Furniture Market and its market trends

A vast majority of Indians who shop furniture are going in for both online and offline furniture purchase. Home furniture market in the country is set to increase from $25 billion to $35 billion by 2020.The market is expected to grow at an annual rate of 13% between 2013 and 2015. The sector employs more than 4.11 million people and is expected to almost triple to 11.29 million by 2022.

Both on-line and off-line players are setting sights on this growing market. There is a stiff competition between on-line and off-line operators. Both the parties are fine tuning their market strategies to have more share of the market. Gurgaon-based FabFurnish has launched a content-driven, local market place on its website for customers, looking for specific products. On line furniture, design firm Homelane is looking to raise 420 millions to take advantage of the growth in the home furniture market.