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Home Accessories - China - September 2019

Covered in this report

The home accessories market is under pressure from a slowing property market; however, the upgrading need of existing occupants and robust demand from younger consumers will take the market to the next level. As more consumers now show emotional attachment to their houses, they will put more effort in improving their living conditions, adding more personal touches to the home, and even make their home a showcase of their taste in fashion. Since the younger audience is the main force driving spending for home décor, brands should cater to their preference for photo-worthy and customisable design.

“Home has become a place more than just a roof overhead to Chinese consumers and the majority have acknowledged that proper decoration can create relaxing ambience and enhance the living condition. Therefore, Chinese consumers now are more willing to invest in adding a personal twist to their living space, and this is especially true for the post-90s. However, when it comes to home accessories purchase, the practical function and value for money still come first. That doesn’t mean design and style aren’t important. Actually Chinese consumers are having difficulties in matching decorations with large pieces home product like furniture. Thus home accessories brand can consider ushering style consultancy service to guide consumers and encourage shopping for the entire look to generate more sales.”
– Summer Xia, Research Analyst

This report looks at the following areas:

  • Provide home design and style consultation to outstand
  • Seeing is believing
  • Win the heart of younger consumers to win the market

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Table of contents

  1. Overview

    • What you need to know
      • Covered in this Report
        • Excluded
        • Executive Summary

            • The market
              • Figure 1: Value sales of home accessories, China 2014-19
              • Figure 2: Dorm room decoration and renovation posts on RED (小红书), September 2019
            • Companies and brands
              • Intensified competition pushes brands to rethink their strategy
                • Practical benefits and emotional support both are essential
                  • The consumer
                    • Home linens and dining accessories are most welcomed
                      • Figure 3: Home accessories bought, June 2019
                    • Mass home retailing brands are the first go-to place
                      • Figure 4: Types of brand have bought, June 2019
                    • Omnichannel is not the solution to everything
                      • Figure 5: Brand influencing factors, June 2019
                    • Minimalist and oriental styles are attractive
                      • Figure 6: Attractiveness of style tags, June 2019
                    • Work closely with professional home channels to engage target shoppers
                      • Figure 7: Sources of information, June 2019
                    • Decorations can create cosier atmosphere but no need to change it frequently
                      • Figure 8: Home is only a place for basic living functions, August 2018 and June 2019
                      • Figure 9: Attitudes towards home and home décor, August 2018 and June 2019
                    • Family structure have huge impact on consumers lifestyle and home décor purchase
                      • Consumers will stick to their habits for shopping online vs offline
                        • What we think
                        • Issues and Insights

                          • Provide home design and style consultation to outstand
                            • The facts
                              • The implications
                                • Seeing is believing
                                  • The facts
                                    • The implications
                                      • Win the heart of younger consumers to win the market
                                        • The facts
                                          • The implications
                                          • The Market – What You Need to Know

                                            • Solid growth for the past five years
                                              • Sluggish property market might add downward pressure
                                                • Needs for home upgrades and home-leaving young consumers will sustain the growth
                                                • Market Size

                                                  • Steady growth in the past five years and substantial growth is expected
                                                    • Figure 10: Value sales of home accessories, China 2014-19
                                                • Market Factors

                                                  • Slowdown of the property market
                                                    • Figure 11: Area of commercialised residential buildings sold, 2015-July 2019
                                                  • Need for home upgrades continue to be the main driving force
                                                    • Both college enrolment and graduates are on the rise
                                                      • Figure 12: Undergraduate students enrolled, 2012-18
                                                      • Figure 13: Dorm room decoration and renovation posts on RED (小红书), September 2019
                                                  • Key Players – What You Need to Know

                                                    • Competition intensified as more brands entering
                                                      • Making brands more approachable is critical
                                                        • Multi-functional design and genuine marketing campaign will stand out
                                                        • Major Brand Types

                                                          • Mass home retailing brands go head-to-head
                                                            • Trendy lifestyle retailers
                                                              • Fast-fashion retailers offer home fashion
                                                                • Other home retailing brands venture in home décor
                                                                • Competitive Strategies

                                                                  • Get closer to customers
                                                                    • Home accessories for rent
                                                                      • Encourage user-generated sharing on social media
                                                                        • Figure 14: MUJI’s Weibo posts, August 2019
                                                                      • Target children and silver consumers
                                                                      • Who’s Innovating?

