The home furnishings and home decoration industries have faced significant pressure due to fluctuations in the real estate market. However, with the Chinese government’s introduction of supportive policies, the real estate sector in China is showing signs of recovery. People wonder if 2024 will bring positive changes and renewed growth as the market stabilizes. This residential industry conference provided the answers.
The seventh T20 Summit of the Residential Decoration and Renovation Industry and the fifth Supply Chain Conference of the Residential Industry officially kicked off on November 1st in Guangzhou, running for two days. Organized by the Residential Industry Branch of the China Building Decoration Association, the event was co-hosted by Xingyi Decoration, Huaxun Decoration, Guangdong Mingjiang Decoration, and Jiuyi Decoration. Yu Hai, President of Ctube Industry Company, was invited to attend, joining industry leaders and experts from across the country to discuss how to stay true to their development strategies and push past existing limitations through innovation in the evolving market landscape.
Ctube is committed to producing high-quality, efficient, and eco-friendly safety conduit systems. The company offers nine product lines that serve diverse sectors, including home decoration, municipal projects, and photovoltaic solar energy. Ctube was one of the first in the industry to adopt the European 6P environmental quality standards, and its products are certified by UL, AS/NZS, CSA, CE, IEC, and ROHS. Its LEENG brand meets the American toy-grade ASTM F963 standard, cementing Ctube’s reputation as a leading brand in eco-friendly electrical conduits in China.
“Upholding fundamental principles and breaking new ground” is not only a key concept in China’s national governance but also the central theme discussed on the first day of the conference. At the opening, Wang Zhongqi, President of the China Building Decoration Association, emphasized the importance of this concept, especially in light of the current challenges facing the industry. In a market marked by slow growth, fierce competition, and reduced consumer demand, he noted that only by staying on the right course and continually innovating can companies grow stronger. Throughout the conference, leaders from various enterprises also shared their insights on how to maintain the correct direction while driving innovation.
Dai Jiangping, Chairman of Jinzhao Decoration Group, gave an in-depth presentation on the “Design Standards for Age-Friendly Home Decoration and Renovation.” He highlighted that home renovation and decoration for elderly households is emerging as a new opportunity within the home decoration industry. As standards in this area continue to improve, he expressed hope that more companies will come together to capitalize on these growth opportunities.
At the conference, the topic of “Learning from Pang Donglai” generated a lot of interest. Despite the difficult conditions faced by most retail companies, Pang Donglai has managed to achieve counter-cyclical growth, with sales expected to surpass 15 billion yuan this year, a remarkable achievement in the industry. To help home decoration companies learn from Pang Donglai’s success, the conference invited Fu Zixin, an expert who specializes in studying Pang Donglai. He delivered an in-depth analysis of the core values and strategies behind Pang Donglai’s diversified operations, providing valuable development insights to the attending companies.
The summit also included a high-level dialogue centered on the theme “How Home Decoration Companies Can Transition from Acquiring Customers to Winning Their Hearts.” Secretary-General Hu Yanan of the Residential Industry Branch of the China Building Decoration Association, who emphasized that successful business models prioritize long-term development and strive for excellence. In contrast, models that focus on short-term gains often encounter significant issues. The success of Pang Donglai has sparked considerable reflection within the home decoration industry.
Leaders from leading decoration companies came together for in-depth discussions and case analyses. They collaboratively explored the core values of home decoration and examined how to apply Pang Donglai’s successful model within the industry. This dialogue offered valuable insights and guidance for the transformation and innovative development of the home decoration sector.
On the second day of the conference, the focus shifted to how companies can thrive in the new era. Zhang Jingyue, Vice President and Secretary-General of the China Building Decoration Association, emphasized in his opening remarks that the home decoration industry has entered a new phase. For companies to survive and succeed, they must excel in two key areas: internally, they should clarify their mission, with design as the guiding principle, products as the foundation, and a commitment to high-quality delivery; externally, they need to pay close attention to important factors such as market trends and consumer insights.
