After fierce competition in the market in 2017, the competition in the coatings industry has intensified, and the coating industry has been changing in response to the situation. This has led to the following seven trends:
01 Entering the High-end Product Market
According to industry insiders, by observing and studying the market conditions of the paint market last year and the trends of major paint brands, in the future, both front-line and emerging brands will vigorously develop high-end paint products. On the other hand, as costs rise and profits continue to shrink, business pressure continues to increase. Therefore, research and development of high-end products with higher profits have become the first choice for many companies.
02 Converting Consumption Patterns to Both Quality and Service
No matter how the society changes, quality and service are two important considerations for product consumption, which is difficult for consumers to change. The change of consumer's consumption concept makes consumers pay attention to their high-quality after-sale service and service while paying attention to the practical value of the product when they purchase paint. This consumption point requires that enterprise producers must increase their productivity, enhance the actual market competitiveness of their products, and improve the paint's competitive environment in the market.
03 Focus on brand management
The paint industry has maintained relatively rapid development in recent years, which also means that the industry's internal competition has become increasingly fierce, and it is very important to pay attention to brand building. At present, there are already a few enterprises with more advanced awareness and begin to pay attention to this one, creating their own brand characteristics and increasing the visibility of their products.
04 Strengthen Internet Marketing
With the continuous development of the Internet, the paint industry needs to break through the traditional marketing model, pay more attention to online marketing, use new media to strengthen the brand's publicity, and increase consumer awareness of the brand.
05 Increased demand for customization
Personality customization has become a boom in other industries, and the paint industry should also learn relevant experience from it. Especially in the aftermath of the 1980s and 1990s, when consumption has become dominant, the demand for personalization will inevitably increase. Therefore, customized products will certainly be the future development trend.
06 Innovation enhances the degree of difference
The paint industry is currently faced with serious homogeneity issues, so that consumers are often overwhelmed at the time of purchase. Affected by this, paint companies need to have more innovations in the future, and they can also do finesse in their development strategies, and then go bigger and seek differentiation in their strength.
07 consumer style pays attention to green environmental protection
The seventh and most crucial point is that under the circumstances where the country pays close attention to environmental protection, people will begin to think more about their own safety while protecting the environment. Therefore, people began to pay more attention to the environmental protection of paint products. The paint industry should produce more environmentally friendly and healthier products.
Only by doing so can we attract more consumers to be able to make the brand bigger and stronger, so that the industry can achieve sustainable and healthy development. The industry believes that during the 13th Five-Year Plan period, the construction of affordable housing around the country and the need of industrial production for water paint not only created a good market environment for water paint, but also created a prerequisite for technical innovation of water paint.