New trends in home decor business this festive season
Technavio's analysts forecast the online home decor market in India to grow at a CAGR of 50.42% in revenue over the period 2014-2019.BY Nibedita Mohanta | Sep 08, 2017 | comments ( 0 ) |
The festival season has kicked off and people are excited to give a new look to their wardrobe, shoe rack and their homes.
The bonuses are about to get distributed and people would have already made their list to spend the money in the desirable areas.
Often we get bored of the same old home décor designs, a little changes here and there makes a huge difference in the appearance as well as helps in releasing stress, depression and attracts a lot of positive energy in home, and what better timing is than the festive season.
Moreover home décor just not limits to houses, it accounts office designs, hotels, cafes, restaurants and airports to everywhere possible.
The category’s three broad segments – furnishings, furniture and décor, have been growing positively. There is a small shift of market share from furniture to décor during last couple of years. This is due to the reason of controlled consumption which resulted in spending less on high value items like furniture. Consumers continued to spend on furnishings as it has been and invested more in upgrading interiors and décor items to get refreshing look at home and office.
Technavio’s analysts forecast the online home décor market in India to grow at a CAGR of 50.42% in revenue over the period 2014-2019.
Total retail market is worth Rs 102,750 crore (US$ 17.13 bn) growing at 12-13 per cent and is expected to be worth Rs 144,323 crore (US$ 24.05 bn) by 2017. Modern retail is estimated at 19 per cent of this total market and is expected to grow at 24-27 per cent. Retail expansion grew at 16-21 per cent in terms of number of retail outlets and retail space with same store revenue growth being around 15 per cent.
Thus to help the home décor business flourish as well as to the customers, here are some new trends to follow in this festive season:
1.Playful Hanging Lamps:
Every night when you retire from the day to take shelter in your dreams, the last thing you see or hear or the last thought on your mind takes the shape of your dreams. Replace the bedside table lamp with a playful hanging lamp from the ceiling or on the corners will light up the mood as well as a lamp in the form of a piece of art, which you admire, will immediately turn the happy switch on in your system.
Moreover this will provide a lot of space for other things to include in your rooms, interior decorators are equipped to come up with things of your taste and mood.
Gone are the days when changing furniture was not even considered as luxury for middle class people. All their lives they would keep the furniture passed onto them from generation before they shred into pieces, but not any more now.
There are a lot of websites and startups, who help you, rent the furniture for certain period of time. If you are bored of the furniture or have grown liking for another set of furniture, rent it out from them.
The price is reasonable and the pain of carrying them from places to places and generation to generation will be easier.
Colors have very strong effect on psychology as per studies, dark colors induce strong feelings like romance, anger, mood swings, whereas light colors persuade soft feelings like joy, cozy, satisfaction.
Thus it is advised that a well trained interior decorator finishes the home with changing wall colors, suitable for the moods. Like for example dark colors in bedroom for enticing romance, light colors for study to keep the mood free from other negative thoughts and light color in kitchen, especially white, to keep the cheerful mood while cooking.
There are only a few changes here and there needs to be done to keep the changing factor constant in life and enjoy.
24 Nov 2015, Hotel Pullman, Aerocity, New Delhi.
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