A prominent South African-based company
specialized in customizing wooden interior decor
products, approached Nexdigm to evaluate the Indian
furniture market. The objective of the assignment was to conduct a
detailed study of the Indian furniture industry with an
emphasis on four specific cities to determine the target
market for their proposed India plans.
Nexdigm conducted primary and secondary research
to provide an overview of the market size, segments,
opportunities and challenges, production and
consumption, export and import, etc. across the Indian
furniture market (online and offline segments). Furthermore, we conducted a comprehensive supply
chain analysis which included 70+ stakeholder
interviews and analysis of importers, manufacturers,
distributors, retailers, and institutional buyers, among
others. We also mapped four pre-dominant supply
chain models - organized manufacturing, wholesale
trading, organized retailing, and e-commerce/Online. We also studied the competitive scenario (retailers home, manufacturers-office, and e-commerce players)
and created extensive profiles of 15 players based on
factors such as product/service offerings, business
model, modes of doing business, import-export
scenario, etc.
Our comprehensive report helped the client
understand the Indian market, their target audience,
competitors, and potential opportunities and
challenges in the market. The report helped in understanding that Tier 1 cities
had strong consumption demand due to increasing
internet penetration, varied payment options, flexible
price sensitivity, and thus was recommended as a
viable option to be considered for market entry.
