Floor price rise is a foregone conclusion

Since the second half of this year, the flooring industry has been facing a wave of price hikes. The rising costs of sheet materials, paint, hardware, and especially labor have made it increasingly difficult for manufacturers and retailers to keep prices stable. As a result, floor price increases have become almost inevitable. Mr. Chen, who recently visited a home improvement store to buy solid wood flooring, expressed his frustration: “Last month, I saw a solid wood floor priced at 200 yuan per square meter, but by this month, the price had gone up by 40 yuan. My renovation budget, which I just finalized, now needs to be adjusted again.” Ms. Sun, who had planned to renovate after the Spring Festival, heard about the price hike and decided to act quickly. She rushed to purchase flooring and even asked the sales team to include a clause in the contract stating that the manufacturer could not increase the price for any reason. “I don’t want to be caught off guard again,” she said. “If the price goes up after the festival, I’ll be in trouble.” Ms. Teng, the sole agent of Shenghe Floor in Jinan, explained the situation from a business perspective: “Distributors are trying to absorb some of the cost pressures by reducing their profit margins and selling through small profits but fast turnover. However, if prices go up in a weak market, customers may not be willing to buy.” Manager Liu from Anxin Floor’s Jinan branch added, “The current surge in solid wood flooring prices is mainly due to the rising cost of raw materials. High-end varieties like macadamia, teak, and longan have seen an average price increase of around 50 yuan per square meter. This trend is expected to continue as supply chain issues and material shortages persist.” With demand still strong despite the price increases, many consumers are choosing to buy sooner rather than later, fearing further hikes in the near future. The flooring market is now more cautious, with both buyers and sellers adjusting their strategies to navigate the uncertain economic climate.

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