Constituting merely 3 per cent of the organised furniture market in India, the online furniture industry has emerged as one of the fastest-growing e-commerce segments in the country. While the segment has been growing at 35-40 per cent for the past five years, the pandemic COVID-19 has resulted in a sudden upsurge.
“Two megatrends driving the demand for online furniture were the increased digitisation and growing share of urban millennials. However, in today’s scenario, with people spending a significantly substantial time indoors in the wake of the COVID-19 pandemic, there has been a rise in the demand of various home improvement products – especially over the last couple of months,” says Rakesh Kaul, CEO & Whole Time Director, Somany Home Innovation Limited (SHIL).
The pandemic has given rise to new market trends and helping