India Online Furniture and Home Décor Market has witnessed a Strong Growth Trajectory Backed by Competitive Technological Advancements: Ken Research

India News

Increased Digitization: The e-retail business in India is being boosted by technology improvements, such as the availability of high-speed internet networks, like 4G, and increased adoption of smart devices. Customers were able to purchase furniture more easily through online channels, as a result of these improvements. Furthermore, the growing number of smartphone users in India, as well as online shopping, is driving the furniture manufacturers to market their products through online channels.

Emergence of New Players: Growing popularity of online shopping is encouraging furniture manufacturers, such as Godrej Furniture, Nilkamal, and others, to introduce and sell their products online. For example, Nilkamal's flagship brand @Home, a prominent offline retailer of prefabricated furniture products, has launched an online shopping facility for its exclusive selection of @Home furniture, furnishings, and home decor items. Moreover, Swedish furniture behemoth – IKEA recently entered the market.

Growing Government Support: As India strives to become a worldwide manufacturing hub, key initiatives, such as "Make in India" and "Vocal for Local," have boosted the manufacturing sector, including furniture manufacture. The Government of India's Make in India project intends to raise the manufacturing sector's proportion of the country's GDP to 25% by 2025. Furthermore, in August 2019, the government approved 100% FDI in contract manufacturing via the automated route, boosting the sector's growth.

Work from Home Culture: One of the primary factors driving the growth of the work-from-home furniture market is an increase in the demand for multifunctional furniture. Companies are likely to introduce a hybrid work model, with employees continuing to work from home for some of the time. This will help to maintain demand for furniture for working at home, such as laptop tables, study tables, etc.

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.

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

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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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Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

Support@kenresearch.com

+91-9015378249

India Online Furniture and Home Décor Market Outlook to FY'2027: Ken Research

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.

India Online Furniture & Home Décor Future Market Outlook & Projections

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:-

The KSA Furniture Market By End Users (Home, Office, Hotels And Industrial), By Product Categories (Bedroom - Bed, Wardrobe, Dressing Table; Living Room - Sofa, Sofa Cum Bed, Television Sets, Coffee Table And Center Table; Dining Room; Kitchen), Children Furniture And Online Furniture Market - Outlook To 2022

UAE Home Furniture And Furnishing Market Outlook To 2022 - By Living Room Furniture (Sofa, Sofa Cum Bed, Other Sitting Furniture, Coffee Tables, Others), Bedroom Furniture (Bed, Mattresses, Wardrobes, Chest Of Drawers), Dining Room, Home Office, Kitchen Furniture And Furnishing (Home Textile, Window Covering, Barbeques, Lightning Products)

India Hospital Furniture Market Outlook to FY’2025- By Type of Products (Hospital Beds, OT Tables, OT Lights, Stretchers and Others), By Organized and Unorganized Market, By End Users (Hospitals, Clinics and Diagnostic Chains and Home Healthcare Companies)

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

Support@kenresearch.com

+91-9015378249

Automobile Leasing Market Reports Provide An Analysis Of Strategies Of Major Competitors: Ken Research

Car finance is prearranged by financing corporates or specialist car producers.  It entails the numerous financial products such as loans & leases, which permits the customers to gain the car. In addition, the car finance products & services are primarily distributed through the original equipment manufacturers (OEMs), banks, credit unions, brokers, and numerous other financial institutions. Furthermore, car or auto financing are services empowers borrowers to buy the vehicles without having to make the complete payment in cash.

The excessive investments in autonomous vehicles along with rapid financing from dealers, banks and credit unions are further underwriting towards the growth of global auto loans services market. Asia Pacific Region predicted to lead the market followed by North America and Europe. Asia Pacific Region anticipated to propose the several growth opportunities to market vendors throughout the forecast duration.

The technological upgradation in automobiles is thereby uplifting its requirement and hence this industry is propelling its customer base at extensive rate. Furthermore, extreme investments in autonomous vehicles along with prompt financing from dealers, banks and credit unions are further underwriting towards the growth of global loan services market share.

The growth in cab service financing is propelling the global automotive financing market as the objective of cab service financing is to generate a financing program that proposes the flexible leases, weekly rentals, and discounts for the buy of new cars to potential drivers. The augment in cab service financing is leading to the growth of automotive financing market.

At Ken Research, automobile leasing market reports covers future industry analysis (by credit distributed and auto loan outstanding), future market segmentation, SWOT analysis, growth opportunities, up-coming business models, government regulations and analyst commendations.

Also, the increasing investments in autonomous vehicles are positively impacting the global automotive financing market growth. Autonomous vehicles deliver the convenience and safety to the drivers, which motivates the several end-users to invest in R&D activities. The investments in autonomous vehicles demand financing from banks, credit unions, and dealers, which in turn, augments the requirement for automotive financing as well. The growth in cab service financing coupled with the growing investments in autonomous vehicles is propelling the automotive financing market growth during the forecast duration.

