Reports suggest that modular kitchen industry is growing at a brisk pace of 25% per annum. These days consumers have access to a never before range of furniture to satiate their desire of having a state of art modular kitchen in their dream home. As more and more companies are jumping in to the fray, the prices are getting more competitive which used to be one of the major deterrent for the buyers specially in the Indian context. Let me try and demystify the modular kitchen scenario.
Since 2008, many new entrants voyaged into the unknown waters of Indian modular kitchen industry, through private labels, co-branding agreements etc. and have so far received more than satisfactory results. 2011 seems to be the year of expansion. Not just the international brands, the Indian brands too are gearing up for the next decade's opportunities and challenges. This involves giving more purchase options, focusing more on online reputation & brand building and reducing the cost of day to day operations, without compromising on the quality offered.
As per the last available industry statistics, the modular kitchen segment stands at around Rs 1,500 crore. With increasing emergence of nuclear families, rising disposable income and better affordability, this industry is expected to grow at the rate of 40% per annum.
Most of the modular kitchen suppliers have voiced their desire of having a robust promotional campaign or high budget advertisement blitz to increase the awareness about the modular kitchen concept in the tier 2 and tier 3 cities (the next growth engines).
Media reports further adds that, to gain advantage of the growing momentum, many small to medium furniture suppliers are tying up with Future Group and other big retailers like Shoppers Stop, Reliance Retail for maximum reach to the end buyers in a mutually beneficial arrangement.
Industry experts reveal that that stunning growth of modular kitchen industry in India has surprised the all and sundry. It has surpassed the expectations of most of the market pundits and has became a subject of case studies in most of the reputed business schools. One of the striking factor of this growth industry is that the Indian suppliers were able to stand their ground and have not been sidelined by the intrusion of big western corporates. This speaks volume of Indian consumer's loyalty to the traditional designs and brands.
Globally, kitchens account for 40% of all furniture sales. With the Indian furniture market valued at around 50,000 crore, the kitchen segment could well be estimated to be around 20,000 crore, which leaves an ample scope of improvement as the current figure stand at merely 1,500 crore .
PS : Modular kitchen cabinets suppliers get your online catalog today and make profits by tapping the business queries being generated across the globe on the web 24/7. To know more, click on Modular kitchen India
Since 2008, many new entrants voyaged into the unknown waters of Indian modular kitchen industry, through private labels, co-branding agreements etc. and have so far received more than satisfactory results. 2011 seems to be the year of expansion. Not just the international brands, the Indian brands too are gearing up for the next decade's opportunities and challenges. This involves giving more purchase options, focusing more on online reputation & brand building and reducing the cost of day to day operations, without compromising on the quality offered.
As per the last available industry statistics, the modular kitchen segment stands at around Rs 1,500 crore. With increasing emergence of nuclear families, rising disposable income and better affordability, this industry is expected to grow at the rate of 40% per annum.
Most of the modular kitchen suppliers have voiced their desire of having a robust promotional campaign or high budget advertisement blitz to increase the awareness about the modular kitchen concept in the tier 2 and tier 3 cities (the next growth engines).
Media reports further adds that, to gain advantage of the growing momentum, many small to medium furniture suppliers are tying up with Future Group and other big retailers like Shoppers Stop, Reliance Retail for maximum reach to the end buyers in a mutually beneficial arrangement.
Industry experts reveal that that stunning growth of modular kitchen industry in India has surprised the all and sundry. It has surpassed the expectations of most of the market pundits and has became a subject of case studies in most of the reputed business schools. One of the striking factor of this growth industry is that the Indian suppliers were able to stand their ground and have not been sidelined by the intrusion of big western corporates. This speaks volume of Indian consumer's loyalty to the traditional designs and brands.
Globally, kitchens account for 40% of all furniture sales. With the Indian furniture market valued at around 50,000 crore, the kitchen segment could well be estimated to be around 20,000 crore, which leaves an ample scope of improvement as the current figure stand at merely 1,500 crore .
PS : Modular kitchen cabinets suppliers get your online catalog today and make profits by tapping the business queries being generated across the globe on the web 24/7. To know more, click on Modular kitchen India
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