Online Home Decor Market in India Facts at a Glance-
- Companies: 10+ – IncludingAmazon.com Inc., D decor Home Fabrics Pvt. Ltd., Forte furniture products India Pvt. Ltd., Pepperfry Pvt. Ltd., Praxis Home Retail Ltd., Reliance Industries Ltd., Snapdeal Pvt. Ltd., Tata Sons Pvt. Ltd., The Crafty Angels, and Walmart Inc among others.
- Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape; COVID impact & recovery analysis
- Segments: Type (home furniture, home furnishings, and other home decorative products) and Application (indoor and outdoor).
- Geography: India
The Online Home Decor Market in India is expected to increase by USD 3.75 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 10.24%. The online home decor market share growth in India by the home furniture segment will be significant for revenue generation. Tier-I and tier-II cities are the main target markets for home furniture manufacturers because these cities provide vendors with access to all their requirements to operate their online distribution channels successfully, including logistics and e-retailers. This has prompted manufacturers to ensure that all products sold offline are available online also. Thus, the growing e-commerce sector will boost the demand for online home furniture in the region during the forecast period.
Product Insights & News-
The Online Home Decor Market in India is fragmented, and the vendors are deploying growth strategies such as focusing on product delivery through multiple distribution channels to compete in the market.
- Amazon.com Inc. is a public company that is headquartered in the US. It is a global company that generated a revenue of USD 469822 million and had around 1608000 employees. Its revenue from the online home decor market in India contributes to its overall revenues, along with its other offerings, but is not a key revenue stream for the company. The company offers home decor products such as wooden abstracts, wooden wall hanging, and wall paintings.
Latest Drivers & Trends Driving the Market-
- Online Home Decor Market in India Driver:
- Rise in online spending and smartphone penetration:
The rise in online spending and smartphone penetration is one of the key drivers supporting the online home decor market growth in India. For instance, tablets that offer larger and more tangible interfaces are more suitable for purchasing products online as they facilitate the decision-making process. Websites also provide detailed information on products, including quality, safety measures, and user guidance, all of which have increased the demand for e-retailing. Consumers also feel a lot more comfortable about purchasing products on the go. Security features for online payments, free delivery, improved online customer services, and the customer-friendly designs of online shopping websites are also contributing to the growth of the market.
- Online Home Decor Market in India Trend:
- Growing demand for eco-friendly home decor items:
Growing demand for eco-friendly home decor items is another factor supporting the online home decor market growth in India. The increasing consciousness of a healthy environment has increased the demand for eco-friendly furniture and other furnishings. Moreover, various legal agencies, such as the Forest Stewardship Council (FSC) and the Sustainable Furnishing Council (SFC), help the vendors in developing eco-friendly home furnishings. For instance, FSC helps interior designers by providing a database of suppliers that are engaged in sourcing wood products, which comply with environmental sustainability regulations.
