The head of the home textile market gathered together, and the frequency and price of consumption upgrading increased simultaneously
China's home textile and bedding market has resumed growth after the epidemic. It is estimated that the scale of home textile market may exceed 300 billion yuan in 2025. The industry as a whole is relatively scattered and concentrated in a slow pace. Under the background of consumption upgrading, the replacement frequency and consumption level of consumer bedding have improved. The demand is based on the basic thermal insulation characteristics, and the preference for additional characteristics such as beautiful design, antibacterial and mite prevention has been added. After the epidemic, the consumption habits have changed, and the proportion of Online consumption has increased.
Improve the average price of online optimization, expand offline stores to seize the share, and head enterprises develop with high quality and stability. Head enterprises optimize the online product structure and improve the proportion of high-priced products and customer unit price; Consolidate the traditional e-commerce platform business, accelerate the layout of new e-commerce channels, strengthen refined operation, and promote the simultaneous rise of volume and price of e-commerce channels.
Open high-quality channel expansion offline, consolidate advantageous areas and strengthen blank market penetration; At the same time, enhance the terminal control ability and improve the brand store image; Accelerate Wuxi Online Offline Communication Information Technology Co.Ltd(300959) integration and improve the efficiency of terminal stores with data empowerment.
It is suggested to pay active attention to Luolai Lifestyle Technology Co.Ltd(002293) , Shanghai Shuixing Home Textile Co.Ltd(603365) , Shenzhen Fuanna Bedding And Furnishing Co.Ltd(002327) . We believe that the leading enterprises have settled for many years and have solid business. Recently, they have optimized the product structure, increased the customer unit price, restarted the expansion of offline channels, and benefited from the consumption upgrading trend, which is expected to further improve the market share and maintain high-quality and steady growth. From the valuation level of the past five years, the three leading enterprises are currently at a low valuation point, so it is recommended to pay active attention.
Risk tip: consumption slows down, store sales or expansion is less than expected, and the efficiency improvement of terminal stores is less than expected