Owing to features such as safety and convenience delivered by the autonomous vehicles to the drivers and augmented the financial cab services motivates the users to contribute in the research and development activities in automotive domain. In addition, in order to invest in autonomous vehicles, the end users demand financing from credit union, dealers and banks that further bolster the requirement of automotive financing and projected to drive the growth of global automotive financing market.

The key regions into which the car financing market is categorized are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific, among them, is projected to expand at a speedy pace owing to augmented the vehicle ownership. Consumers in emerging economies in the region that are progressively buying big ticket items opt for car financing for car buy. Middle-class households in underdeveloped countries that have less disposal capital to buy car have high demand for car financing.

For More Information, refer to below link:-

loan services market share

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Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249

Smartphone Users aged 25-44 is the Key Target Addressable Audience for Online Grocery Delivery Companies in Vietnam: Ken Research Analysis

Vietnam News

·       ~60% of grocery orders were placed by customers belonging to 25-44 years age group.

·       The online grocery shoppers in Vietnam prefers Express Delivery for their orders.

·       Most orders come from the major Urban Cities – Ho Chi Minh, Hanoi and Da Nang.

Increasing Demand among Working Professionals: The demand for online grocery is rising among working professionals & married couples as they have less time to physically visit a store for grocery shopping. Moreover, smartphone users aged 25-44 (targeting working professionals) who are willing to rely on online grocery delivery platforms for fulfilling their grocery needs is the target population for online grocery delivery companies.

In addition to this, demand for online grocery has increased among the people living independently as they are increasingly outsourcing their chores, such as grocery shopping to reliable vendors online. About 30% of the online grocery buyers are frequent shoppers. They place the order around 3-5 times a month.

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Increasing Internet and Smartphone Penetration

Smartphone user population aged 25-44 stood at 61.37 Mn in 2021P. These smartphone users (Tech-savvy population) who are willing to rely on online grocery delivery platforms for fulfilling their grocery needs is the target population for online grocery delivery companies.

Innovative Strategies adopted by Service Providers: Service providers in Vietnam are constantly upgrading themselves to adapt to the needs of the customers. Companies have been focusing on developing infrastructure to control last mile delivery and offer express delivery to customers, within 120 minutes. Express Delivery (30 – 120 minutes) is the most preferred delivery mode among online grocery users in Vietnam.

Technologies Facilitating Business Operations: Companies have been constantly on the look out to adapt new technologies in their operations. Fleet management software, real time inventory monitoring & business analytics have driven the day-to-day operations in the industry. Artificial Intelligence has helped the companies to offer personalise experience to customer.

According to the report by Ken Research titled “Vietnam Online Grocery Market Outlook to 2026F- Market Driven by Increasing Smartphone Penetration, Changing Shopping Habits of Consumers and Regional Expansion of the Online Grocery Players”, the Online Grocery Delivery Market will grow at a CAGR of 20.4% during the period 2021P – 2026F. The market will witness growth owing to changing purchasing habits of consumers, rapid growing e-commerce awareness and introduction of subscription models & innovative strategies adopted by service provides.

Key Segments Covered:-

By Product Category

Beauty & Health

Food & Beverages

Fresh Food

Household supplies

Others

By Mode of Payment

Cash on Delivery

Online Payments

By Age Group

18-24 years

25-34 years

35-44 years

45+ years

By Type of Business

B2B

B2C

By Mode of Delivery

In a specific time period

Express Delivery

Others

By Cities

Ho Chi Minh City

Hanoi

Da Nang

Companies Covered:-

Shopee

Tiki

Lazada

Chopp

GrabMart

Co.opmart

Key Target Audience:-

Online Grocery Delivery Companies

Supermarkets & Hypermarkets

E-commerce Companies

Food Delivery Companies

Investors

Time Period Captured in the Report:-

Historical Period: 2016–2021P

Forecast Period: 2021P-2026F

Key Topics Covered in the Report:-

How is the Online Grocery Market positioned in Vietnam?

Comparison of the Brick-and-Mortar Grocery with the Online Grocery Platform

Target Addressable Audience for the market

Supply Ecosystem and Challenges

Demand Scenario, Target Customer and Factor Influencing Consumer Behavior

Cross Comparison of Operating Models (Marketplace and Omni-channel)

SWOT Analysis

Current Technologies Facilitating Online Grocery Delivery Industry

Upcoming Technologies in Online Grocery Delivery Industry

Investment and Funding in Online Grocery Delivery Companies in Vietnam

Competitive Landscape – Cross Comparison of Major Players

Company Profiles

Future Market Analysis and Trends

Analyst Recommendations

Research Methodology

For More Information on the research report, refer to below link:-

Vietnam Online Grocery Market

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Indonesia Online Grocery Market Outlook to 2026 – Driven by Changing Shopping Habits of Consumers and Regional Expansion of Local & International Players in the Archipalego

KSA Online Grocery Delivery Market Outlook to 2025- Driven by Changing Shopping Habits of Consumers and Regional Expansion of Local & International Players in the Kingdom

UAE Online Grocery Delivery Market Outlook to 2025- Driven by Increasing Working Population, Introduction of Express Delivery and Regional Expansion

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

Support@kenresearch.com

+91-9015378249