Decorative wire market: Potential export opportunities

Decorative string lights are essential products in space lighting applications. The sacred electric wires create a symbolic highlight during holidays. According to statistics, this niche has an expected purchasing power of nearly 800 million USD by 2027. Let's find out the export potential of this gentle product model!

1. Current decorative wire market

The wire market is currently developing quite stably with steadily increasing purchasing power from consumers. This is a popular device model and is suitable for current decoration trends.

1.1. Diagram of decorative electrical wiring

Decorative string lights are decorative lights that provide light that covers the entire space and are decorative. We often bring warmth, romance and create interesting highlights. This type of lamp is widely used in interior and exterior decoration because of its flexible operation, utility and high aesthetics.

1.2. Best seller of electric string lights

In the current electric wire market, it can be seen that LED lights are the most popular type of source and the number 1 choice for global customers. When most customers need to buy wires, they buy LED lights. Because it has many advantages over other types:

Especially energy saving
Save 90% electricity
Long lifespan
Environmentally friendly, budget free
Safe to use, does not generate heat
Easily adjust light intensity)
Most smart innovations happen with LED lights

According to Grand View Research's 2018 lighting market report, LED lights account for nearly 50% of the market share with more than 16 billion USD. Demonstrating the strong potential of decorative wires that sellers can invest in long-term development.

den-day-trang-tri-1 Decorative Lighting Market report by Grand View Research, 2018

2. Opportunity for Vietnamese businesses to conquer the international decorative string light market

According to MarketWatch's global business report, the world string light market scale will reach nearly 450 million USD in revenue in 2021. By 2027, the scale is expected to grow to 768 million USD.

Mordor Intelligence said that the decorative lighting market grew at a rate of 6.75%. It is estimated that the global scale will reach 113.08 billion USD this year and increase to 156.74 billion USD in 2029.

Of which, North America is the largest market, accounting for more than 35% of total global revenue, especially the United States, Canada, and Mexico. On the other hand, Asia-Pacific is the fastest growing region.

Population growth, urbanization and tourism help decorative lighting sales in China, India, Sri Lanka, Maldives,... grow strongly and become a large market. Manufacturers can carefully research markets to choose appropriate development directions.

In particular, for LED lights, it is forecast that the market size of this light model will reach 374.45 billion USD by the end of 2035 and grow strongly with a CAGR of 14% in the period 2022-2035 (according to Research Nester ). This is the most potential niche market for decorative string light sellers.

3. How to sell decorative string lights on Amazon

Here are some suggestions for sellers to make this niche business easier and more convenient:

3.1. Invest in products

Product is the core factor that retains customers. Therefore, focusing on product research and customer needs is very important.

Improve product quality

Safety, durability and beauty are the top priorities when choosing electronic products for consumers' decoration. Therefore, before being released to the market, the product needs to be guaranteed quality and safety for customers.

Water resistance and heat resistance are important factors in designing string lights. Because most string lights are used outdoors. Therefore, manufacturers need to use heat-insulating and water-resistant materials for products. For example: using watertight rubber molding material for lamp holders,...

den-day-trang-tri-2 String lights create a romantic living space

In addition, stable light source and long lifespan are also issues that customers care about when choosing to buy lamps. This type of product is used continuously and frequently so it needs to have good quality for a long time.

Besides, the lamp should be designed so that customers can adjust the brightness accordingly and change the bulb. With this versatility and convenience, the product will be more popular with customers.

Diverse in form and type

Decorative string lights are highly aesthetic products, so customers will have high requirements for design. With different tastes in each person, each culture, and each region, creating creative and rich highlights in design will help businesses expand and come into contact with many new and promising markets.

In addition, uniqueness is increasingly popular. Therefore, if they create unique and different designs, sellers will win the impression of customers.

Manufacturers can develop a variety of light bulbs and light strings with different shapes, sizes, materials, and structures. Or change the light color of the lamp to increase the richness of the product.

3.2. Take advantage of peak season

Festivals: Tet, Christmas, Diwali,... are the times of the year when decorative string lights are used the most. Therefore, the purchasing power of decorative string lights during these times is also much stronger.

According to Mayan, the most searched term in the fourth quarter of 2022 was “Christmas decorations.” Among them, the best-selling product is decorative string lights. This is also the top most popular product sold on Amazon in the fall.

den-day-trang-tri-3 On Amazon, decorative string lights, especially LED lights, dominate and cover the Best Sellers in Seasonal Decor category

HTF Market Intelligence also said that the market size of Christmas lights and Christmas decorations in 2023 is worth 8.17 billion USD. With a CAGR growth rate of 5.71%, the scale is predicted to expand to 12.48 billion USD by 2029.

It can be seen that festivals contribute greatly to sales of decorative items, including decorative string lights. Sellers should take advantage of promoting advertising during peak seasons to earn the most profit possible. Here are some tips to increase revenue:

Eye-catching images and videos should be used on product pages. Along with detailed illustrations of usage functions, helping buyers have the most intuitive experience of the product.
Promote product advertising with top keywords: Christmas decorations, Tet decorations,... to reach maximum potential customers.
Prepare a large enough amount of product. Demand for holiday shopping always increases strongly. Sellers should prepare enough goods to avoid running out of goods in the middle, losing the "golden opportunity" to boost sales. That's something sellers shouldn't let happen.

3.3. Catch up and create new trends

Human needs are always increasing and changing. Researching and finding future needs, catching up with new trends and even creating trends will help sellers conquer this market.

For example, Pantone announced Peach Fuzz as the color of the year 2024. Manufacturers can produce string lights that are Peach Full or peach-shaped. Or products designed according to the characters Capybara and Loopy are a hot trend among Gen Z customers.

den-day-trang-tri-4 Some trends this year

4. Conclusion

Decorative string lights are a very competitive market. As a market rich in potential, Vietnamese sellers, in order to compete with international competitors, need to focus on developing the quality and diversity of products and promoting their abilities at golden times. Doing these things well will help businesses rise and affirm their position.

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