China Attitudes towards Home Living Market Report 2022
£ 3,695 (Excl.Tax)
Report Summary
“It is important for home brands to strike a balance between quality, design and value to win in a very fragmented market. At the same time, they need to be more vocal in promoting themselves as design or lifestyle trendsetters, as in the fashion or beauty industry.
The proliferation of content marketing on social media has given opportunities for new players, which will also drive the market to be more competitive. Brands that can understand the dynamic demographic changes in family living status and lifestyle values are likely to win in the long term.”
– Gloria Gan, Research Analyst
Key Issues Covered in this Report
- How consumer spending on the home has changed and the growth potential over the next five years
- Key drivers of home-living spending and changes in the marketplace
- Competitive landscape of the home furniture market
- Key trends in brands’ marketing activities and product innovation
- Consumer living status, their desired home feeling and current key concerns
- How home brands can better engage with consumers through content marketing and product placement
- Key attributes associated with selected brands in the home market
Table of Contents
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Overview
- What you need to know
- Key Issues Covered in this Report
- Definitions
- What you need to know
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Executive Summary
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- The market
- Figure 1: Best- and worst-case forecast of consumer expenditure on the home, 2016-2026
- Companies and brands
- Figure 2: Annual revenue and growth rate of leading furniture players, 2019-2021 (est)
- The consumer
- Singles have mixed living status and many are in rented properties
- Figure 3: Current home decoration decision-maker, by marital status, 2021
- Home ambience over designated functionality
- Figure 4: Desired feelings of home, by home decoration status, 2021
- Opportunities for brands to provide home solutions to improve air and water quality
- Figure 5: Home living concerns, by home decoration status, 2021
- A good balance between quality, design and value
- Figure 6: Attractive home product labels, by home decoration status, 2021
- Space utilisation and design inspiration serve as the most popular content marketing
- Figure 7: Interest in content marketing, by home decoration status, 2021
- TV and reality shows are good channels for smart home product placements
- Figure 8: Attention to product placement, by home decoration status, 2021
- IKEA and Kuka standout from the competition
- Figure 9: Brand impression – correspondence analysis, 2021
- What we think
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Issues and Insights
- New opportunities emerge from understanding the ‘modern family’
- Be more vocal as trendsetters
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- Figure 10: Natuzzi Italia home living trends published on WeChat, 2022
- Catering to younger generations’ interest in home DIY
- Figure 11: IKEA’s DIY activities on Weibo and its own app, 2021 and 2022
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- Figure 12: MUJI’s offline handcraft workshops in different cities, 2021
- New opportunities emerge from understanding the ‘modern family’
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Market Size and Forecast
- Home spending has recovered to pre-COVID-19 level
- Figure 13: Best- and worst-case forecast of consumer expenditure on the home, 2016-2026
- Big potential for growth, but over a long period of time
- Figure 14: Sector share of total consumer spending, 2021
- Home spending has recovered to pre-COVID-19 level
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Market Factors
- Changing demographic structure will have a long-term impact
- Ageing population and declining birth rate
- Figure 15: Population structure by age and birth rate, 2011-2019
- Diversifying family structure signifies more personalised home-living demands
- Figure 16: Share of household by household size (number of persons per household), 2011 vs 2019
- Urbanisation and increasing living space drive demand for home improvements
- Figure 17: Floor area of urban residential buildings per capita, 2015-2019
- Market entry by internet giants will further drive digitalisation in home market
- Figure 18: 3D virtual showroom and marketing suite from Tmall Home Improvement Cities, 2021
- Social media gives rise to new market players with more choices for consumers
- Figure 19: Examples of emerging bloggers, retailers and design studios on home living and design, 2022
- Steady recovery of spending confidence
- Figure 20: Financial confidence and changes in spending, 2020-2022
- Changing demographic structure will have a long-term impact
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Competitive Landscape
- A highly fragmented market
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- Figure 21: Annual revenue and growth rate of leading furniture players, 2019-2021 (est)
- A highly fragmented market
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Marketing Activities
- Gamifying the offline retail experience
- Figure 22: Kuka Home launched a time-limited detective social game in its offline store in Kunming, 2021
- Go further with omnichannel
- Figure 23: Alibaba launches Homearch, 2021
- Embracing new values in modern families
- Figure 24: Love Alibi, 2020
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- Figure 25: ZBOM Men’s chef festival campaign, 2022
- Go eco-ethical
- Gamifying the offline retail experience
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New Product Trends
- Go gamers!
