Three Major Changes in the Coatings Industry in 2016
In 2016, under intense market competition, the paint industry underwent three major changes:
First, entering the high-end product market. Industry insiders point out that by observing and studying last year's paint market trends and the movements of major paint brands, it is clear that in the future, both first-tier brands and emerging brands will invest heavily in the research and development of high-end paint products. On the other hand, with rising costs and continuously shrinking profits, the pressure on companies is increasing. Therefore, developing high-end products with higher profit margins has become the first choice for many companies.
Second, a shift towards a consumption model that emphasizes both quality and service. Regardless of how society changes, quality and service remain two important factors in product consumption that are difficult for consumers to overlook. The shift in consumer attitudes means that when purchasing paint, consumers are not only focused on the practical value of the product but also pay attention to its quality after-sales service.
This consumption point requires producers to improve productivity, enhance the actual market competitiveness of their products, and improve the competitive environment of paints in the market.
Third, the consumption model emphasizes green and environmentally friendly products. In the current wave of calls for environmental protection, people are not only focused on protecting the environment but also increasingly considering their own safety. As a result, people are placing more emphasis on the environmental safety of paint products.
Especially as the post-80s and post-90s generations gradually become the main consumers, there has been a significant shift in consumption points.
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