Against the backdrop of continuous global supply chain transformation, hybrid sourcing for furniture has gradually become the mainstream direction of industry development.
As a pivotal exhibition in the home furnishing industry, the China International Furniture Fair (CIFF) provides home furnishing enterprises with a brand-new procurement solution through its innovative online-to-offline (O2O) integration model.
I. The Value of Hybrid Sourcing
Hybrid Sourcing refers to a procurement model that combines offline and online procurement channels. It integrates the convenience of online procurement with the experiential advantages of offline procurement, thereby optimizing the procurement process.
The core driver behind hybrid sourcing emerging as a future trend lies in the growing uncertainty of the market environment. Global supply chains are confronted with multiple risks such as geopolitical conflicts and natural disasters, making single-source procurement highly vulnerable to disruptions. In contrast, hybrid sourcing can effectively diversify risks and ensure the security of enterprise procurement.
In addition, technologies such as big data, artificial intelligence, and cloud computing provide technical support for online procurement, enabling efficient furniture supplier screening, price comparison, and order management through online channels.
II. The Construction of CIFF’s O2O-Integrated Hybrid Sourcing Model
(1) Core Advantages of Offline Exhibitions
CIFF’s offline exhibition stands as a benchmark event in the global home furnishing industry. It gathers a vast array of high-quality home furnishing brands and suppliers worldwide, showcasing the latest products, technologies, and design concepts, and serves as a centralized and intuitive procurement platform for buyers.
Buyers can have close access to products on-site, conduct face-to-face communication with suppliers, and carry out business negotiations and cooperation signings. Furthermore, offline exhibitions provide a vital venue for industry information exchange and technical seminars, offering support for procurement decision-making.
(2) Innovative Expansion of Online Platforms Breaks Boundaries
To adapt to the digital trend, CIFF has actively developed an online business matching platform — click2connect — to help industry insiders expand their procurement channels.
The CIFF online platform click2connect integrates massive furniture supplier resources and offers one-stop procurement services including product display, supplier search, online communication, and order transactions. Buyers can browse product information anytime and anywhere via the online platform and conduct initial communication with suppliers. Meanwhile, leveraging big data technology, the online platform provides personalized product recommendations and supplier matching services, helping buyers quickly find partners that meet their needs.
(3) Collaborative Mechanism for In-depth O2O Integration
- The online platform and offline exhibition realize data interconnection, which provides a reference for accurate matching during offline exhibitions. Transaction data and customer feedback from offline exhibitions can also be uploaded to the online platform to optimize online services and product recommendations.
- Buyers can first conduct preliminary screening through the online platform to identify target suppliers and products, then conduct on-site inspections and in-depth communication at offline exhibitions. Alternatively, after visiting offline exhibitions, they can follow up on subsequent orders and complete transactions via the online platform, achieving a seamless connection throughout the procurement process.
III. The Industry Impact of CIFF’s O2O Integration Model
(1) Value for Buyers
- The efficient screening and matching functions of the online platform reduce the time and cost for buyers to search for suppliers, while the centralized display at offline exhibitions improves the efficiency of buyer-supplier matching.
- Conducting multi-channel evaluations of suppliers through both online and offline channels enables a comprehensive understanding of suppliers’ strength and credibility, thereby reducing procurement risks.
- CIFF’s O2O platforms gather high-quality global resources, allowing buyers to access more emerging brands and innovative products and expand their procurement channels. Meanwhile, participating in industry activities at exhibitions and accessing trend analysis on the online platform helps buyers keep abreast of industry development dynamics, providing support for enterprise product upgrading and innovation.
(2) Value for Suppliers
- The online platform breaks geographical constraints, helping suppliers reach more global buyers and expand their market share. Offline exhibitions, on the other hand, serve as an important window for suppliers to showcase their brand image and attract high-quality customers.
- Suppliers can implement targeted marketing through the online platform by recommending products based on buyers’ needs, while offline exhibitions enable face-to-face in-depth marketing to improve customer conversion rates.
- The online platform allows suppliers to respond promptly to buyers’ inquiries and order requests, providing efficient after-sales services. Offline exhibitions, meanwhile, help suppliers establish closer cooperative relationships with buyers.
IV. Future Outlook for Hybrid Sourcing
In the future, CIFF can further deepen O2O integration to create an immersive procurement experience. It can enhance its big data analysis capabilities to provide more accurate matching services and market forecasts for buyers and suppliers. Additionally, expanding cross-border procurement services will help home furnishing enterprises integrate into the global supply chain and achieve optimal resource allocation on a larger scale.