Growth of Online Furniture Stores in India

Furniture is one of the five products which people are hesitating to purchase online. The others are Jewelry, Paintings, Groceries and international food items. But this is old story in Indian online market as now India becomes the fifth largest furniture market in the world. The market giants like Pepperfry, FabFurnish and Urban Ladder and other leading online furniture stores like Godrej Interio, Durian, ChennaiChairs, Evok, Hometown, Nilkamal, Dynasty, Wipro, and Home Center made this possible by investing on studying consumer behavior towards online shopping. They sells Wardrobe, TV standonline, Study table, Ergonomic Office Chairs, tables etc.

The estimated sale of furniture and home furnishing in USA by 2011 was 14.2 billion US dollar whereas it becomes 26.3 billion US dollars. Even in India, some of studies says the country’s furniture market is projected to grow at a CAGR of around 26% during 2014-19. All these numbers are possible by one of the main factor is spending capacity. The analysts revealed that the spending capacity of (part of) people got increased and results the growth in ecommerce on Indian households.

In very recent years a number of companies like ChennaiChairs, Nilkamal, Durian, @home etc. have stepped afoot in the online channel of furnitureonline Chennai market in the last few years in order to use the opportunity of rising requirements of online shopping in the country.

Sachin Bansal, the co-founder of Flipkart mentioned that Indian e-Commerce sales hopes to be approximately $50-70 billion by 2020 and it will be $56 billion by 2023 as per ASSOCHAM.

As a result of the government’s 100% FDI approval into the Indian furniture industry, the doors were already opened for the international furniture manufacturers and furniture distributors to invest money to cultivate revenue in world's second populated, development country. The local market giants were aware of it and also ready to use this opportunity for its growth.

However, there are still some pain points to be taken into considerations that the challenges in the online furniture market. Generally people in India used to go out for shopping and trial it in this case to just sit, touch and feel the furniture they are purchasing. This touch and feel is missing on online marketing. The other challenge in almost every online store is the delivery time. Since the stores are depend on manufacturers, dealers and other intermediate people/business, the delivery date of any furniture is a real challenge.