Key Findings
· Huge surge
in demand of online furniture and home décor items from Tier 2 and Tier 3
cities would be witnessed in FY’27 owing to increasing digital penetration in
these cities.
· Growth of
corporates, retail, hospitality and healthcare sectors have raised the demand
for the commercial real estate and would provide a boost to the online
furniture sales in India.
· Various
furniture manufacturing clusters are planned across India to promote economies
of scale by meeting domestic requirements and pushing India into a global
furniture manufacturing hub.
Emerging Technology: With the advancement in data
analytics and interactive technology, online retailers are able to offer
immersive buying experience along with personalized solutions to the customer
based on their preferences. Apps and portals would focus on AR and VR tech to
help the customers visualize and select the best furniture items. The
personalized furniture trend is gaining popularity and will be the major trend
in future.
Growth of Omnichannel Sales: Initially furniture e-tailers were facing challenges in
solving the ‘touch and feel’ problem. This drove a push into creation of a
network of experience stores that enable users to experience the products
before buying - thus providing a strong level of trust which was missing in
online till then and which was a habitual need of any furniture buyer in India.
This has led to strong growth in the overall sales of these e-tailers and
compete with major offline retailers.
Rental Furniture could be the next Big Thing: Majority Young Working
Professionals in India keeps on migrating internally due to their job
requirements, thereby not intending to invest in furniture as it is a hefty
task to take it around. Companies such as Rent Mojo and Furlenco in India lease
out furniture on rent on a monthly, annual and biannual basis. While Furlenco
designs and owns the furniture it rents out, Rentomojo has an asset-light model
where it ties up with suppliers to rent out the furniture.
Analysts at Ken Research in their
latest publication
“India
Online Furniture & Home Décor
Market Outlook to FY'2027 - Driven
by Expanding Customer Base and Increasing Government Initiatives to Promote
Furniture Industry”
believe that the Online Furniture & Home Decor market in India
is expected to experience positive growth owing to the growing demand for the
office furniture, increasing e-commerce market coupled with the surge in the
penetration of smartphones and growing internet users in the country. The
market is expected to register a positive CAGR of 36.8% in terms of revenue
during the forecasted period 2021P-2027F.
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
Request For Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTM2Mjk3
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
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