Online Furniture & Home Décor is the act of buying furniture and home decor products via the internet, which allows individuals to conveniently shop from home and access a broad selection of products that may not be available in nearby stores. Customers can purchase furniture for various rooms in their homes, such as the living room, bedroom, and kitchen, in addition to decorative items like curtains, rugs, and wall hangings. Many online stores also offer customization options to personalize furniture and decor according to individual preferences. Overall, online shopping for furniture and home decor is a hassle-free and effective way to enhance the appearance of a home without leaving one's residence.
India Online Furniture and Home Decor Market Driving Factors and Challenges
The India Online Furniture and Home Decor Market has witnessed substantial expansion in recent times and is projected to grow at a positive CAGR of 37.05% throughout the forecast period, supported by various factors. The spread of e-commerce in India has made it more convenient for customers to purchase furniture and home decor products online. With the increasing availability of the internet and smartphones, consumers can easily access online stores from anywhere and at any time.
The growth of the online furniture and home decor market is also attributed to the increasing urban population in India. As more individuals relocate to cities and reside in smaller apartments or homes, there is a greater need for space-saving and multi-purpose furniture. Online stores provide a wide range of furniture options that cater to the requirements of urban consumers.
Furthermore, the popularity of interior design and home decor trends in India has resulted in a higher demand for trendy and distinctive furniture and decor items. Online stores offer a diverse range of products, from traditional to contemporary, that cater to the evolving preferences of Indian consumers.
The India Online Furniture & Home Decor market has grown considerably, but it still encounters obstacles. One of the challenges is the inability to physically touch and feel products, which can lead to hesitation in purchasing online. Additionally, logistics and delivery present challenges because furniture products are heavy and expensive to ship, leading to longer delivery times and higher costs. These issues can negatively impact the customer experience.
Impact of COVID-19 on India Online Furniture and Home Decor Market
In India, the COVID-19 pandemic has resulted in a rise in online furniture and home decor shopping as people stay indoors more. However, disruptions in the supply chain and logistics have led to shipping delays and increased costs, negatively impacting customer satisfaction. There have been changes in consumer behaviour and preferences, including a demand for ergonomic furniture and sustainable products. Consequently, the industry must adapt to meet the changing needs of customers, which presents opportunities for growth and innovation.
India Online Furniture and Home Decor Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Pepperfry, Home Town, Home Centre, At Home by Nilkamal, Godrej Interio, Urban Ladder (Reliance Retail), IKEA, Space Wood, Durian.
India Online Furniture and Home Decor Market Segmentation:
By Product Category: Based on the Product Category, India Online Furniture and Home Decor Market is segmented as; Furniture, Furnishing & Home Decor.
By Furniture Items: Based on the Furniture Items, India Online Furniture and Home Decor Market is segmented as; Beds, Sofa Sets, Dining Furniture, Chairs & Tables, Others.
By Furnishings & Home Decor: Based on the Furnishings & Home Decor, India Online Furniture and Home Decor Market is segmented as; Textiles, Table Decor & Wall Decor, Mattresses, Lighting, Others.
By Usage: Based on the Usage, India Online Furniture and Home Decor Market is segmented as; Personal, Commercial.
By Region: This report also provides the data for key regional segments of North India, South India, East India, West India.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.