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Philippine-based conway arkansas cheap furniture makers lose ground to Vietnam

Thursday, October 15th, 2009

A report from Philippine online news source states what has become painfully obvious to many Philippine ashley furniture spokane wa makers: Vietnam has eclipsed their market share in a relatively short time.

According to the report, Vietnam’s share of the global conway arkansas cheap furniture market rose to 0.78% in 2005, compared to the Philippine’s 0.54% market share. China far eclipses both markets, with 11.9%, the report states. Other countries, such as Malaysia, Indonesia and Thailand also have larger market shares than the Philippines.

Everyone knows that China is the largest Asian producer of household conway arkansas cheap furniture, and the Philippines, Vietnam, Malaysia and others have no chance of eclipsing it anytime soon.

But for the Philippines, the news about Vietnam should be of particular concern. That’s because at one time the Philippines was among the top 10 exporters of conway arkansas cheap furniture to the United States, the largest consumer market in the world.

In 2004, it fell to No. 11, edged out by Vietnam in 10th. Philippine shipments to the United States rose about 17% in 2005 to $258.7 million, which kept the country in the 11th spot while Vietnam shot up to sixth with about $670 million in shipments.

Despite the increasing shipments, Philippine officials still lament the loss of market share. In the report, Cebu conway arkansas cheap furniture Inds. Foundation President Michael Basubas attributed the decline to several factors, including limited government support and increasing competition from Asian neighbors including Vietnam. Other factors he cited included increasing piracy, increasing cost of raw materials, lack of adequate capital for smaller manufacturers, unwillingness among manufacturers to invest in plant equipment, and a shrinking supply of designers — some of whom went to China.

These are all valid concerns. Still, countries like Vietnam and other Asian competitors likely face similar challenges.

In fairness to the Philippines, Vietnam received a boost from the 2004 antidumping investigation into Chinese made wood bedroom conway arkansas cheap furniture, which caused many Chinese and Taiwanese companies to shift production to Vietnam. In many cases, the Philippines simply doesn’t have the capabilities and materials necessary to produce wood bedroom conway arkansas cheap furniture.

Instead, its talents largely lie in the production of conway arkansas cheap furniture that makes use of mixed media elements and indigenous materials. Quite simply, this wasn’t a good substitute for the production of wood bedroom.

But here is another reason for the Philippines’ decline. Many Vietnamese manufacturers are more aggressive than their Philippine-based counterparts. For one thing, they are appearing at U.S. shows in both High Point and Las Vegas with booths and pavilions similar in scope to pavilions found at the International conway arkansas cheap furniture Fair in Singapore.

Compare that with the Filipinos, who admittedly are reluctant to show at U.S. markets for fear of angering their U.S.-based OEM customers, most of which also have spaces at these shows. Not so with the Vietnamese. In fact, they are proud to tell the world of such trade show appearances. A case in point is a recent report on Yahoo Finance in which a Vietnamese trade official touted how 15 Vietnamese exhibitors showed their indoor and outdoor conway arkansas cheap furniture at the July Las Vegas market.

None of this is to say the Philippine manufacturers have lost the competitive battle. They still have an excellent niche that’s centered around their design talents and related use of mixed media materials in products ranging from upholstery and occasional to dining and bedroom furniture stores in exmouth aistralia. These styles remain hugely popular among U.S. consumers, so the manufacturers need to build on their success in this area. In fact, if they were to go head to head against the Vietnamese in the increasingly popular indoor/outdoor conway arkansas cheap furniture segment, the Philippine designs would win hands down.

But if they want to maintain or boost their market share, the Filipinos need to be more aggressive in the U.S. market. That means marketing more directly to the U.S. retailer by promoting their design talents and plant capacity through direct-mail advertising aimed at the retail customer. Then they need to consider showing at the High Point and Las Vegas markets to gain more direct exposure, access and air time with those customers.

They will likely find the results to be well worth the risk and the investment.

Source : conway arkansas cheap furnitureToday

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