In July, listing of Pinduoduo was hotly debated by the Chinese netizens, which caused the crazy spreading of the word “consumption demotion”. Pinduoduo is a platform lowering the product prices by depending on group purchase, and there are many fake products and low-quality products on the platform but it has been favored by the people in the third-tier and fourth-tier cities in China. The sudden popularity of Pinduoduo also revealed that the Chinese consumers began to enter the consumption fatigue period and would be not willing to buy the expensive products any longer.

In August, the listed furniture enterprises successively announced the interim reports. The sector of customized furniture with the surprising increase speed generally slowed down this year: the customized furniture leading enterprise Oppein had the operating revenues of RMB 4,845,000,000, with the year-on-year growth of 25.05%. Few of other Chinese furniture enterprises were increased by more than 30%.

According to the interim reports of the listed enterprises of traditional furniture, their operation status was not optimistic as well; for example, influenced by the trade war initiated by the US, Mlily’s performance decreased sharply. Currently, the listed furniture enterprises’ performance has generally decreased, which has presented depression of the whole industry, and many small and medium-sized furniture enterprises in China stepped into the severe winter early.

 (Source: JJgle.com)