MUMBAI: Godrej Interio recently launched its e-commerce operations further strengthening its presence in the Indian furniture market. With a strong retail network of company-owned showrooms and dealer outlets across India, the latest service offering will further strengthen the brand’s reach by covering 2,000+ pin codes.
The e-commerce website provides a huge catalogue of products across multiple categories – Living Room furniture, bedroom furniture, dining sets, storages, mattresses and kitchens. Basis the demand and sales, Godrej Interio also plans to introduce selected online-only models to cater to a larger section of customers who love purchasing online. It is also looking at having AR integration on the website by the end of the fiscal year.
Commenting on the launch, Godrej Interio chief operating officer Anil Mathur says, “With design thinking and innovation at the core of our business, Godrej Interio has transformed lives through design, customer centricity and cutting-edge technology, and the latest service offering of launching an e-commerce website is a prime example of it. We are the largest furniture player in India with more than 300+ exclusive stores and 1200+ dealer network spanning over 650 cities in India. Our e-commerce platform is an extension of our offline networks and it provides an additional touchpoint for customers to experience and explore our products.”
Commenting on growth strategy further Mathur further said “We have not launched our website for a pure e-commerce play, but more to maintain an omnichannel presence. Currently, we barely get 1 per cent of our business from online through marketplaces; but with our website in place, we aim to increase the share of online to 10 per cent in the next two years. Currently, we get almost 65 per cent of our revenues from beyond just the tier 1 markets with a huge 52 per cent from upcountry locations. We are growing at a CAGR of 15 per cent over the last couple of years, compared to the market growth rate of 7-8 per cent”
According to RedSeer Consulting, the online furniture market in India grew at a CAGR of approximately 80-85 per cent to reach approximately $310 million in FY19 as compared to $104 million in FY17, and is likely to touch $700 million in FY20. With the advent of international players, highly unorganized furniture market in India is expected to get more organized and increasingly move towards omnichannel business. Also, with the plethora of categories available, and boundaries between furniture and furnishing markets blurring, the future is exciting for the furniture industry in India
