Industry Special Report: Can “Whole-Home Customization” Solve the Concentration Challenge?
The home furnishings and home‑improvement industries have long grappled with a fragmented competitive landscape that is difficult to consolidate. The home‑improvement sector exhibits pronounced regional characteristics: according to data from iResearch and Fastdata, in 2020, chain‑operated firms accounted for only 10% of the national market, while companies with revenues exceeding RMB 100 million held a mere 18.6% share; the vast majority of players remain small‑scale, long‑tail operators. A similar pattern holds in the broader home‑furnishings space: calculations show that, among the three major subcategories, concentration ranks as follows—soft beds and mattresses > sofas > cabinets. Even in the mattress segment, which displays relatively higher concentration, the CR4 stood at just 16.9% in 2020. Although overall concentration across home‑furnishings categories has edged up in recent years, it remains broadly low.
2023-01-28