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1.The scale of office chair market is growing steadily.
Office chairs refer to all kinds of chairs equipped for the convenience of work in daily work and social activities.
We could divide the office chair into a narrow sense and a broad sense. In the narrow sense, the office chair refers to chair with backrest that people sit on when work in the sitting posture. In the broad sense, the office chair is all the chairs used in the office, including boss chair, executive chair, task chair,the guest chair, the conference chair, the visitor chair, training chair and so on.
In recent years, the scale of office chairs in China has grown steadily. According to CSIL data, the size of office chairs in 2019 is 3.675 billion US dollars, an increase of 5% over 2018. In 2020, the size of office chairs is about 3.859 billion US dollars, which continues to maintain a steady growth.
2、 The Covid-19 epidemic situation gives birth to working at home trends
The COVID-19 epidemic and the epidemic blockade have led many companies and employees to work from home, with 30 per cent of people saying they spent more time at home after the outbreak, according to Accenture.
According to Global Workplace Analytics, there were only 1.8 million who operate remote working known as working at home population in China in 2005 and 3.6 million in 2014, with an average compound annual growth rate of 8 per cent. With the continuous popularization of the concept of working at home and the development of Internet technology, the number in China will continue to grow for a long time. According to Euro data, the penetration rate of China' population in 2018 is nearly 0.6%. As a result, it is estimated that the working at home population in China will be 5.38 million in 2018; it is prospectively estimated that the working at home population in China will continue to maintain a growth rate of 8% in 2019, and the group will be about 5.81 million. According to the data of Mob Research Institute, the penetration rate of China's working at home population is nearly 1% in 2020, thus it is estimated that the number in China will be 8.94 million in 2020.
3. The demand for home office chairs will continue to increase in the future.
Combined with the data of the National Bureau of Statistics, Global Workplace Analytics, Yiou, Mob Research Institute, Botai Home prospectus and other data, this paper simply calculates the market capacity of office chairs for the new home office population. According to the Botai home prospectus, the average unit price of the company's office chairs in 2019 and 2020 is about 316.57 yuan and 325.37 yuan per unit. It is prospectively estimated that the market capacity of office chairs for new home-office workers in China will be about 1 billion yuan in 2020.
Compared with the penetration rate of about 18% of the working at home population in the United States, the telecommuting population penetration rate in China is only 1%, and the telecommuting market is in a blue sea, so in the future, with the continuous increase of the telecommuting population in our country, the demand for home office chairs will continue to increase.