Project Report For Furniture Shop
The project report for Furniture Shop is as follows.
The furniture industry in India tends to make a limited contribution to the Gross Domestic Product ( GDP), which represents approximately 0.5 per cent of the overall GDP.
Roughly 85 per cent of such a business sector seems to be in the unorganized sector.
The demand for traditional furniture has reinforced the requirement for wood in the manufacture of furniture in India.
In the last few years, the use of timber goods in the residence has expanded as people are beginning to use wood for furniture, decoration as well as other purposes.
In addition, sales for designed furniture pieces are going up in metropolitan areas such as Delhi, Mumbai, Bangalore and other large cities.
The possible explanation behind this seems to be the increasing influence of fully prepared-to-assemble furniture pieces in these cities.
The international furniture market can be generally categorized into four categories-domestic furniture, office / corporate furniture, hotel furniture and furniture parts.
Market potential & Strategy
It is approximated that the Indian furniture sector is valued at US$ 7,922 million.
Of this, wooden furniture is worth US$ 1,358 million. Approximately 11 per cent (USD 152 million) of all this (wood furniture) is shipped and imports are growing at 50 to 60 per cent per year.
India was the world’s largest importer of furniture. Throughout that time, a total of 10, 476 importers transported furniture to India, mainly through Italy, Germany, Spain, China, Korea, Malaysia, Indonesia, the Philippines and Japan.
The selection of the indigenous furniture market in India involves both residential and contract furniture.
Indian manufacturers typically use a three-tiered sales and distribution system consisting of the dealer, wholesaler, and retailer.
The market is concentrated primarily in cities of categories A, B and C (the top 589 towns). Together, A and B style cities make up 33 per cent of the overall economy.
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