Despite Decline in Furniture Industry, Today’s House Furniture Transactions Increase by 30%

Comprehensive Survey of 1,434 Small and Medium Furniture Companies Trading on Oneyearhouse

Last year, when the furniture industry faced difficulties, small and medium-sized furniture companies that joined 'Onul-ui Jip' instead seized growth opportunities. While the domestic furniture retail sales shrank in the fourth quarter of last year due to the sharp downturn in the real estate market and the global economic recession, small and medium-sized furniture companies on Onul-ui Jip grew by 31%.

On the 19th, Onul-ui Jip revealed the results of a comprehensive analysis of the transaction amounts over the past two years of 1,434 small and medium-sized furniture companies that had at least one transaction last year. The average transaction amount of small and medium-sized furniture companies that traded with Onul-ui Jip last year was 314 million KRW. Among them, 23 small and medium-sized furniture companies showed more than 100 times growth in transaction amounts over the past two years, and 107 companies increased their transaction amounts by more than 10 times. This contrasts with the overall shrinkage of domestic furniture retail sales last year. In particular, domestic furniture retail sales in the fourth quarter decreased by 17%.

Kareum Furniture, a solid wood furniture specialist brand located in Gwangju, Gyeonggi-do, renewed all product content last year to fit the Onul-ui Jip channel, resulting in a transaction amount increase of about 81% compared to the previous year. Kim Jong-hyun, CEO of Kareum Furniture, said, "By discussing the improvement directions of major product description pages and content together with Onul-ui Jip, we were able to better understand our customers." Furniture company Furnico, which sells beds, tables, and storage cabinets, also saw its transaction amount on Onul-ui Jip grow 3.3 times compared to the previous year.

Jung Cheol-ho, head of the furniture team at Onul-ui Jip Commerce Division, said, "During the COVID-19 period, as people spent more time indoors, interest in furniture that suits personal tastes increased, and customers experienced unique products from various small and medium-sized furniture companies through the Onul-ui Jip platform." He added, "Although the furniture industry is currently facing difficulties due to external market conditions, Onul-ui Jip will continue to work closely with many small and medium partners to help them meet new customers and grow through Onul-ui Jip."

This content was produced with the assistance of AI translation services.