Write An Evaluation Report On India Online Furniture and Home Décor Market

How is the Online Furniture & Home Décor Market Positioned in India?

Overview: The Indian Furniture Market stood at ₹ ~ Cr in FY’2022. The growing middle-class population, rising disposable income, and the growing number of urban homes have contributed to the expansion of the Indian furniture market. The industry is still largely inward-looking and highly fragmented, with unstructured businesses accounting for over >80% of all manufacturers in 2021. However, organized players have increased their contribution to the Indian furniture sector during the previous decade. There are ~30 major furniture clusters in India, mainly spread across tier 2 and tier 3 regions. These clusters offer authentic, indigenous furniture items and contribute substantially to their local economies. Furniture brands are looking to enhance their presence with local distribution tie-ups and stand-alone stores across major cities. Imports account for a major share of the products marketed to the Indian society’s upper-middle and higher-income classes. Some of the leading import partners for furniture materials include countries such as China, Malaysia & Italy.

The furniture market has witnessed tremendous growth in online order due to the pandemic and lockdown. The Covid-19 pandemic especially led to an impact on the furniture suppliers in the market causing manufacturing disruptions further impacting the market in FY21. It has pushed many retailers to shift from traditional brick-and-mortar stores to the online space. While factors, such as increased broadband connectivity, smartphones, and the rise of digital economy provide strong supporting infrastructure, e-retailer innovations utilizing emerging technologies, such as artificial intelligence and augmented reality, have further aided the growth of newer categories on the ecommerce platform. Vertical players, Pepperfry and Urban Ladder, as well as horizontal marketplaces, Amazon and Flipkart, have been beefing up their capacities to better tap this category.

Customers may now browse a huge variety of furniture products from anywhere and at any time, thanks to the introduction of online furniture merchants. There has been an increase in demand for modular, multifunctional, and personalized furniture.

India Online Furniture & Home Décor Market Segmentation, FY’2022

By Product Category

Furniture items constitute significant share in the online retail market of India in terms of sales revenue in the year FY’2022. One of the primary factors driving the growth is the work-from-home culture adopted by the corporates.

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By Furniture Items

Beds contributed ₹ xx Cr revenue in FY’22 and are dominating within the online furniture sales as the number of households are increasing and the average ticket size is comparatively very high.

By Home Décor Items

In terms of home décor items, textiles have captured the majority of the market share.

By Region

Tier 1 cities dominate the online furniture and home decor sales in India as the population in these cities is most tech savvy.

By Usage

Online sales for personal usage have dominated the market in the previous few years.

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

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