OMNI CHANNEL RETAIL TRANSFORMING THE FURNITURE MARKET

The Furnishing industry spans across the manufacturing and installation of a diverse array of interior and exterior structures from furniture and furnishings, to kitchens, cabinets, glass, window and doors and interior design, including flooring and picture framing. A growing trend to have the best & comfortable furniture has made this sector getting organized and brands are adapting more lucrative and feasible business models to expand their brand’s collaboration with designers, manufacturers and retailers. Getting the right furniture and furnishings which was a tough job earlier has now changed significantly due to the branded furniture and furnishing houses in every nook & cranny of India. Finding an organized store in small cities or ordering furniture online is no more a herculean task. Read on to know more about the brands offering opportunities in this industry via franchising

- Abha Garyali Peer

Heart is where the Home is’ is an old adage but holds a lot of conviction as our affection and love for our homes is everlasting. Our abodes are supposed to be most comfortable places for us to relax and rejuvenate after the hardships of life. Undoubtedly the furniture and furnishings of any home make it more comfortable and lively and make our abode the right place for us. However choosing the right furniture as well as furnishings for home is a difficult task as an idea of an ideal home can be vary from one person to another. Therefore furnishings as well as furniture brands have an opportunity galore to tap this growing market.

The Indian furniture market is growing at a good pace and is expected to have strong growth in the upcoming years. It is expected to expand at a CAGR of 12.91 per cent during 2020-24. Western and Southern parts of India continue to be the leading revenue generators for the furniture sector in India. The reason for the growth of this sector is an increase in disposable income, the burgeoning middle class, and the growing number of urban households. Due to increase in the purchasing power, the demand for the designer as well as standardised furniture has also increased. This is one major factor that has made the organized market really progress in the furniture and furnishing sector in the last couple of years. Manoj Garg, Chief Executive Officer, Swayam says, “Growth of furniture and furnishings brands during the last few years as average is about 15-20 percent year-on- year. The premium furnishings brands with innovative designs have grown at a pace of 20-25 percent whereas brands with regular need driven products have grown at a pace of 10-15 percent.”