With the involvement of diverse capital, Chengdu Furniture City and the entire home furnishings sector in the west are experiencing a wave of innovation. According to the "2011 Chengdu Home Furnishings Market White Paper," released by Chengdu Market Research Co., Ltd., the volume of emerging home furnishings professional markets is expected to triple that of existing home furnishing stores within the third ring of Chengdu. Shuangliu, represented by Yuanrui International Furniture Store, is leveraging Chengdu's furniture industry strengths. Xindu has developed core home CBD areas like Jiahejiayuan, Aidengbao International Lamps & Lighting Expo Center, and Xiangjiang. In Qingbaijiang, Jiafei International Building Material Home Furnishing Market and Dagang Building Material City have already opened, while Huachuan Yindi Building Material City and Qinglong Building Material Decoration City are nearly ready.
As the building materials market enters the off-season, the Chengdu home furnishings market remains unusually active, with openings being the main focus. The Home & Home International Furniture Mall in Xindu and Hall 2 of Xiangjiang Global Furniture CBD opened simultaneously; last Sunday, Dagang Building Materials City in Qingbaijiang also commenced operations. The concurrent openings of several emerging home furnishings and building materials markets signal that Chengdu’s home furnishings market is entering a phase of significant expansion, with intensified competition ahead.
The second hall of Xiangjiang Global Home CBD also saw bustling activity during its opening due to events like dealer meetings. The opening of "Hall 2" once again highlighted Xiangjiang Global Furniture CBD’s adept market capital operation capabilities, thanks to its Guangdong-based capital background.
Such a massive scale and number of markets are emerging simultaneously in the suburbs, setting a precedent nationwide. What will sustain the growth of these home furnishings markets, and how will the rankings of furniture brands evolve?
At the 23rd summit of the 13th West China World Expo's "Innovation and Development of Environmentally Friendly Building Materials" forum, Ren Xingzhou, Director of the Market Economy Research Institute of the Development Research Center of the State Council, suggested that the building materials and home appliances industries should capitalize on urbanization trends to adopt more sustainable development models. Ren Xingzhou noted that China's urbanization is progressing rapidly, serving as both the impetus and support for China’s economic growth and the development of the building materials and home furnishings industries.
Another guest at the forum, the former chief economist of the National Bureau of Statistics, a spokesperson, and a special researcher in the State Council's Counselor’s Office, opined that the growing economic slowdown would impact various provinces differently. For Sichuan, he pointed out two key advantages: ample human resources and labor supply, along with a vast population translating into immense consumer capacity. Additionally, Sichuan’s economy is still in its early stages, offering significant untapped potential and space for future growth.
The accelerated pace of urbanization and the immense potential in Sichuan and the west present new historical opportunities for the development of Chengdu’s home furnishings materials industry. A manager of the emerging home furnishings market noted that increasing market demand and expanding market spaces naturally bode well for the industry’s future. The rise of emerging home markets in the west is inevitable.
Dagang Building Materials City in Qingbaijiang, covering 500,000 square meters, opened last week. During the opening ceremony, the China Furniture Building Materials Network e-commerce platform, invested by Dagang Group, was launched with the aim of becoming China’s largest home building materials e-commerce platform. Sources indicate that Dagang Building Materials City is currently one of China’s largest home building materials procurement bases, boasting the most comprehensive functions, widest variety, and lowest procurement costs. It is also the largest trade and logistics complex invested by Zhejiang merchants in the west.
A reporter from the Chengdu Business Daily learned from the Zhejiang Chamber of Commerce in Sichuan that in recent years, Zhejiang merchants have invested up to 220 billion yuan in Sichuan, paying over 10 billion yuan in taxes annually and creating over 1 million jobs. The total assets of Zhejiang merchants in Sichuan have surpassed 1 trillion yuan.
Why did Dagang Group, with over ten years of successful operation experience in professional markets, venture westward into Chengdu? According to Dong Rucheng, Chairman of Dagang Group, under the national macro-policy promoting development in the west, Zhejiang merchants, known for their pioneering spirit, realized that the eastern industrial economy is shifting westward. The rapid economic development of the western region has drawn substantial domestic and foreign investment. Chengdu’s regional advantages, policy incentives, infrastructure, market size, and Asia's largest railway container logistics distribution center under construction provide opportunities for global investors. Consequently, Dagang Group has shifted its strategic investments to the western region, focusing on Chengdu. Currently, it is constructing one of the largest building materials trade and logistics bases in Qingbaijiang District, with an investment scale of 5 billion yuan, capable of providing 40,000 jobs.
Jiahe Jiayuan International Home Furnishing Mall, located in the Chengdu Furniture Industrial Park, opened after two years of meticulous planning. Nearly 300 home furnishings manufacturers and tens of thousands of consumers attended the grand opening. On the opening day, household products in the mall sold over 35 million yuan, marking a strong start.
Among the various capitals entering Chengdu’s home furnishings professional market, there are funds from developed coastal regions like Guangdong and Zhejiang, as well as local capital. Beyond financial contributions, these investments significantly influence the business philosophies and models of the home industry. The Chengdu Business Daily reporter observed that the three large home building materials markets opening last weekend exemplify the capital characteristics of Chengdu’s emerging home building materials professional market: Dagang Building Materials City was built by Zhejiang’s China Dagang Group, Xiangjiang Global Home CBD’s Hall 2 was constructed by Guangdong’s Xiangjiang Group, and Jiahejiayuan International Home Furnishing Mall reflects local capital traits. An industry insider remarked that "this signifies that Chengdu’s home furnishings market is becoming richer and more diversified in terms of capital competition."
As a business platform built on the direct investment model of branded furniture, Jiahe Jiayuan gathers industry-leading furniture brands. Among over 280 merchants, factory outlets account for more than 70%. Nearly 1,000 product lines and 100,000 specially designed items for the opening enjoyed direct factory sales, priced 60%-80% lower than market rates. Additionally, the mall organized various activities such as "Holy, non-stop, win Mercedes-Benz, cash and gifts, 100% prize," "One-yuan furniture grab," and "World’s top model T-show," creating a pleasant shopping environment for consumers. This provided buyers with a novel shopping experience. Statistics from the mall showed that on opening day, over 30% of manufacturers achieved sales exceeding one million yuan, totaling over 35 million yuan, with all merchants achieving 100% bill issuance. The impressive performance of Jiahe Jiayuan is largely attributed to the strength of Sichuan brands and local capital.
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