Hyderabad: Consumer demand for home products in India is increasing at a rate of 20-25 per cent. And experts say Hyderabad is registering a growth which is above the national average with about 30-35 per cent year-on-year. Retail buying in the city has seen a significant surge in the last couple of years.
HGH India managing director Arun Roongta told Telangana Today, “Hyderabad’s unique blend of tradition and modernity will take the city’s home market growth story forward. Hyderabad is becoming the hub for home textiles, decorative accessories and houseware. With the co-existence of these components in the home market, the city has seen an influx of large number of national and international branded home stores.”
He added, “With rising per capita income and growing affluence of customers, the demand for more innovative, time-saving and convenience-oriented home products in Hyderabad is bound to grow. With Hyderabad attracting investments in both manufacturing and services sector, migration of people from other States has reached an all-time high. This is leading to demand for more houses along with the allied products associated with setting up of new homes.”
For consecutive years, Hyderabad has ranked on top in the ‘Quality of Life Index’ in India and the people here have developed a taste for a mix of unconventional and modern choices when it comes to home décor and product designs, particularly in the carpet and upholstery market.
Hyderabad-based Darpan Furnishings managing director Suleman Hirani, said, “With the growth in IT, life sciences and banking sectors, home buying has picked up in Hyderabad. Home category has seen a huge transformation in the last few years.”
He added, “We are constantly working on making innovative products and designs from newer sources. Aspirations of customers are changing and it’s a good sign for home products segment. We have created six stores in Hyderabad alone.”
HGH Trade Show
Roongta says, “At our annual HGH India trade show that we will be hosting in Mumbai between July 2 and 4 this year, we have decided to bring the home products of Hyderabad. Both home retailers and manufacturers from Hyderabad can showcase their creations in textiles, décor and houseware in the expo.”
The trade show will connect the buyers of home products with retailers, artisans and micro enterprises. Specality stores, luxury stores, boutiques, department stores, hyper markets, institutional buyers, interior designers, franchisees will attend the event besides importers and distributors.
Last year the trade show attracted 600 exhibitors from 30 countries and 35,000 retailers and buyers from 480 cities and towns from across India. This year over 40,000 retailers and buyers are likely to participate in the trade show.
Home products market is growing fast. Home textiles segment alone is going to cross Rs 36,000 crore this year. Wallpaper and mattress segments are growing at a rate of 100-150 per cent.