Home Furnishings in India

PROSPECTS

Increasing interest in home decoration and differentiation expected to boost sales of home furnishings

There is a growing sense of individuality among today’s consumers, resulting from their increased exposure to the same global phenomenon and changing social dynamics. This has led to buyers wanting to express themselves through material goods.

The focus on health and premiumisation is set to drive the uptake of premium mattresses

Mattresses in India has traditionally been unorganised as the usage of cotton, rugs and locally-produced mattresses is high. These products are readily available at reasonable prices which have always been alluring features for buyers.

COMPETITIVE LANDSCAPE

IKEA pushes organised sector sales in home furnishings

Indian home furnishings is highly unorganised with branded players holding the minority share. Leading brand retailers include chains like Home Town (Future Group), Home Centre (Landmark Group) and Home Stop (Shoppers Stop) which are still struggling to gain the bigger share of consumer spending.

Philips Electronics remains the leading player in home furnishings

Philips Electronics India Ltd retained the biggest value share of home furnishings in 2018. Philips has significant presence in lighting and drives sales through its innovations and competitive pricing.

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