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As the Spring Festival approached in 2013, it became clear that "innovation" and "promotion" were at the heart of discussions among cabinet companies during major conferences. These topics were central to their strategic planning and market forecasts for the year ahead.
In 2012, the cabinet industry faced significant challenges due to external economic pressures and domestic real estate regulations. The impact on the sector was undeniable. Looking ahead to 2013, even without official predictions, market trends, import/export data, and consumer demand all pointed to one conclusion: innovation would be key for survival and growth.
"If you don’t change, consumers will forget you. Just look at what happened to Nokia," said Mr. Liu, a senior executive from a cabinet company. He emphasized that evolving with consumer needs is essential. Innovation, he explained, isn't limited to product design—it also includes team building, management strategies, and technological advancements.
From 2013 onward, some cabinet companies began exploring new areas, such as integrating kitchen appliances with traditional cabinet manufacturing. Many also ramped up R&D efforts to develop innovative products that could stand out in a competitive market.
While innovation was crucial, promotions remained a dominant strategy. "Unless something unexpected happens, 2013 won’t be much different from 2012. Promotions will still be the main focus," said Mr. Wang, an industry expert. In 2012, cabinet companies experimented with various marketing approaches, including brand partnerships, factory group sales, community engagement, and social media campaigns. The methods were diverse and aimed at boosting sales at all costs.
According to an industry insider, promotions were often seen as a last resort. While real estate regulations hadn’t eased, the market wasn’t entirely frozen. Rising housing prices meant that buyers were still active, but the connection between a strong real estate market and home furnishings like cabinets wasn’t always direct.
Consumers had become more informed and cautious. "Now, people are always watching for promotions. They only buy when there's a deal. When things are calm, they wait," said Mr. Lin, a sales director at a cabinet company.
In 2013, companies not only focused on innovative marketing activities but also expanded their retail presence. Building on previous efforts, many adopted a "third-degree marketing" approach—enhancing brand awareness, channel expansion, and store coverage across multiple dimensions. This comprehensive strategy aimed to strengthen their position in the market and better meet the evolving demands of consumers.
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