Massive underlying development in E-retail, E-commerce and Supply Chain will improve online furniture & home décor landscape in India: Ken Research

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 inIndia 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 Industrybelieve 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

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

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)

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s