture is raised due to higher tariffs, it may be a good thing for domestic furniture brands. The Oriental Securities Research Report shows that the higher price increase of imported furniture may lead to the lower gross profit margin of the company's imported furniture than domestically produced furniture, and may also trigger consumers to transfer to domestic furniture and improve the profitability of the store. Of course, with the opportunity of importing furniture to raise prices, domestic furniture companies can also adjust product mix to enhance competitiveness.
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