Market Analysis Of Furlenco With the growing young population, the demand for branded and ready-made furniture is also growing. The preference is tilting towards high-end, low maintenance, quickly installable products with customization options. Spending priorities for this young population consist of food, mobile, looking good, and having better homes. These are the top five on the list. With this changing lifestyle and the demand for a better life right now brings Furlenco into the picture for the urban millennials.
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23.6% (20-29 years) Bachelors
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12.4% (30-34 years) Married
Market size distribution of ages 0-44 in different cities
21.0% (25-44 years) Home buffs Category not catered by Furlenco
22.0% (0-9 years) Kids
Category catered by Furlenco
21.0% (10-19 years) Teens
Market size distribution according to age in India
As seen in the charts above Furlenco has a good percentage of the target market that it wants to cater to currently. This is because people in this age group are the ones who are open to new possibilities and new ways of living. Also, the majority of the moving population resides in big cities like Mumbai, Delhi, Bangalore,. Hence it is justified that Furlenco wants to venture out strongly here before it moves to tier two cities. Furlenco has understood their audience well and the opportunities for their business for the urban population The reasons below provides an insight to the question “why rent and not buy?”
Makes room for experiences
Makes room for possibilities
Makes room for constant changes
Furniture is a big investment at any given point in time. It takes away a big chunk of savings from the user. Hence, renting a furniture allows them to do a whole lot more due to the small rental fee that they have to pay. These pieces of furniture are designed by a team of designers where each furniture is curated with softs furnishings, home decor, and accessories to complete your home.
When most of the people are on a constant move who has the willingness to setup up an entire house when they have no surety of how long they will be there for. But, why should this be the reason to deprive them of spaces that echo warmth? This is why renting gives them so many possibilities to deck up their homes the way they want as returning it back is always a possibility.
When buying a furniture the thought of getting bored with it isn’t a possibility. But who wouldn’t like to change the decor of the house as soon as it starts to feel mundane? Or keep up with the trends? This need for constant change can be satisfied with easy swaps to another furniture of your choice.
27 Doodle - Kid’s wardrobe • Graduation Project