Last updated : March 23, 2020 10:40 am
Furniture brand also plans to introduce selected online-only models to cater to a larger section of customers who love purchasing online
Godrej Interio, Furniture brand, has launched its e-commerce platform in order to extend the company's presence in the Indian furniture market and to take on the likes of Pepperfry, Urban Ladder, and Ikea.
Basis the demand and sales, Godrej Interio also plans to introduce selected online-only models to cater to a larger section of customers who love purchasing online. It is also looking at having AR integration on the website by the end of the fiscal year, according to the company.
The company said that the online presence will further strengthen the brand’s reach by covering 2,000+ pin codes..
“We have not launched our website for a pure e-commerce play, but more to maintain an omnichannel presence. Currently, we barely get 1% of our business from online through marketplaces; but with our website in place, we aim to increase the share of online to 10% in the next two years. Currently, we get almost 65% of our revenues from beyond just the tier 1 markets with a huge 52% from upcountry locations. We are growing at a CAGR of 15% over the last couple of years, compared to the market growth rate of 7-8%," Mathur said.