The report titled “India Online Furniture & Home Décor Market Outlook to FY'2027 - Driven by Expanding Customer Base and Increasing Government Initiatives to Promote Furniture Industry” provides a comprehensive analysis of the potential of online furniture & home décor market in India. The report covers various aspects including revenue generated from online furniture & home décor market, its segmentations viz By Product Category (Furniture and Furnishings & Home Décor), By Furniture Items (Beds, Sofa Sets, Dining Furniture, Chairs & Tables and Others), By Furnishings & Home Décor (Textiles, Table Décor & Wall Décor, Mattresses, Lighting and Others), By Region (Tier 1, Tier 2 and Tier 3) By Commercial and Personal Usage, major trends and development, issues and challenges, technological advancements and competition analysis. The report concludes with market projections for future of the industry including forecasted industry size by revenue along with analyst recommendations and key market opportunities.
India Online Furniture & Home Décor Market Overview
and Size
India Online Furniture & Home Décor market is in a high growth
phase, having registered a six-year CAGR of xx% (FY’2016-FY’2022P) as the total
value of sales increased from ₹ xx Cr in FY’2016 to ₹ xx Cr in FY’2022P. There
are a number of growth drivers which has resulted in expansion of the market;
these include increased digitization, increasing demand in Tier 2 and Tier 3
cities, work from home culture, government initiatives, and emergence of new
players in the online furniture & home décor ecosystem. The COVID-19
pandemic has also pushed the demand in the market as the need for social
distancing has forced people to rely on online shopping. Rising adoption of tech
advancements such as 3D modelling, AR and VR by leading players has also helped
in increasing the customer base for online shopping.
India Online Furniture & Home Décor Market Segmentations
By Product Category (Furniture & Home Décor):
Furniture items
constitute significant share in the online retail market of India in terms of sales
revenue in the year FY’2022P. One of the primary factors driving the growth is
the work-from-home culture adopted by the corporates leading to an increase in
the demand for multifunctional furniture.
By Furniture Items (Beds, Sofa Sets, Dining
Furniture, Chairs & Tables, and Others): Beds contributed ₹ xx Cr revenue in FY’22P and are
dominating within the online furniture sales as the number of households are
increasing and the average ticket size is comparatively very high. However, sofa sets
and dining furniture are also contributing to a significant share in the
market.
By Home Décor Items (Textiles, Table Décor &
Wall Décor, Mattresses, Lighting, & Others): In terms of home décor items, textiles have
captured the majority of the market share as significant sales revenue is
generated through horizontal e-commerce platforms such as Amazon & Flipkart.
Moreover, it includes products such as linen, curtains, cushions & covers
which are highly demanded.
By Region (Tier 1, Tier 2 and Tier 3 cities): Tier 1 cities dominate the online furniture and home decor
sales in India as the population in these cities is most tech savvy and a high
personal disposable income.
By Usage (Personal & Commercial): Online sales for personal usage has dominated the
market in the previous few years. However, growth of corporates, retail, hospitality
and healthcare sectors is expected to raise the demand for the commercial real
estate and would provide a boost to the online furniture sales in India.
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Competitive Landscape of India Online Furniture
& Home Décor Market
The competition in the online furniture
& home décor market in India is fragmented wherein horizontal e-commerce
platforms hold the majority of the share in the market. Among the pure play
companies, there exists intense competition in the market among the leading
players which include Pepperfry, HomeTown, Home Centre, @Home by Nilkamal,
Godrej Interio, Urban Ladder, IKEA and few others. The top 4 pure play
companies contribute to a market share of less than ~%. Product categories, number
of merchants, quality of products, delivery time, offers & discounts, delivery
areas, pricing, revenue, conversion rate, etc. are the key competing parameters
for the online furniture & home décor players.
Over the forecast period, India online furniture & home
décor future market is expected to drive up the demand because of massive
underlying development in e-retail, e-commerce and supply chain of furniture in
India. Expected surge in internet penetration, growing demand from Tier 2 and
Tier 3 cities would also provide the boost to the market. Due to the Covid-19
outbreak, there has been a shift from offline sales to online sales, which is
expected to ensure substantial growth in the future as well. The online
retailing market in the country is expected to grow on the back of new
technologies such as 3D modelling, augmented reality, artificial intelligence,
which will be explored to increase efficiency, improve customer experience and
enhance service quality.
Key
Segments Covered:-
By
Product Category
Furniture
Furnishings
& Home Decor
By
Furniture Items
Beds
Sofa
Sets
Dining
Furniture
Chairs
& Tables
Others
By
Furnishings & Home Décor
Textiles
(Linen, Curtains, Cushions & Covers)
Table
Décor & Wall Décor
Mattresses
Lighting
Others
(Spiritual, Flooring, etc.)
By
Region
Tier
1
Tier
2
Tier
3
By
Commercial/Personal Usage
Personal
Commercial
India
Online Home Décor Market Companies Covered:-
Pepperfry
Home Town
Home
Centre
At
Home by Nilkamal
Godrej
Interio
Urban
Ladder (Reliance Retail)
IKEA
Space
Wood
Durian
Key Target Audience:-
Online
Home Décor Companies
E-Commerce
Marketplace Platform
Retail
Companies
PE
and VC Firms
Time Period Captured in the Report:-
Historical
Period –
FY’2016-FY’2022
Forecast Period –
FY’2022-FY’2027
Key Topics Covered in the Report:-
India
Furniture & Home Décor Market Overview
Key
Furniture Manufacturing Clusters
India
Online Furniture & Home Décor Market Overview
India
Online Furniture & Home Décor Market Size
India
Online Furniture & Home Décor Market Segmentation FY’2022
India
Online Furniture & Home Décor Market Growth Drivers
India
Online Furniture & Home Décor Market Trends & Developments
India
Online Furniture & Home Décor Market Government Role and Initiatives
India
Online Furniture & Home Décor Market Logistics Constraints
India
Online Furniture & Home Décor Market SWOT Analysis
Competitive
Landscape of India Online Furniture & Home Décor
India
Online Furniture & Home Décor Market Cross Comparison
India
Online Furniture & Home Décor Future Scenario
Future
Market Size and Segmentations, FY’2022-FY’2027F
Covid-19
Impact on India Online Furniture & Home Décor
Analyst
Recommendations
Case
Studies
For More Information
on the research report, refer to below link:-
India
Online Furniture and Home Décor Market
Related
Reports:-
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