The Indian furniture market has been growing on account of newer business models and urbanization. Today, it stands at $16 Bn in size, with 15% organized and growing at a CAGR of ~15-17%.
This growth is being driven by a slew of factors.
Furthermore, online furniture has increased its share owing to experience stores & different models offered at affordable prices with good quality. In fact, the online furniture market has been growing at a CAGR of ~80-85%, dominated by Metro & Tier 1, and driven by the ease of comparing products and low prices offered.
The online furniture market is broadly divided into horizontal and vertical platforms. Between the two, while verticals were initially leading the market, horizontals have increasingly become more dominant.
This growth is being driven by a slew of factors.
- Increase in Digitization and online channel sales.
- Rising urbanization in metro and tier 1 cities.
- Modular and solutions-based designs.
- Increased convenience and flexibility via home delivery, customization options and experience stores.
Furthermore, online furniture has increased its share owing to experience stores & different models offered at affordable prices with good quality. In fact, the online furniture market has been growing at a CAGR of ~80-85%, dominated by Metro & Tier 1, and driven by the ease of comparing products and low prices offered.
The online furniture market is broadly divided into horizontal and vertical platforms. Between the two, while verticals were initially leading the market, horizontals have increasingly become more dominant.
Table of Contents
1. Strong Furniture industry fundamentals
2. The growing Online Furniture Market
3. Horizontal and Verticals : Who’s winning?
Methodology
1. Primary Research Consumers, stakeholders and industry experts are interviewed to help us validate key trends and market estimations.
While the exact figures may vary for different reports, on average, the publisher conducts:
- ~1,000+ consumer surveys
- ~30+ IDIs (in-depth interviews) with stakeholders (consumers, suppliers, distributors and delivery executives, among others)
- ~25+ detailed discussions with industry experts Depending on the report in question, consumers and stakeholders are distributed across:
- City tiers (Metros, Tier 1, Tier 2, Tier 3 & Tier 4 cities)
- Income levels
- Genders
- Age groups
- Professions
- Internet usage pattern
- Geographies
2. Secondary Research Secondary includes analysis of databases available in public domain. Information sought is cross-referenced and aligned for soundness.
Note: In order to maintain confidentiality, results and analysis of the surveys and expert interviews are presented at level of overall scenario analysis and representation only.
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