                                                                        • Peek inside the real life of chic models
                                                                          • Figure 15: H&M’s At Home With Poppy Delevingne Campaign, August 2019
                                                                        • Speaker and lamp, two in one
                                                                          • Figure 16: IKEA X SONOS SYMFONISK table lamp, August 2019
                                                                        • Streetwear brand launch home collection
                                                                          • Figure 17: Supreme longevity soup set and chopsticks, August 2019
                                                                          • Figure 18: Off-White “HOME” collection, August 2019
                                                                      • The Consumer – What You Need to Know

                                                                        • Living situation plays a critical role
                                                                          • Low loyalty for home accessories brands
                                                                            • Product-related qualities are more important than channel
                                                                              • Younger generation like the oriental style a lot as well
                                                                                • Expertise is appreciated when searching for inspiration
                                                                                  • Practical function is the primary consideration
                                                                                  • Home Accessories Purchased

                                                                                    • Home linens are top purchase
                                                                                        • Figure 19: Home accessories bought, June 2019
                                                                                      • Offline channel remains critical for niche categories and tableware/drinkware
                                                                                        • Figure 20: Purchase channel of home accessories bought, June 2019
                                                                                      • Watch out for the female and younger audience
                                                                                        • Figure 21: Home accessories bought, by gender, June 2019
                                                                                        • Figure 22: Home accessories bought, by generation, June 2019
                                                                                      • Tier two or lower tier cities worth exploring
                                                                                        • Figure 23: Home accessories bought, by city tier, June 2019
                                                                                      • Renters avoid large pieces and pure decorative items
                                                                                        • Figure 24: Home accessories bought, by housing situation, June 2019
                                                                                      • Don’t miss those living alone
                                                                                        • Figure 25: Home accessories bought, by people living with, June 2019
                                                                                    • Type of Brand Have Bought

                                                                                      • Mass home and lifestyle retailers lead the way
                                                                                        • Figure 26: Types of brand have bought, June 2019
                                                                                      • Small brands and fast-fashion brands face uncertainties
                                                                                        • Luxury brands will benefit from lifestyle premiumisation
                                                                                          • Women enjoy shopping from a wider variety of retailers
                                                                                            • Figure 27: Type of brand have bought, by gender, June 2019
                                                                                          • More post-90s consumers bought from lifestyle retailer brands for design
                                                                                            • Figure 28: Type of brand have bought, by generation, June 2019
                                                                                        • Factors Influencing Choice of Brand

                                                                                          • Quality and price are the primary consideration
                                                                                              • Figure 29: Brand influencing factors, June 2019
                                                                                            • Post-1980s are more concerned about design and convenience
                                                                                                • Figure 30: Brand influencing factors, by generation June 2019
                                                                                              • Mass home brands and lifestyle brands enjoy comfortable lead in design, fashion taste and eco-friendly
                                                                                                • Figure 31: Type of brand have bought, by factors influencing the choice, June 2019
                                                                                            • Eye-catching Style Tags

                                                                                              • Minimalist/simple and clean design are most popular
                                                                                                • Figure 32: Attractiveness of style tags, June 2019
                                                                                              • Women prefer trending items
                                                                                                  • Figure 33: Attractiveness of style tags, will attract me, by gender, June 2019
                                                                                                • Instagrammable and retro/vintage design are hot among post-1990s
                                                                                                    • Figure 34: Attractiveness of style tags, will attract me, by generation, June 2019
                                                                                                  • High-income consumers are adventurous
                                                                                                    • Figure 35: Attractiveness of style tags, will attract me, by personal income, June 2019
                                                                                                • Information Channel

