The Indian furniture industry is experiencing a significant transformation in terms of its business model, with the adoption of omnichannel retailing gaining popularity. Omnichannel retailing refers to a multi-channel approach to sales, which enables customers to have a seamless and consistent shopping experience across multiple channels, including physical stores, e-commerce platforms, social media, and mobile applications. The growing adoption of this approach in the furniture industry is driven by a range of factors, which we will explore in this article.
One of the primary factors driving the rise of omnichannel retailing in the Indian furniture industry is the rapid growth of e-commerce. With the increasing popularity of online marketplaces and furniture-specific e-commerce platforms, consumers are becoming accustomed to browsing and purchasing furniture online. However, many customers still prefer to visit physical stores to see and touch furniture before making a purchase. By offering both online and offline options, furniture retailers can cater to the needs and preferences of a broader customer base.
The COVID-19 pandemic has also accelerated the shift towards omnichannel retailing in the Indian furniture industry. With lockdowns and restrictions on physical stores, retailers were forced to invest in their online presence to continue serving customers. The pandemic has also changed the way people shop, with more consumers turning to online channels for their furniture needs. By offering omnichannel options, furniture retailers can reach customers who prefer to shop online, as well as those who prefer to visit physical stores.
Another factor driving the adoption of omnichannel retailing in the Indian furniture industry is the increasing competition. The market is becoming more crowded, with more players entering the industry. To differentiate themselves and stay ahead of the competition, furniture retailers need to provide a superior customer experience. Offering omnichannel options is one way for furniture retailers to stand out from the competition. By providing a seamless and consistent experience across multiple channels, retailers can build customer loyalty and increase their market share.
Lastly, the transformation of the Indian furniture industry in terms of design, materials, and manufacturing processes has created a need for more personalized and customizable furniture options, which can be delivered through an omnichannel approach. By offering a range of customization options through online platforms and physical stores, retailers can provide customers with a unique and personalized shopping experience.
In conclusion, the adoption of omnichannel retailing in the Indian furniture industry is driven by a combination of factors, including the growth of e-commerce, the COVID-19 pandemic, increasing competition, and the transformation of the industry. By adopting an omnichannel approach, furniture retailers can cater to a wider customer base, build customer loyalty, and differentiate themselves in a crowded market. The rise of omnichannel retailing in the Indian furniture industry is a testament to the industry’s adaptability and willingness to evolve to meet the changing needs of its customers.
Authored by Raghunandan Saraf, Founder & CEO, Saraf Furniture