The key to external awareness lies in learning from the wisdom and experiences of others to quickly address problems and avoid missteps. Retail consulting expert Huang Biyun, in her speech titled “The Path of Retail Kings in a Low-Temperature Market,” guided the audience through a deep analysis of the rise of popular brands such as Pang Donglai, Sam’s Club, and Muji. This presentation broadened the perspectives and inspired the thinking of the companies in attendance.
Eight industry leaders participated in a dialogue centered on “The Evolution of the Home Decoration Industry in a Low-Temperature Market.” They examined market changes from various perspectives, including consumer needs, product innovation, customer acquisition strategies, cash flow management, digitalization, traffic acquisition and operations, and supply chain efficiency. Each leader contributed solutions based on their own experiences and practices.
At the conference, Wang Suo, Chairman of Meihouwang Home Decoration and a strategic partner of Ctube, delivered a speech titled “The Secrets of Meihouwang’s Growth.” He emphasized that strong performance stems from the team, which relies on effective systems; these systems are grounded in the company’s culture, which in turn reflects the founder’s original intentions. He asserted that the future belongs to companies that are highly professional, and maintain high employee satisfaction.
In the following, Lu Jinhui, Vice President of Arrow Home Group, discussed “Product Innovation and Service Upgrade: Empowering Home Decoration Companies.” Yao Ya, General Manager of Holike Whole House Customization Center, presented “Holike’s ‘Five Goods and Two Easy’: Building a New Value Chain.” Chen Yi, General Manager of Marketing at Fangtai Group, spoke about “Creating Happy Kitchens for Chinese Families,” and Li Jing, Founder and President of Fanke Home Decoration, addressed “Expanding Growth Opportunities in the Home Decoration Industry.”
As the home furnishings industry undergoes deep transformation, store format innovation has become an essential trend for development. To clarify the systematic approach to store format innovation and provide guidance for home decoration companies, the summit invited several industry leaders with notable achievements in new store formats. These leaders included Li Rong, Chairman of Red Ants Decoration Group; Bai Jie, Chairman of Life Home; Zhang Hua, Chairman of Tangka Decoration; Huang Xiaofei, Chairman of Xibainian Decoration; Zhang Yi, General Manager of TianTan Decoration; and Liu Bo, General Manager of Brothers Decoration. They shared valuable insights and experiences to help home decoration companies make informed strategic decisions regarding their store formats.
Leaders from Mingshi Decoration, Landuo Integrated Decoration, Li Xiang Home, Chengjia Home, U Home Workshop, and Da Gaizao Home explored the theme “Partial Renovation: Finding Growth in Existing Markets.” They emphasized that partial renovation differs from traditional full-scale renovations and necessitates new approaches and solutions to enhance the delivery process. Currently, partial renovation is evolving toward digitization, industrialization, greener practices, and standardization, with modular construction emerging as a key strategy for capturing market opportunities. Secretary-General Hu also underscored the significant potential and bright future of modular construction in the partial renovation sector.
Ctube’s modular wiring conduit installation technology was specifically developed to support modular construction. Compared to traditional methods, this technology is more environmentally friendly and efficient, offering comprehensive product support. It significantly enhances the quality and efficiency of hidden engineering work, providing strong backing for modular partial renovation projects. We look forward to empowering more home decoration companies with this innovative technology in the future.
Although the current situation is challenging, it is crucial to remain steadfast in our corporate values. Despite the difficulties ahead, we must continue to strive towards a brighter future. The success of the conference has created a new platform for industry peers to connect and exchange ideas.
Ctube is honored to participate in the T20 Night. President Yu Hai congratulated everyone on the successful conclusion of the conference, emphasizing that Ctube will always prioritize customer value, stay true to our original aspirations, uphold the right path, and continue to innovate. We are committed to deepening our collaboration with home decoration companies and exploring the endless possibilities within the industry together.
Ctube will embrace change with an open attitude, continue to lead industry trends, and work alongside our peers in the home decoration sector to create a win-win situation. Our aim is to transform every bit of trust into an exceptional living experience.
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