Indian furniture, mattress, & interior décor e-retail is set to thrive. Currently, the market is sized at USD 1348 million and has grown at a CAGR of 15.2% between FY 19-22. Despite the hiccups caused during the pandemic, the segment continues to thrive through both organic as well as inorganic means.
Like other e-retail categories, increased broadband connection (along with cheaper rates of the internet) changing consumer behaviors, attractive demographic dividends, and preference for doorstep delivery are helping furniture e-retail businesses in India to grow.
However, the market is also drawing on new players, which are increasingly entering the segment and registering robust growth. Upcoming Brands like Wooden Street, Wakefit, and Royal Oak, etc. have registered rapid growth in then quarters, thereby helping the overall category grow upwards.
The shift towards digitization in furniture retail is also dovetailed by the current pandemic that is resulting in new consumer preferences, despite affecting the supply chain. After the COVID crisis, the overall demand for furniture has been muted and supply chains have disrupted, thereby adversely affecting the business. Yet, online sales of numerous categories such as office furniture, study tables, bean bags, gaming chairs have increased. Similarly, in the B2B segment the demand for office furniture have dipped but other categories such as lab furniture and healthcare furniture have jumped northwards.
Industry Mega Trends
How India Watch can help?
The India Watch is a market research and business information advisory based out of India. We work with established businesses, start-ups, investors, trade promotion bodies, etc. to offer custom market research and data solutions.