With the development of new media, the importance of “crowdfunding” for a start-up or new product is self-evident. For the generation growing up under the Internet, the word "crowdfunding" is no stranger.

Crowdfunding is public fundraising, which refers to the mode of collecting project funds from netizens in the form of group purchase + pre-order. Crowdfunding uses the characteristics of the Internet and SNS to allow small businesses, artists or individuals to showcase their ideas to the public, and to get everyone's attention and support, and then get the financial assistance needed.

Compared with traditional financing methods, crowdfunding is more open, and the ability to obtain funds is no longer the sole criterion for the commercial value of the project. As long as it is a project that users like, they can get the first fund launched by the project through crowdfunding, providing unlimited possibilities for more small businesses or creative people.

There are not a few successful projects for crowdfunding in China. In 2014, a crowdfunding campaign initiated by a listed real estate company with “5000 yuan crowdfunding, 10 fold starting to buy a house” was a great success. Nowadays, "crowdfunding" can be said to have spread to all walks of life. The first test of water crowdfunding in the mahogany furniture industry was last year. From the perspective of the market outlook, the effect was good. This year, the rosewood crowdfunding is even hotter. In April of this year, Master Wang Hongmu launched several new crowdfunding campaigns, and the high-cost crowdfunding price ranging from 9999 yuan to 23888 yuan attracted many dealers and consumers; then, in August 2016, the national brand mahogany furniture At the dealer conference, Hongbaoxuan Redwood also launched a three-piece crowdfunding campaign for the “Diaoyutai State Hotel collection-level furniture – African lobular rosewood Ming-style official hat chair”. The crowdfunding price of 8,000 yuan/3 sets will be available at the conference. Dealer swipe to buy; In October, Dongyang mahogany furniture company CITIC Redwood launched the "You are the boss, I am a worker - full people" campaign, 15999 yuan can buy a set of 6 sets of sofas, such crowdfunding activities really attracted a lot Consumer participation.

For a time, the "crowdfunding" trend struck. Why do mahogany furniture companies choose "crowdfunding"? This is because the 17th Conference of the States Parties and the increase in freight rates and the depreciation of the renminbi have had a huge impact on the mahogany raw material market and the finished furniture market. More and more restrictions have made the price of mahogany climb. Some rosewoods are even more up to 70%. The raw materials of rosewood rose, but the downstream finished furniture was not synchronized. Coupled with the sluggish consumption of mahogany products, most mahogany factories are affected by the general trend and are struggling. Under the “severe winter” market, some of the smarter mahogany factory leaders are constantly exploring new “outlets” – crowdfunding.

At present, the lack of funds is still a major problem for most small and medium-sized mahogany furniture companies. Crowdfunding – a new way for mahogany companies. Redwood crowdfunding can reduce the pressure on intermediate costs and capital turnover on the one hand, and reduce the high inventory brought by blind production on the other hand. For the enterprise, it saves resources and increases profits. However, crowdfunding has its own unique consideration for the traditional industry of mahogany furniture – integrity.

As a block trade goods, the mahogany industry seems to face certain obstacles in this “first demand, post production” customization model. Many people in the industry have unanimously mentioned that more than 100,000 mahogany furniture is different from other products. If the consumer invests funds, what should the promoters do with the money? Is the project promotion guaranteed? What kind of creativity should the company use to get enough? Consumer support? These are all issues that companies need to think about.

In fact, honesty is the biggest concern for crowdfunding. Enterprises adopting the crowdfunding model need to be built on a strong brand foundation. Only with certain brand influence and strong brand strength can they gain the trust and favor of consumers. Therefore, brand building is especially important.

In addition, playing crowdfunding is not only a manifestation and test of corporate strength and innovation, but also a means of operating users. How to mobilize the enthusiasm of fans is a problem that mahogany furniture companies need to think about. From the user's point of view, products or projects that have a certain amount of innovation and can bring real returns to investors are the key to attracting fans. Based on this, if the mahogany furniture enterprises try to raise crowds, they need to be well prepared to better cope with the market test.

Crowdfunding has only just started in the mahogany furniture industry, but many people have tried it. One is corporate crowdfunding, which effectively reduces production pressure and financial pressure. The other is dealer crowdfunding, which can solve the supply problem in the production chain. The prospects for redwood crowdfunding are considerable, but they still need to be improved.

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