· Redefining customer experience in Indian home retail through wide selection, high quality, and attractive prices
· Aims to gain a strong market footprint of the online retail segment by2015. Online retail market estimated at Rs.3,50,000 cr by 2020 as per Technopak
New Delhi, June 5, 2012: In recognition of the growing prowess of India’s online retailing potential, RoomStory.com launches an online home store. The premium portal has been launched with an aim to redefine user experience in the unorganized home décor space. With this launch, a wide selection of quality products from leading brands has been made available for Indian consumers at competitive prices.
The combination of two fast-growing segments, online retail and home décor, highlights the great potential for RoomStory.com. Industry estimates suggest the online retail market is expected to grow at a 70% CAGR and hit Rs. 3,50,000 CR by 2020. A lot of this growth can be attributed to the expected 5 fold increase in India’s Internet users from 2011 to 2015. At the same time India’s overall home furnishings, furniture, and houseware market is growing at ~11% PA and is expected to hit ~Rs. 130,000 CR by 2015 (Euromonitor, Ernst & Young).
RoomStory.com provides easy online solutions for Home Décor as per the zest & flavors of the modern Indian home with an inspiring range of products across broad categories of Bed & Bath, Décor & Furnishings and Kitchen & Dining. The website is a one-stop-shop offering end-to-end solutions from décor to lamps, bed linen to crockery, kitchenware to wine accessories.
The company is bringing online a platform for brands, both aspiring and established, to showcase their styles to the Indian consumer. RoomStory.com will curate these products to help customers build their own unique stories that define their homes. Customers in Tier 2 and Tier 3 cities will also gain access to brands that were previously unavailable to them. Artt’dinox, Philips, Maspar, and FCML are a few of those brands which have already joined hands with RoomStory.com to channel their products to customers online.
As per Nipun Virmani, COO & Co-founder, RoomStory.com” In general in spite of the recent pessimism surrounding the Indian economy, the longer term prospects of e-commerce in India remain strong especially given the growth in the internet penetration and mobile internet devices. To add to that there are plenty of opportunities to disrupt the home décor industry in India, making RoomStory.com a particularly exciting prospect.”
As per Prerak Sethi, CEO & Co-founder, Roomstory.com, “India is a young country with 60% of its population between 18-35. Home décor is seeing a boom owing to multiple factors. Apart from just the growing internet base of the country, the concept of a better lifestyle with more and more disposable income is giving impetus to this segment. With a vast product selection thorough our website, we don’t only enable customers with choice, but a lifestyle on a whole.”