Interior Lifestyle China Positions Itself For Growth In China's Consumer Market
Furniture Industry News Update -
Furniture World Magazine
by 2015 China is expected to become the world's largest consumer market with retail sales surpassing $50 trillion, fuelled by fast paced urban development and improved wages.
Messe Frankfurt, the organizer of Interior Lifestyle China reported that as a result of the strong Chinese consumer market, they expect Interior Lifestyle China, the China International Trade Fair for Household Products and Accessories, to attract a record number of exhibitors and visitors to the show when it is held 25 – 27 September 2013 at the Shanghai New International Expo Centre, Shanghai, China.
The four-day show is organised by Messe Frankfurt (Shanghai) Ltd. Commenting on the new venue and date Ms Wendy Wen, Director, Trade Fairs, Messe Frankfurt (HK) Ltd said: “With our new venue and changing the show date to September, earlier in China’s peak sourcing season, Interior Lifestyle China will present a brand new image which reflects China’s fast growing consumer market.”
She continued: “Exhibitors are attracted to the show as it is the only one serving the local retail consumer goods market. We provide a one-stop solution for brands with channel development, marketing and public relations support as well as various onsite fringe programs to educate industry players. All of this creates the synergy necessary to help develop China‘s massive consumer goods market.”
In 2012, total retail sales for social consumer goods reached RMB 20, 716.7 billion (3.21 billion USD), and by 2015 China is expected to become the world's largest consumer market with retail sales surpassing RMB 314,092 trillion (50.41 trillion USD), fuelled by fast paced urban development and improved wages.
For example, the number of Chinese cities housing more than one million people in 2012 was 102 and this will more than double to 221 by 2025. Furthermore, the number of megacities with a population of more than 10 million is expected to increase to eight by 2025.
Ms Wen added: “As wages rise, the consumer’s desire for greater self-expression is being reflected in the emotional connection made with certain consumer products, especially in the lifestyle and homewares sector. In particular, niche brands are often thought of as a way of expressing personality.”
China’s department store sector is still in its infancy with an average of 5.1 department stores per capita indicator of per million population. This is below the US figure of 128 department stores.
“These figures show that there is tremendous growth potential for Chinese department stores and these stores are a key outlet for selling lifestyle and home wares,” Ms Wen explained. “Now more than ever before, it is important for existing and new brands in first and second-tier cities to do everything they can to distinguish themselves in the eyes of the consumer. Interior Lifestyle China offers exhibitors the opportunity to sell their differentiated products to China’s vast consumer market which is becoming more sophisticated every day.”
For more information about Interior Lifestyle China 2013, visit www.il-china.com
Background information on Messe Frankfurt: Messe Frankfurt is Germany’s leading trade fair organiser, with 538* million euros in sales and 1,891* active employees worldwide. The Messe Frankfurt Group has a global network of 28 subsidiaries and approx. 50 international Sales Partners, giving it a presence for its customers in more than 150 countries. Events “made by Messe Frankfurt” take place at more than 30 locations around the globe. In 2012, Messe Frankfurt organised 109* trade fairs, of which more than half took place outside Germany.
Messe Frankfurt’s exhibition grounds, featuring 578,000 square metres, are currently home to ten exhibition halls and an adjacent Congress Center. The company is publicly owned, with the City of Frankfurt holding 60 percent and the State of Hesse 40 percent.
For more information, visit website at: www.messefrankfurt.com
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