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.
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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 Insights On Market Intelligence, Refer To The Link Below: –
India Online Furniture and Home Décor Market
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