- Figure 26: IKEA’s gaming furniture in collaboration with ASUS ROG, 2021
- Rise of space-utilisation home products
- Figure 27: Piano launches new ‘super storage’ line, 2020
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- Figure 28: Piano’s G-wall home fitness, 2021
- Smart furniture and upholstery to improve total wellbeing
- Figure 29: Kuka Muse’s constant temperature sofa, 2021
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- Figure 30: Xiaomi LEGA AI Smart Cervical Message Sleep Pillow, 2021
- Go gamers!
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Home Living Situation
- Nuclear family and multi-generation family are most common
- Figure 31: Living situation, 2021
- Only a third of singles live in properties decorated by themselves
- Figure 32: Current home decoration decision-maker, by marital status, 2021
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- Figure 33: Ziroom’s well-furnished rental homes and promotion for graduates, 2022
- Nuclear family and multi-generation family are most common
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Desired Home Feeling
- Home ambience overweighs designated functions
- Figure 34: Desired feelings of home, by home decoration status, 2021
- Family and living status lead to different needs
- Figure 35: Desired feelings of home, by living situation, 2021
- 25-49 year olds have the highest call for a sense of design
- Figure 36: Desired feelings of home, by age, 2021
- Figure 37: Attractive home styles, by age, 2020
- Be mindful of city tier and regional differences
- Figure 38: Selected desired feelings of home, by city tier and region, 2021
- Home ambience overweighs designated functions
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Home Living Concerns
- Air and water quality are an important part of quality of life at home
- Figure 39: Home living concerns, by home decoration status, 2021
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- Figure 40: Midea water purifier, China 2022
- Younger consumers are particularly sensitive about home privacy
- Figure 41: Selected home living concerns, by age, 2021
- Figure 42: Minut smart home security device
- Air and water quality are an important part of quality of life at home
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Attractive Product Labels
- Quality over price, uniqueness over popularity
- Figure 43: Attractive home product labels, by home decoration status, 2021
- 20s want effortless products, while 30s are attracted by design
- Figure 44: Attractive home product labels, by age, 2021
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- Figure 45: Example of home brands tagging products for lazy people, 2022
- Figure 46: Examples of affordable designer home living products marketed on social media, 2022
- High earners are more likely to look for short-cut decision-making and celebrity effect
- Figure 47: Selected attractive selling points, by household monthly income, 2021
- Quality over price, uniqueness over popularity
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Interest in Content Marketing
- Space utilisation and design style inspiration garner top interest
- Figure 48: Interest in content marketing, by home decoration status, 2021
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- Figure 49: Examples of professional organiser training and sharing on social media, 2022
- Younger consumers have higher DIY interest
- Figure 50: Selected interest in content marketing, by age, 2021
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- Figure 51: Examples of bloggers sharing DIY home products on Xiaohongshu, 2022
- Space utilisation and design style inspiration garner top interest
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Attention to Product Placement
- Smart home appliances get most attention in TV and reality shows
- Figure 52: Attention to product placement, by home decoration status, 2021
- Consumers pursue ceremony to create an all-round sentiment at home
- Figure 53: Attention to product placement, by desired home feeling, 2021
- Smart home appliances get most attention in TV and reality shows
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Brand Impression
- Natural comfort, eco-friendly and functionality standout as quality clues
- Figure 54: Most important aspects of home products, by home decoration status, 2021
- Brand association reveals strengths and weaknesses
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- Figure 55: Brand impression – correspondence analysis, 2021
- Natural comfort, eco-friendly and functionality standout as quality clues
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Appendix – Market Size and Forecast
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- Figure 56: Total consumer expenditure on the home and year-on-year change, 2016-2026
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Appendix – Methodology and Abbreviations
- Methodology
- Abbreviations
- Methodology
About the report
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Market
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Consumer
Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Brand/Company
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Data
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*databooks not available with UK B2B Industry reports.
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