                                                                                                  • Professional sources lead the way
                                                                                                    • Figure 36: Sources of information, June 2019
                                                                                                  • Social media connects younger consumers and high earners
                                                                                                    • Figure 37: Sources of information, by generation and personal income, June 2019
                                                                                                  • High earners are more interested in professional sources as well
                                                                                                    • Figure 38: Sources of information, by generation and personal income, June 2019
                                                                                                  • Brands should be more approachable to lower tier consumers
                                                                                                    • Figure 39: Sources of information, by city tier, June 2019
                                                                                                • Attitudes towards Home and Home Accessories

                                                                                                  • Function is more important than style
                                                                                                    • Figure 40: Function versus style, by gender, June 2019
                                                                                                  • Home is more than just a living space
                                                                                                    • Figure 41: Home is only a place for basic living functions, August 2018 and June 2019
                                                                                                    • Figure 42: Home is only a place for basic living functions, by gender and personal income, June 2019
                                                                                                  • Home décor can indeed enhance living environment and experience…
                                                                                                    • Figure 43: Perception of home decorations, June 2019
                                                                                                    • Figure 44: Decoration can enhance living experience, June 2019
                                                                                                  • …but often change is not necessarily essential
                                                                                                    • Figure 45: Perception of home interior, by selected demographics, June 2019
                                                                                                    • Figure 46: It’s not necessary to often change the look of home interior, by selected demographics, June 2019
                                                                                                  • Popular items with a personalised twist will sell
                                                                                                    • Figure 47: Personalisation and trendy home accessories, June 2019
                                                                                                • Online Community

                                                                                                    • Married with child(ren)
                                                                                                      • Want to have a successful career and be recognised
                                                                                                        • Need a place to temporarily escape from the household burden
                                                                                                          • Child-centred
                                                                                                            • Creating a sense of home
                                                                                                              • Married without child
                                                                                                                • Long for financial freedom
                                                                                                                  • With childlike hearts
                                                                                                                    • Multifunction design is a plus
                                                                                                                      • Young singletons
                                                                                                                        • Dreams and worries are similar to the young couple without child
                                                                                                                          • In favour of the study room and bedroom
                                                                                                                            • Close relationship with parents
                                                                                                                              • Subcultural brands can come into the play
                                                                                                                                • Purchase journey
                                                                                                                                  • Online shoppers care more about price and time efficiency
                                                                                                                                    • Those use of both channels make decisions depending on what they want
                                                                                                                                      • Offline shoppers enjoy shop around
                                                                                                                                      • Meet the Mintropolitans

                                                                                                                                        • MinTs made more home accessories purchase
                                                                                                                                          • Figure 48: Home accessories bought, by MinTs vs Non-MinTs, June 2019
                                                                                                                                        • MinTs use both online and offline channel
                                                                                                                                          • Figure 49: Purchase channel of home accessories bought, June 2019
                                                                                                                                        • More MinTs bought from fast-fashion, boutique and luxury brands
                                                                                                                                          • Figure 50: Type of brand have bought, by MinTs vs Non-MinTs, June 2019
                                                                                                                                          • Figure 51: Brand influencing factors, by MinTs vs Non-MinTs, June 2019
                                                                                                                                        • MinTs prefer American style a lot
                                                                                                                                          • Figure 52: Attractiveness of style tags, by MinTs and non-MinTs, June 2019
                                                                                                                                        • Sophisticated MinTs get inspirations from professional and official sources
                                                                                                                                          • Figure 53: Sources of information, by MinTs vs non-MinTs, June 2019
                                                                                                                                        • Test new ideas for the ground with MinTs
                                                                                                                                          • Figure 54: Attitudes toward new ideas and technology, June 2019
                                                                                                                                      • Appendix – Market Size

                                                                                                                                          • Figure 55: Market value of home accessories, 2014-19
                                                                                                                                      • Appendix – Methodology and Abbreviations

                                                                                                                                        • Methodology
                                                                                                                                          • Abbreviations

                                                                                                                                          Home Accessories - China - September 2019

                                                                                                                                          £3,486.28 (Excl.Tax)