Furniture Retailers Adopting a Mix of Strategies to Woo Customers

FDT Bureau

Furniture retailing, both offline and online, is undergoing a change. Players in the trade are either ramping up their product portfolio, restructuring the same or are focusing on omni-channel strategy to cater to a larger market base. India’s home-grown e-commerce marketplace, Flipkart is ramping up its furniture portfolio with the launch of ‘Perfect Home Studio’. With this, the company aims to tap into the young population-based in metros and Tier I cities in the age group of 25 to 45 years. The collection will have a range of multi-utility designs in wardrobes, tables, cabinets, drawers, shelves, shoe racks, stools and other small furniture, keeping in mind the space limitations most urban households face. “With this entirely new range, Perfect Homes is targeting a new segment of consumers who aspire to own the latest decor and aesthetics but may have budgetary concerns,” said Adarsh Menon, Senior Vice President - Private Brands, Electronics and Furniture at Flipkart - in a press communication. He added, the newly introduced range will allow consumers to feel a sense of ownership over the furniture, which many young Indians living in metros today may not otherwise experience. “Living alone, with friends or with their Furniture Retailers Adopting a Mix of Strategies to Woo Customers spouses, consumers always want to build the home of their dreams, and Perfect Homes Studio allows them to do just that,” he said.

While Flipkart is strengthening its furniture portfolio, IKEA too is planning to broaden its product range in the low price bracket. It is harping on adopting new materials, production techniques and distribution methods that would help make IKEA even more affordable. At the same time the Swedish major is boosting its digital offering and opening smaller-format stores in major cities so that customers can cut down travel time in reaching its outlets. Likewise, Landmark Group-owned furniture retailer Home Centre is relooking its furniture business and is introducing a cash-and-carry furniture category. The cash-and-carry category will sell small-sized furniture options such as side-tables and petite chairs for nooks and corners of rooms to create impulse buying behaviour and increase sales. The company is further looking at new categories within the cash-and-carry segment which can negate hard and big furniture consumption and launch it by 2021.