Furniture industry start-ups can expect a boost of 49% in two years – Feedback

Economic recession of 2008 and dynamic conditions of market have hit the furniture industry strongly in the past. It negatively impacted the power of Indian consumers to spend money on furniture but after few years from the year 2011, start-up environment started gaining momentum in the industry and brought a wave of new trends and changes.

There are 29% furniture start-ups in rental service, 57% in home designing and e-commerce and only 14% in do it yourself segment. Bangalore has attracted maximum share of furniture start-ups with 55% of them in the city which is followed by Delhi (NCR) and Mumbai. States of Karnataka and Haryana have maximum penetration of furniture start-ups which is not surprising due to high demand in Bangalore (Karnataka) and Gurugram (Haryana). Aakanksha Aggarwal, founder of Craft Driven Market Research says that start-ups in furniture industry are going to witness incredible growth in coming years. Currently, 80% of the industry is unorganized, however, these start-ups with their usage of technology and e-commerce are rapidly working to organize the whole industry.

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