Floor price rise is a foregone conclusion

Since the second half of this year, the flooring industry has been hit by a series of rising costs. The prices of sheet materials have gone up, along with increased expenses for paint, hardware, and labor. As a result, floor price hikes have become an unavoidable reality. Mr. Chen, who was shopping for solid wood flooring in a home improvement mall, expressed his frustration: “Last month, I looked at a solid wood floor that had risen by 40 yuan per square meter within just a month. My renovation budget, which I had just finalized, now needs to be adjusted again.” After planning to renovate after the Spring Festival, Ms. Sun changed her mind after hearing about the price increases. She rushed to purchase flooring and even asked the sales staff to include a clause in the contract stating that the manufacturer should not add any extra charges for any reason. “At least this way, I can avoid unexpected costs,” she said. “I think it’s unlikely that floor prices will drop after the Spring Festival.” Ms. Teng, the sole agent of Shenghe Floor in Jinan, explained: “Distributors are trying to absorb some of the cost pressure by cutting their profit margins and selling through small profits but fast turnover. However, if prices continue to rise during a slow market, customers may not be willing to buy.” Manager Liu from Anxin Floor’s Jinan branch added: “The current increase in solid wood flooring prices is mainly due to the continuous rise in raw material costs. Especially for high-end varieties like macadamia, teak, and longan wood, prices have gone up by around 50 yuan per square meter on average.” With these ongoing challenges, both consumers and retailers are feeling the pressure, making the floor price hike a topic of concern across the industry.

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