Are You Ready for the￥10 Billion House Repainting Market?
Translated By CGFF Committee
The renovation of aging urban residential communities is an important project about people's livelihood and happiness. At present, the old urban residential communities in need of innovation across the country cover about 100 million residents, involving huge quantities and large areas. “According to preliminary statistics, there are nearly 160,000 old communities in the country, involving more than 42 million households, and the covered area is about 4 billion square meters”, said Ni Jiangbo, inspector of the Ministry of Housing and Urban-Rural Development.
House renovation means a “blue ocean” valued at least 10 billion yuan for the coatings industry, which undoubtedly will bring numerous benefits to the industry. However, facing such a promising market, the problem of how to win the recognition of consumers and seize the market share has bothered the coatings companies so much.
With the increase of people's disposable income, the change of consumption concept and the improvement of aesthetic taste in China, consumers will have more requirements for the decoration and renovation of residential and public buildings.
Recently, one of my friends is preparing to get married. The couple is planning to repaint an old house given by their parents, and the aging wall is the first problem they met.
Therefore, my friend came to consult me and asked for some brands about house renovation. After learning about their thoughts and requirements in detail, I summed up a few issues that a normal family most concerned about for house renovation.
Ø Well-known Brands Are Preferred
In the beginning, I asked if they had learned about the categories of coatings and compared them. They said that the floor of their house was so low that they should consider damp prevention, so they gave up the wallpaper and wall cloth, and finally chose paintings. All the brands they mentioned are well-known brands in the country. Thus, the popularity and reputation of the coatings brand have become one of the preferred considerations for consumers.
As a semi-finished industrial product, coatings are the rarely-used products for the general consumer. Therefore, when the conditions permit, most consumers will tend to choose well-known brands and functional coatings.
Ø Professional Services
“Does the company offer on-site service immediately after the appointment? What should we prepare for the construction? How should we handle our furniture before?” My friends threw a series of questions at me.
House renovation means more than the products. Actually, product plus technology is the basis, and SERVICE is the core, including timely service, furniture removal protection, professional painting, house clean and furniture back in place, timely communication, etc. In a word, quality products plus professional one-stop services are the decisive factors that ultimately impress consumers.
Ø Green Products
During our conversation, the couple listed several well-known brands and repeatedly asked me the following questions. “Does the paint of the brand have a big smell? Does it contain formaldehyde? Will the included VOC exceed the standard?”
In the network era, smart consumers are accustomed to learning more information online in advance to comprehend the consumer evaluation, quality and service level of major brands. As for the environmental protection of products, consumers tend to trust the scientific data and real experimental evidence.
Ø Construction Speed
As the wedding period is coming, the couple wanted to renovate the house as soon as possible. This is a problem for many families facing while repainting their house.
In fact, the construction speed is not the major problem. The most decisive problem is the environmental protection of the coating products. If the product is environmentally friendly, house-owner can move into the house immediately after repainting. If not, living in the house right away will carry risks.
As the economy develops and the pace of life accelerates, today's consumers prefer efficient and quality service.
Ø Works Acceptance Criteria
Finally, they asked me how to make an acceptance testing after the house renovation.
As a highly professional area, wall painting is unfamiliar for most consumers. How to make an acceptance testing after the renovation is even more confusing. A little carelessness may bring people into the trap and affect their consumer experience. Therefore, after the completion of the construction, a comprehensive, high-standard, rigorous professional acceptance testing allows consumers to enjoy a safe and comfortable life.
In recent years, a batch of brands launched one-stop house renovation services, including Nippon Paint, Dulux, SKSHU, Carpoly, and Maydos, etc. Many paint companies have already sensed the business opportunities and have refreshed their market layout. The repainting market has undoubtedly become the new " blue ocean."
Faced with the huge demand for repainting, coatings companies should enhance brand awareness and reputation, pay attention to product quality and company service, improve professional level and consumer experience. Only by promoting internal strength can the company catch the eyes of consumers and occupy a piece of market share in the fierce industry competition.
In 2020, leading coating enterprises will gather at the 10th Asia-Pacific Floor Fair (CGFF 2020), a highly recognized floor show in China! Flooring Materials consisting of waterborne polyurethane, silicon PU, vinyl sports flooring, coatings, Flooring Machinery, Floor Cleaning Machine, Sport Floor Supplies and so on, will be showcased. Please register right now and prepare yourself for the promising house repainting market in China. For more info, please contact us.
The 10th Asia-Pacific Floor Fair (CGFF 2020)
Date: May 10th-12th, 2020
Venue: China Import & Export Fair Complex
CGFF Organizing Committee
Mobile/WhatsApp/Wechat:+86 131 6964 1676
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Concurrent Trade Shows:
2020 Asia-Pacific Floor Supplies Fair
2020Guangzhou International Paint&Coatings Fair