Godrej Interio launches E-commerce operation
Godrej Interio, India’s leading furniture brand 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 acrossIndia, the latest service offering will further strengthen the brand’s reach by covering2,000+ pin codes.
The ecommerce 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, Mr. Anil Mathur, Chief Operating Officer, Godrej Interio 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 oflaunching an e-commerce website is a prime example of it. We are the largest furniture player in India with more that 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 the customers to experience and explore our products.”
Commenting on growth strategy further Mr. 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% of our business from online through marketplaces; but with our website in place, we aim to increase the share of online to 10% in the next two years.Currently, we get almost 65% of our revenues from beyond just the tier 1 markets with a huge 52% from upcountry locations. We are growing at a CAGR of 15% over the last couple of years, compared to the market growth rate of 7-8%”
According to RedSeer Consulting, the online furniture market in India grew at a CAGR of approximately 80-85% 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 omni-channel business. Also, with the plethora of categories available, and boundaries between furniture and furnishing markets blurring, future is exciting for furniture industry in India.