Floor Covering Institute releases research on China’s flooring industry, consumers, logistics
FCI has just released its latest research paper: The Growing Opportunity in China, a look at China’s economy, consumer market, floor covering demand and logistics channels. Researched and authored by Jim Gould, the paper is the first of its kind to offer an overview of China from the floor covering industry point of view.
Major sections of this industry paper include:
China’s rapid economic advancement and the growing consumer market;
China’s floor covering market;
China’s retail channel and performance;
China’s retail flooring channel;
The state of China’s logistics channel; and
Here’s a look at a few “fast facts” taken from the paper.
Between 1.6 billion and 1.9 billion square meters of new floor space will be needed each year between now and 2025 to accommodate China’s urban migration. This yearly increase is the size of the entire US market.
China’s floor covering market was 12.8 billion square meters in 2011.
China is the second largest luxury market in the world.
China is not a DIY market; consumers prefer Do-It-For-Me.
US exports of flooring to China increased by 36.8% in the first eight months of 2011.
There are 700,000 logistics companies in China.
What does all this mean to the US floor covering industry? Is China an opportunity or a threat? Why do some large Western companies fail in China while others prosper? How does a company begin to to assess the opportunity in China?
Join Jim Gould at Surfaces on Wednesday, January, 25 (at noon in Lagoon D) for his seminar on Expanding Business Overseas where he will also preview sections of this paper and answer questions about China. Obtain a copy of the paper on our website: http://floorcoveringinstitute.com/
or go directly to The Growing Opportunity in China.