Abstract
The COVID-19 pandemic has had a major impact on forest product markets and the forest product industry, and has also seriously affected the sales of forest products. This research aimed to analyze people’s preference for wood furniture and make policy recommendations. We examined the impact of the pandemic on consumers’ preferences for wood furniture from the perspective of accounting. Taking the accounting data of wood furniture enterprises as the research object, through the translog revenue function, and using the relationship between revenue and consumption in economics, we found that the COVID-19 pandemic has reduced consumers’ preferences for wood furniture, but the decline in preference is smaller for wood furniture produced by extra-large furniture manufacturers. This study contributes to the literature and in view of our research results and the severity of the COVID-19 pandemic, we provide policy suggestions for the related governmental agencies and wood furniture manufacturers, in this special environment, that can reduce the negative impact of a pandemic on the wood furniture industry.
Highlights
The COVID-19 pandemic has had a huge impact on the economy, the environment, and most human activities [1], and an economic downturn is evident in almost every country [2]
In response to the export risks of international orders caused by the COVID-19 pandemic and the furniture export dilemma caused by traffic restrictions, we have proposed specific measures for furniture companies to consider
The production function of furniture company is as follows: y = f ( x1, x2, x3, a, d) where y is the sales of the furniture company, x1 is the number of management posts in the furniture company, x2 is the number of R&D posts in the furniture company, x3 is the number of ordinary positions in the furniture company, a is the investment in fixed assets, and d is the R&D investment of furniture enterprises
Summary
The COVID-19 pandemic has had a huge impact on the economy, the environment, and most human activities [1], and an economic downturn is evident in almost every country [2]. Since the outbreak of the COVID-19 pandemic, researchers and policymakers have been interested in research on the impact of the COVID-19 pandemic on industries, and many studies have analyzed industry data. The COVID-19 pandemic has had a significant impact on people’s consumer behavior and industrial conditions in developed markets. The above are the reasons we have a strong interest in studying the impact of the COVID-19 pandemic on consumer preferences related to the furniture industry in China, an emerging market
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