India’s potential lies in the growth of smaller cities that have been witnessing transformation over the years. While the metros will continue to witness emergence of new malls and lifestyle stores, almost a-third of new development will happen in the Tier-2 and Tier-3 cities views Team AOI, speaking to the heads of some popular retail brands. Also globally, homeware category is growing phenomenally, amounting to US $ 1,97,629 million in the last fiscal, with overall consumption witnessing a double digit growth. According to Statista, the annual revenues in the furniture and homeware segment will rise at 10 per cent in the period 2019 to 2023.
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