The luxury furniture sector in India is witnessing a remarkable transformation, driven by changing consumer preferences and digital innovation. As we delve into this exciting shift, it's clear that the industry is not just growing it's redefining the very essence of luxury furniture shopping.
Market on the Move
Recent industry analysis paints an optimistic picture for India's luxury furniture market. With an estimated value of $4.35 billion in 2024, the sector is poised for substantial growth over the next five years. Projections suggest the market will reach approximately $5.35 billion by 2029, reflecting a steady compound annual growth rate (CAGR) of 4.24%. These figures underscore the robust development and increasing consumer interest in high-end furniture within the Indian market.
Parallel to this, the online furniture retail sector in India is set for explosive growth. Between 2024 and 2029, the e-commerce furniture market is expected to see a revenue increase of nearly one billion U.S. dollars a growth of almost 50%.
By 2029, analysts project revenues to reach $3.06 billion, marking a historic high for the Indian furniture e-commerce industry.
The Changing Face of Luxury Consumption
The landscape of luxury consumption in India is undergoing a significant transformation, driven by several key factors. Economic growth has led to a substantial increase in disposable income, while globalisation and urbanisation have exposed consumers to international trends and lifestyles. This has resulted in a growing appreciation for aesthetics and sophisticated living.
この記事は Images Retail の August 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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この記事は Images Retail の August 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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