Opportunity for furniture producers to fully tap local market hinh anh 1VIFA Home 2019 to take place in HCM City (Source: HomeAZ)

HCM City (VNA) – Wood and wooden furniture have become one of Vietnam’s key export staples in recent years. However, the domestic market is developing strongly and it should be fully tapped.

The assessment was shared by experts at a press briefing held by the Handicraft and Wood Industry Association (HAWA) in Ho Chi Minh City on November 19 to introduce the Vietnam Furniture and Home Furnishing Fair 2019 (VIFA Home 2019).

VIFA Home 2019 will be organised in Ho Chi Minh City from November 28 to December 1 to promote locally made wooden furniture, home decor and handicrafts.

The expo will have 600 booths set up by 120 domestic firms to showcase outdoor and indoor furniture, handicrafts, and household appliances.

Huynh Van Hanh, Vice Chairman of the Handicraft and Wood Industry Association (HAWA), said at the press conference that in addition to a number of large domestic furniture retailers such as Chilai, Home'Furni, Toan Phu Furniture, VietmayHome, and Duy Tan, the fair this year has also attracted prestigious export brands such as Scancia Pacific, Savimex, Donata, Lê Tran, Viet Can, and Sadaco Binh Dương.

“These firms will bring their products to VIFA Home 2019 for domestic customers. This is a good sign for the domestic market, which has high demand for export products,” Hanh said.

He added that with the message ‘Furniture banquet’, VIFA Home 2019 will underline its status as the biggest furniture fair in the country, enabling consumers to find complete packages for their living spaces.

Opportunity for furniture producers to fully tap local market hinh anh 2A wide range of products to be on show at VIFA Home 2019 (Source: HomeAZ)

Hanh stressed that Vietnam has ranked in the world’s top 5 wood and wooden processors and exporters. The country’s wood and wooden furniture export turnover reached 9.2 billion USD in the first 10 months of 2019 and the figure for the whole year is forecast to hit 11 billion USD.

The industry is striving to lift its export earnings to 20 billion USD by 2025, Hanh said.

According to Hanh, with a population of nearly 100 million, increasing incomes, and rapid development of the property market, the Vietnamese market is a promising one for the wooden furniture industry.

Domestic furniture consumption has increased significantly in recent years, and is expected to reach 5 billion USD this year, nearly equal to half of the export turnover, he said, adding this is a “delicious cake” that many foreign furniture producers are targeting.

Meanwhile, many local wood and wooden furniture processors and producers have neglected a large number of customers right on the home ground, Hanh added.

Thai Le Huong, marketing manager at Cozy Living Company, which distributes furniture, said its domestic sales were growing by more than 30 percent a year mainly driven by demand from apartments.

With departments of 70-80 square metres, each family can spend 300-400 million VND (some 13,000-17.4 million USD) on interior decorations, Huong said.

Nguyen Chien Thang, Chairman of the Handicraft and Wood Industry Association (HAWA), said Vietnamese are paying more attention to creating beautiful living spaces.

“They prefer customised furniture, which is the strength of small and medium-sized enterprises,” he added.

Opportunity for furniture producers to fully tap local market hinh anh 3VIFA Home is becoming a chain of events specialised for furniture producers of Vietnam (Source: HomeAZ)

Organised at the Phu Tho Indoor Sport Stadium in Ho Chi Minh City’s District 1 by the Handicraft and Wood Industry Association (HAWA) and the HAWA Corporation, the fair will also feature seminars, game shows, art performances, and lucky draws.

The ASEAN Furniture Industries Council delegation with more than 50 representatives of Southeast Asian furniture associations and businesses will visit the fair to explore business opportunities.

During the course of VIFA Home 2019, major furniture brands will give special offers to local customers, enabling them to purchase products and interior decorations in preparation for the upcoming festivals.

Over the last 10 years the annual expo has acted as a bridge connecting wooden furniture producers, traders, distributors, and retailers./.