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Growth in the number of households, especially smaller ones, is helping to drive sales in home furnishings. According to Euromonitor International economies and consumers annual data, the average household size in India declined between 2014 and 2019, indicating an increase in the number of smaller households as more Indians moved from their family home for education or work.
Manufacturers are trying to differentiate themselves and their products by offering added benefits and focusing on health. As more consumers become accustomed by buying branded products, players are trying to compete through introducing newer propositions.
Lighting sales continue to grow, although the increasing sales in light sources is solely attributable to light-emitting diode lamps (LED). LED continued to be the fastest-growing category in home furnishings in 2019, driven by the continued push from government and manufacturers, with the share of conventional lighting sources still in decline.
Philips Electronics India retained the biggest value share in home furnishings in 2019. Philips has a significant presence in lighting and helps drive sales through innovations and competitive pricing.
There is a growing trend of online sales of mattresses, with lots of start-ups in the sleep business performing well by selling their products online. They primarily thrive by providing good-quality products at attractive prices, with deliveries made to the doorstep and returns possible if consumers are not satisfied with the product after a trial period.
Offline channels still dominate sales of home furnishings, with homewares and home furnishing stores the most prominent distribution channel, accounting for three quarters of value sales. For home furnishings consumers still prefer to look at the product first before buying, which is understandable as furniture is often a big-ticket item.
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Overview: Discover the latest market trends and uncover sources of future market growth for the Home Furnishings industry in India with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
The Home Furnishings in India market research report includes:
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This industry report originates from Passport, our Passport market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.