Online Home Decor Market in India 2015-2019
About online home decor
Home decor can be categorized as household furniture, home furnishings, and other decorative items such as lamps, artifacts, clay pots, and candles.
In India, the online selling of home decor products has gained momentum in recent years. Online vendors are able to offer a diverse range of products that can be used in indoor as well as outdoor spaces. Consequently, online customers have a plethora of options to choose from, including products from local and international manufacturers.
Technavio’s analysts forecast the online home décor market in India to grow at a CAGR of 50.42% in revenue over the period 2014-2019.
Covered in this report
This report covers the present scenario and the growth prospects of the online home décor market in India for the period 2015-2019. To calculate the market size, the report considers the revenue generated from the online home décor sales across various regions in India.
Technavio's report, Online Home Décor Market in India 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Online Home Decor Market in India 2015-2019
Technavio recognizes the following companies as the key players in the online home decor market in India: FabFurnish.com (Alix Retail), Pepperfry.com (Trendsutra Platform Services), Roomstory.com (Azure Online Ventures), Urban Ladder and Zansaar.com
Other Prominent Vendors in the market are: Bedbathmore.com, D'decor Home Fabrics, Flipkart, Jabong, Mebelkart, Snapdeal, Style Spa and The Label
Commenting on the report, an analyst from Technavio’s team said: Growing demand for home decor products from Tier II and Tier III cities is attracting more suppliers to the market and enhancing their bargaining power. A recent study by Google India revealed that 51% of traffic for the Great Online Shopping Festival held in December 2012 came from the non-metropolitan cities. The online retailing market is expected to witness increased participation from non-metropolitan cities. Retailers such as Pepperfry and Urban Ladder are focusing on reaching out to small towns by improving their supply chain capabilities, broadcasting TV commercials, providing easy payment options such as COD, and offering coupons and discounts.
According to the report, urbanization has led to a change in the daily schedules and activities of people. The number of dual-income households has increased considerably in India. Consumers have to increasingly balance a hectic working lifestyle with the demands of home and family. This leaves consumers with less time for regular retail shopping. The consumer, thus, tends to rely heavily on online retailing. Also, furniture and furnishing shopping can be tedious compared to apparel or electronics, even for small purchases. This is where online shopping plays a crucial role. It helps deliver the products at the customer's doorstep, without affecting the customer's time and schedule.
Further, the report states that growth of the market may be hampered because inadequate physical infrastructure in India is hampering product delivery and consumer satisfaction.
FabFurnish.com (Alix Retail), Pepperfry.com (Trendsutra Platform Services), Roomstory.com (Azure Online Ventures), Urban Ladder and Zansaar.com, Bedbathmore.com, D'decor Home Fabrics, Flipkart, Jabong, Mebelkart, Snapdeal, Style Spa, The Label