A Study on Customer’s Preference and Attitude Towards Online Purchase of Furniture
Dr. Srilakshmi Ramu, Asst. Professor in Management
Ms. Panam Sravani, Lecturer in Statistics,
& Mr Aman Ayu Khan, Student
St Mary’s College, Yousufguda, Hyderabad – 45
Published originally in the International Journal of Research (IJR), Vol. 9, Issue 12, December 2022
The Indian furniture industry is one of the fast-growing markets in the world, which stood at 17.77 USD Billion in 2020, USD23.33 billion in FY2021 and is growing at a CAGR of 6.04% expected to reach the value of USD 32.75 billion by FY2027 growing at a double-digit CAGR of 13.37% during 2020-2026.
Due to pandemic, the demand for furniture dropped in 2020, as offices and public places were closed for a long period of time of COVID-19, which decreased the demand for furniture supply. However, it has accelerated e-commerce furniture brands, since the customers who were worried about retail shopping to maintain social distancing guidelines, found an easier method to purchased safety of their homes. This has led to several new market trends having emerged, allowing manufacturers to explore new commercial opportunities.
Interestingly, kids’ furniture has also seen a rising demand due to the lockdown situation. Post the relaxation of lockdown restrictions, demand for home office furniture like study tables, office chairs, laptop tables, and other items has nearly tripled and this is expected to continue in future. The paper identifies the consumers perception and preferences of customers who purchase branded furniture on online. To achieve the objectives of the study, data was collected through a questionnaire from a sample of 164 respondents and findings were compiled.
Key Words: Furniture, Consumers preferences, Online furniture, IKEA
See original publication: https://ijrjournal.com/index.php/ijr/article/view/765