London, 18 May 2015: Technavio, the independent tech-focused global research firm, has published a report on the online home decor market in India 2015-2019, which is expected to grow at a CAGR of 50.42% during the forecast period of 2014-2019.
Increasing interest in interior decoration has led to the growth of the home decor market. The demand for eco-friendly and organic home furnishings is rising rapidly because of increased awareness about the benefits of going green. Also, rise in disposable income has increased the demand for luxury and branded products, which has influenced manufacturers to widen their product range.
“Vendors now manufacture a wide range of furniture using only moso bamboo, which is considered stronger and harder than oak,” says Faisal Ghaus, Vice President of Technavio.
“Awareness of the effects of deforestation and the effects of toxic finishes has increased and prompted furniture manufacturers to go green.”
Key Market Drivers
- Convenient Payment Options
- Changing Lifestyles of Working Population
- Growing Construction Sector
- High Growth during Festive Seasons
- High Investment in Technology
Key Market Trends
- Rising Demand for Online Retailing in Tier II and Tier III Cities
- Increased Internet Penetration
- Younger Demographics
- Growth of Mobile Commerce
- Shift to Eco-friendly Products
- Aggressive Marketing Strategies
Key Market Vendors
- FabFurnish.com (Alix Retail Private Limited)
- Pepperfry.com (Trendsutra Platform Services Pvt Ltd)
- Roomstory.com (Azure Online Ventures)
- Urban Ladder
- Zansaar.com
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
