Market Research Complete Information on Home Decor and Lifestyle Industry

The home decor and lifestyle industry market in India is growing rapidly, and it is expected to grow even more in the coming years due to social media. This industry includes a variety of components, such as furniture, interiors, jewelry, and home textiles etc. Some of the main products are almost completely used in the home. The demand for products like reed diffusers, oil burners, pot pourers, scented tea lights, candles, wax balls etc. is also growing rapidly. Once considered unnecessary luxuries, these items have now become a part of the entire lifestyle. After décor and furnishings, fragrance is becoming the third most important part of the home ambiance, making it an integral part of modern homes.

Below mentioned are the key growth drivers of market research on the home decor and lifestyle industry

●      Key macroeconomic fundamentals such as rise in disposable income, shift in customer behaviour, and growing demand for leading a trendier & more comfortable lifestyle

●          Just like perfumes and deodorants, home fragrances are nowadays also believed to be a part of self-expression and personal style statement. 

●       Although there is a lack of clinical research, anecdotal studies from market research on the home decor and lifestyle industry have shown that several fragrances such as lavender, lemon grass, jasmine, etc. can help enhance home decor as well as improve mood, reduce stress, and even help in better concentration.

●          The definition of home fragrances is also changing. They are no longer just perceived as a lifestyle product. Rather home aromas are also associated with overall comfort, and family wellbeing.

●          The rise of e-commerce and digital media has now enabled home fragrances manufacturers to reach newer markets and consumer categories ( and thus also  brings the need for feasibility studies on e-commerce industry). Thanks to digital retail, home fragrances are widely available in non-metros as well.

 

For further assistance on market research on home décor and lifestyle industry, feel free to connect with us at info@theindiawatch.com 

Location: Gurugram, Haryana, India

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