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Dead or Alive ?Furniture Industry Facing Unprecedented Challenge

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After experiencing a difficult market in 2019, then encountering a sudden coronavirus epidemic situation at the end of 2019, how should home furnishing enterprises inlcuding home furniture factories and custom made hotel furniture manufactures for project and etc deal with it?What should to do for furnishing Industry in 2020 ? The author thinks that we should think correctly from three dimensions:

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First, Noval coronavirus pneumonia is irreversible. The severity, permanence and expansibility of the noval coronavirus are unchanging. In this big battle environment, we can only respond positively to the government\'s policy and measures, it is not realistic to expect that the epidemic will disappear overnight.

Second is that opportunity is hiding in the epidemic crisis.The new environment is not only a deep challenge to the economic structure and industrial structure, but also changes in the internal and external aspects of the household enterprises. Just as SARS reshaped the pattern of China\'s Internet in 2003, the current giants Alibaba, Tencent, Jingdong, Shunfeng and other companies are all rising with the trend after they understood the changes at the beginning, and the brands such as Tata wooden door in the household building materials industry also established their status in the World during the period of SARS.

Third is that we should be blinded by the temporary clouds.We should understand that the coronavirus pneumonia is just postpone the consumption of household furnishing products rather than eliminate the consumption of household products. Even in a strict sense, the new virus has stimulated users\' greater consumption demand for home furniture and decorattion products, because during the period of "home segregation", people stayed at home for a longer time, attention and demanding for home furniture and decoration are ever stronger. So after Novel coronavirus pneumonia ends in the coming period,m home furnishing market will see a explosvie growth . The market demand will increase dramatically. The surviving enterprises will earn a lot from this. But the question is how can the enterprise survive the noval coronavirus pneumonia and survive the "tomorrow"? This is also the focus of today\'s discussion.

Facing the serious novel coronavirus pneumonia raging in the country, home furnishing industry face six challenges which will decide they can survive or die.

Epidemic prevention

Epidemic prevention is the most important issue, especially after the staff come back to the factory,once the companies fails in preventing the desease from spreading,even an individual infection ,which could lead to group infection can result whole company isolation.Such serious consequences are unbearable for the enterprise. In this regard, the author gives several suggestions:

1. Strictly carry out personnel inspection at the time of commencement, and make sure that the suspected employees are isolated at home for more than one week before going to work;

2. Every day, we should carefully prevent the epidemic, check the personnel, and record contact information with the crowd;

3. It is better to work at home if possible. It is better if workers or employees can be divided into different areas and it is suggested that they had better stay working at one area and not work across areas.

4. Last but not least, the key posts must have spare staff, and the leading group must have ABC spare plan and they should never meet each other, so as to avoid the company\'s operation paralysis in case of infection.

Capital turnover barrier

The impact of the novel coronavirus pneumonia will continue for a long time. No one can give the exact answer when it will gone at present. But judging from the development track of SARS in the 2003 years, the impact will not disappear completely, at least until the end of May.

Therefore, for enterprises, a very serious challenge may be that there is no cash entry in a few months, but they still have to pay wages, rents, water and electricity fees, social security and other fixed expenses as usual, so capital flow is particularly important. Cash is the king. Enterprises should reserve at least 3-6 months of cash to deal with future capital turnover.

Confidence management

In the face of great disasters, confidence is always the first place. Confidence is more important than gold. As an enterprise, we must always pay attention to and systematically manage the confidence of employees, dealers, suppliers and even partners;

Just like when SARS came in 2003, Ma Yun\'s first job in Alibaba was to give a speech to the whole staff for confidence management. Because of this, Ali people were full of passion and belief when the competitors were in panic. In 2005, in order to commemorate the passion and belief of Ali people during the "SARS" period in May 2003, Alibaba announced that it would set may 10 as "Ali day" every year.

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Public opinion control

The more special period, the more complex the psychology and the more negative emotions , the more intensive the gossip.More rumors are flying around. Enterprises should deal with it from the following two aspects:

1. From company leaders to employees, we must set an example to be firm in not believing in rumors, not spreading rumors, not contradicting with the government, not causing chaos to the government and society;

2. The company should attach great importance to the psychology of the dealer group so as to avoid negative public opinions about the market and the company in the dealer group,which possibly leads to the collapse of the dealer system.

Market change

The novel coronavirus pneumonia will bring three significant changes at the market level. Home furnishing enterprises need advance arrange in terms of both strategy and tactic.

1. The impact on import and export business will be very large, especially after China was taken as "public health emergency of international concern", which will bring a huge blow to the import and export business, and the domestic competition pattern will become more intense;

2.Consumers’ demand will be changed .Through the new novel pneumonia period, the consumer will have three obvious characteristics to the home furnishing products: environmental protection, comfort and intelligence.

Just as the 2003 Sars brought about the sinking of the household appliance and milk products to the township and rural markets,the novel coronavirus pneumonia will accelerate the sinking speed toward the 4,5,6 line city.

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Marketing reform

Novel coronavirus pneumonia will accelerate the transformation of enterprises at the marketing level same as the SARS brought about the rapid development of Internet marketing and e-commerce, and the novel crown pneumonia will accelerate the 5G marketing video industry\'s marketing at the enterprise level, and the speed will be very fast. Enterprises need to plan multi dimention in advance in terms of video content, live broardcast sales, live broadcast investment, video conferencing, online training, online office and so on. It\'s a huge marketing change in 2020. No one can avoid it. It\'s even more important before the novel coronavirus epidemic ends.

Concluding remarks:

Jacky Ma Ever said ,”Cruel Today,more tomorrow,easy the day after tomorrow,however a lot die before they see the sunrise.”This saying is very apt the current situation in China.We hope that the home furnishing business will think ahead of schedule and cope with the situation ahead to survive the six obstacles and receive the sun the day after tomorrow.

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