The magical year 2020 has passed, and we welcome 2021. The unexpected COVID-19 raid on our lives, bringing huge inconvenience to people’s lives and jobs and also bringing opportunities for some industries, such as the Kitchen & Bath industry. Here are some of the news summary about this industry in the year 2020.
1.Order from IKEA Group helps Acrysil’s stock scale new high
Acrysil Limited, the largest manufacturer of “Quartz Kitchen Sinks” in India and Asia, announces its strategic partnership with IKEA Supply AG (Switzerland) for manufacturing and supply of composite quartz kitchen sinks for their global requirement. Acrysil Limited entered into a purchase agreement with IKEA Supply AG (Switzerland), which is a part of International IKEA Group Sweden. IKEA has expertise in distribution and supply of home improvement products. This agreement will help IKEA offer its customers best in class quartz kitchen sinks manufactured by Acrysil Limited.
Comment: Quartz kitchen sink is a very promising industry, this is evident from the strategic cooperation of large enterprises.
2. As 2020 comes to an end, Wayfair’s stock is trading about 180% above the levels seen at the beginning of the year, outperforming the broad market.
Wayfair Inc engages in the e-commerce business in the United States and internationally. It provides approximately eighteen million products for the home sector under various brands. The company offers a selection of furniture, decor, decorative accents, housewares, seasonal decor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold brands.
Comment: The Covid-19 pandemic meant people shopped more online and spent more on making their at-home life more comfortable,
3. Overstock took the crown, with a 746% gain this year, blowing past the competition, all of which gained less than 200%.
The company was in the sweet spot for 2020, as it sells home furnishings online: The Covid-19 pandemic meant people shopped more online and spent more on making their at-home life more comfortable, and peers like Wayfair (W) also soared for the same reason.
Comment: There will be many opportunities for online retail in the coming year.
4. Now That More Americans Can Work From Anywhere, Many Are Planning To Move Away
As coronavirus cases continue to spike and working from home seems permanent, many Americans are planning to set off to live in new places.
An astonishing 14 million to 23 million Americans intend to relocate to a different city or region as a result of telework, according to a new study released by Upwork, a freelancing platform. The survey was conducted Oct. 1 to 15 among 20,490 Americans 18 and over.
Comment: More and more Americans are moving, meaning it will stimulate spending in many home improvement industries, such as the kitchen& bath industry, which will inevitably lead to a rise in sales.
5. Chinese companies shipped $268 billion in goods in November, the most for any single month and more than 21% higher than the same month last year.
China’s exports jumped in November by the most since early 2018, pushing its trade surplus to a monthly record high and underlining how global demand for pandemic-related goods is supporting a growth rebound in the world’s second-largest economy.
Chinese companies shipped $268 billion in goods in November, the most for any single month and more than 21% higher than the same month last year. Import growth eased to 4.5%, leaving a trade surplus of $75.4 billion — the largest on record in data going back to 1990.
Comment: In the global pandemic environment, foreign producers are underemployed and have to rely on Chinese manufacturing, which well controls of the epidemic and with a complete supply chain.
COVID-19 makes some industries depressed at the same time and makes some industries booming. People often say that crisis and opportunity go hand in hand. Wish we all seize the opportunity and welcome the beautiful year of 2021.