Case study on indian furniture industry

Furniture market in india analysis

Goswami, P. The unorganized part is dominated by small privately owned stores, known as Kirana shops, as well as kiosks and street vendors. But the company is looking to expand further afield into new geographic locations in the search for even more growth. The most important priority is to find the right location for our stores at the right price in major cities, with easy access to public transport and a good road network. Its fractured and disorganized nature means that it has huge potential for consolidation or entry by an outside player. The organized category is comprised of licensed retailers who are registered to pay taxes and national brands. The fact that customers must navigate their way through a tortuous maze exploring every nook and cranny of the store in the process in order to find the items they want, then carry them to the checkout counter, haul them to their cars, unload and drag the items into their homes, and then assemble them with cartoon like directions, only seems to make the service experience all the more endearing.

The report includes India furniture market projections and demand forecasting. Gustafsson and B.

indian furniture market size 2018

As India emerges from the global recession and further opens and liberalizes its markets, retailing should only become even more attractive for IKEA. The fact that shoppers are co-creating the value with IKEA through their involvement and work only seems to enhance the service experience, and thus make it easier to develop these relationships.

While extremely practical, these mock ups also allow for a greater emotional experience as well as customers physically interact with the items.

India furniture market forecast & opportunities, 2019

Indians are used to horrible service and horrible service experiences. The company has announced that it plans to eventually open stores in the National Capital Region, Mumbai, Bangalore and Hyderabad, reportedly already signing agreements with the Indian states of Karnataka and Telangana. But in an effort to better understand Indian consumers and Indian tastes, IKEA has begun sending representatives to meet Indian customers in order to better understand what their hopes and expectations are regarding a pleasant service experience. Marcus Engman, the company is facing somewhat of an existential crisis. Its fractured and disorganized nature means that it has huge potential for consolidation or entry by an outside player. IKEA has a loyal and broad customer fan base, with many appearing to be almost in love with the company. Thanks to the effects of globalization, Indian consumers are increasingly being influenced by western culture, with signs that they are trying to emulate western lifestyles this is true even for Indians who have not travelled abroad. The company wants to approximately double sales by The fact that customers must navigate their way through a tortuous maze exploring every nook and cranny of the store in the process in order to find the items they want, then carry them to the checkout counter, haul them to their cars, unload and drag the items into their homes, and then assemble them with cartoon like directions, only seems to make the service experience all the more endearing. Promisingly, this would play right into the hands of IKEA and their service experience.

Major organized players such as Godrej Interio, Durian, Wipro, Evok and Nilkamal are expected to outperform during the next five years due to their diverse product range, expanding distribution network and exclusive outlets.

The company is also known for the grand safari that it forces visitors to go on every time they enter one of its cavernous stores.

indian furniture industry statistics

Home furniture market is expected to witness fastest growth over the next five years, followed by office and institutional segments.

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Ikea Invades India