In recent news, the Municipal Commission of Commerce released statistical data revealing that 11 companies involved in the furniture trade-in program sold over 200,000 units of cabinets, sofas, beds, tables, and chairs, generating sales of 1.305 billion yuan. For the flooring industry, trade-in initiatives are not a new concept. In fact, floor trade-ins have also been introduced in some markets.
The idea of replacing old furniture to boost sales has gained momentum. Earlier this year, the Municipal Commission of Commerce announced an 11% growth target for the furniture trade-in sector, aiming to reach 85.5 billion yuan. However, the current data shows that the sector has far surpassed this initial goal. According to the Commission, since June last year, the 11 participating companies have traded in 205,626 units of four major furniture categories—cabinets, sofas, bedding, and tables and chairs—resulting in 1.305 billion yuan in sales. This accounts for 31% of the total sales of these four types of furniture. The sales of each category increased by 22% year-on-year, with individual product lines seeing up to an 18% rise in sales.
As a key strategy to stimulate consumption, Beijing piloted a one-month furniture trade-in policy in 2012. The results showed that during the pilot period, furniture trade-in activity boosted the city’s overall furniture sales for the month by 11.9%.
According to the Secretary-General of the Beijing Market Association Home Furnishing Branch, replacing old floors with new ones can reinvigorate consumer spending and provide a reason for people to discard outdated building materials. As these materials are replaced, it helps consumers move away from older, less environmentally friendly options, contributing to better environmental protection and resource conservation.
It was reported that the "trade-in" program for flooring stores previously involved a process where, upon delivery of the new floor, customers would fill out a "floor recycling form" and hand over their old floor to the merchant for recycling. However, experts have pointed out that while the "trade-in for new" model is an effective way to address the issue of old flooring, it also increases the operational costs for flooring dealers, which may reduce their enthusiasm for such programs.
"Some old floors have no value for recycling, making the trade-in process difficult to implement on a large scale," one expert noted. "This kind of initiative is more of a promotional tool. Merchants might consider running it if they have enough profit margin, but I believe most online-only retailers who don’t have sufficient margins will avoid such activities."
Overall, while trade-in programs have shown promise in boosting sales and promoting sustainability, their practicality and long-term viability remain subjects of debate among industry professionals.
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