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Some home building materials quietly rising prices
In recent months, the home building materials industry has seen a noticeable upward trend in prices, with many companies raising their rates significantly. According to Dong Xinle, a dealer from a well-known sofa brand, the typical price hike for this time of year is around 10% to 15%, but this year, the increase has been more aggressive, ranging between 15% and 20%, with some products even seeing over a 20% rise. "We had to increase the price of certain items by 15% at the end of March," he said. "There are two new models that have gone up by as much as 20% compared to the previous versions."
While there’s still a few weeks before the May Day holiday, some retailers have already started preparing for the promotional season. However, before the sales begin, a wave of price increases has quietly taken place. Some home building materials have experienced a sharp rise, with certain products going up by more than 20%. Many businesses are now focusing on adjusting their pricing strategies ahead of the peak shopping period.
Wen Wentao, a manager at a panel furniture factory in Hubei, explained that rising costs are forcing companies to pass on the burden to consumers. “Everything is getting more expensive,†he said. “Raw materials like aluminum, stainless steel, hardware, paint, and adhesives have all seen significant price hikes.†He noted that last year alone, sponge prices increased by 10%, timber by 15%, and glass by as much as 30%. This year, the trend continues, and in order to maintain profitability, product prices must be adjusted by at least 15%. The pressure to raise prices remains strong, and it's clear that the cost of doing business is becoming increasingly difficult to manage.