The three-year pandemic compounded by the overall downturn in the upstream real estate market and the uncertainty of the national economy have resulted in a successive decline in revenue and shipments for the related home furnishings and mid-sized enterprises affected by the downward inertia. For furnitureย hardware companies in 2023, the biggest challenge is how to plan for quality new development momentum and new growth initiatives in the reshuffle competition among hundreds of companies in the gradually recovering home decoration consumer market.
On February 7th to 8th, NUOMI officially held the “Confidence Towards the Future” Product Strategy and Marketing Summit, as well as the National Distributors Conference. During the conference, NUOMI announced its action plan for products, brands, and channels, achieving comprehensive and multidimensional improvements in research and development, brand, and marketing. This provided a confidence boost for distributors and the industry at the beginning of the year.
Product Confidence
Pushing high-quality and intelligent new products to awaken consumer upgrading
At the Product Strategy and Marketing Summit on the first day, NUOMI’s Product Marketing Consultant, Jin Jiulong, explained the changes in consumer psychology for national customer groups in the new era, and analyzed the brand and marketing strategies of competitors in recent years. The focus was on deducing the key target actions for NUOMI and its distributors in 2023.
At the product strategy conference, several NUOMI lecturers took to the stage to share market trends and research and development directions for different product categories, and to analyze the upgrade highlights of the six major system products. During the product tasting session, the distributors personally experienced the charm of the new products, deepening their understanding of NUOMI’s product strength and increasing their confidence in the subsequent market development.
In recent years, as part of NUOMI’s forward-looking layout of the “whole house hardware chain”, the NUOMI product system has achieved independent research and development and production, with the product line becoming increasingly comprehensive and rich.
Currently, NUOMI has achieved one-stop delivery of the whole-house hardware solutions for cabinet functional hardware, wardrobe storage hardware, precision sinks, basic hardware, intelligent lighting, and high-end aluminum applications. NUOMI also has a differentiated advantage of “four-same” in style, color, quality, and brand, which breaks through the homogenized hardware design.
In 2022, NUOMIย will lay the foundation, and in 2023, NUOMI will make even greater efforts. NUOMI’s multi-product launch will satisfy the hardware needs of more professional customers and high-end consumer groups with higher quality-price ratio, customized designs, and trendy styles. This will also enable dealers to have differentiated advantages in the market and promote performance growth.
Brand Confidence
Renewal and transformation, comprehensive brand upgrade
Where does NUOMI’s “confidence” come from? From multiple on-site strategic speeches and sharing, we can gain insight into NUOMI’s new development trends.
In the view of NUOMI’s general manager Huang Jianrong, the continued growth of NUOMI in 2022, despite the overall downward trend in the industry, is not easy to achieve. After the relaxation of the pandemic, faced with a market environment of slow demand growth and oversupply, the industry is undergoing a reshuffling competition, and only by competing can one survive and have a future. In recent years, NUOMI has focused on enhancing its product competitiveness, brand influence, sales guarantee, and service communication, in order to train its internal strength. With the market now ready, NUOMI is ready to face the competition and take the initiative to attack.
In an uncertain environment, brands are the best immunity.
NUOMI’s brand marketing manager, Liang Xiaowen, shared that the home furnishing market has shifted from a supply-driven, incremental expansion model to a demand-driven, zero-sum game, with a focus on retaining existing customers rather than acquiring new ones. NUOMI itself has a good reputation in the industry, and in the future, the focus will not only be on building brand awareness, but also on reputation.
To this end, NUOMI will continue to differentiate its brand and use a matrix approach to communication, with a focus on high-end taste and an international brand tone that will be present in all content and activity outputs, achieving brand upgrades, warming, and empowerment for NUOMI and its dealers in future market development.
Marketing Confidence
Focus on blasting key areas, comprehensively excavating channel potential
The home furnishing industry requires offline channels for implementation in all aspects, from customer acquisition, contract signing, design, installation, to service. The importance of channels is self-evident, and it is also where each company competes fiercely.
Although the economy is gradually recovering, fragmentation of traffic, intensifying competition in the market, high operating costs, and pressure on dealers’ store turnover still exist. Consumer confidence repair still needs time, and the market environment for this year requires a “cautious optimism, fully nervous” approach.
According to Luo Wei, Director of Domestic Channels at NUOMI, the lifting of pandemic restrictions indicates that no external factors can interfere with or prevent NUOMI’s business activities, but it will not prevent competitors either. There is no time left for practicing, everyone needs to move forward and train their skills at the same time.
Based on brand pulling force, NUOMI will fully tap the potential of channels, actively go out, create a community of shared interests and a community of shared destiny among manufacturers. NUOMI will always be the solid backing for its dealers and provide them with the most abundant and solid ammunition to fight the future.
Another highlight of the conference was the awarding of honors and the holding of a grand authorization ceremony for dealer partners who work together to expand their territory.
In 2022, a large number of advanced personnel emerged from NUOMI’s national dealer team. They saw opportunities, rose to the challenge, dared to innovate, actively explored new channels, and conveyed the power of trust to their peers, working together to achieve counter-trend growth for NUOMI. In 2023, NUOMI said it will continue to work with dealers to build a high-quality development pattern and quickly seize development opportunities in the incremental market re-emerging under consumer recovery.
With the successful conclusion of the 2023 ” Confidence Towards the Future” Product Strategy and Marketing Summit, as well as the National Distributors Conference, a new battle in the home furnishings industry has begun.
It is clear that in 2023, NUOMI will lead the charge for change, with accelerated product iteration and upgrades, a more dynamic brand, and the release of brand momentum to stimulate growth in performance. NUOMI will leverage its advantages in the industry to give dealers more confidence to seize a larger market share and further drive the development of the furnitureย hardware industry.
