Marketing Idea No. 149 – New spaces in furniture marketing

While I was buying furniture for my apartment, it struck me – how difficult this whole exercise is turning out to be! And the reason behind that was, I was looking for something that is not there in the market.

So what was I looking for? Basically I was looking for something different that would stand out. And while standing on the pavements of the furniture market and looking at the same stuff stacked one atop the other, over and over again in each and every shop….i knew that’s not gonna happen.

In the past, all the value addition and differentiation has taken place in the high price furniture for the upper end of the population. But while we are forced to live in similar looking apartments because of the space crisis in the city, two things are essential for us to make that house a home, custom made by us to make it live-able for us. One is the color and the other is the furniture. While in recent past, there has been much development in the paint sector ( People can now customize the look of their rooms), furniture is one area where personalization and customization is absent.

Is there one brand that specializes in making small furniture for small family for small apartments? As more and more apartments are getting squeezed into a cramped space, isn’t it obvious that we will need much smaller furniture? How about furniture for senior citizens? Because of their physical stature, isn’t it obvious that they need special kind of furniture? How about furniture for young and trendy? How about furniture for physically handicapped? Furniture brands have long been vocal about reducing profit margin and price – stickiness. But what they should really be doing is looking for value addition by observing what customers really need.

There is obviously a lot of space out there for any new furniture brands to move into. It’s a matter of picking the right strategy and making it work.

Advertisements

1 Comment

  1. Great post. Unfortunately, not sure there is an answer to this furniture situation in Dhaka at the moment. What is a real shame also is that the traditional, skilled carpenters who would make unique and quality furniture at relatively low cost are now out of business as a result of the influx of cheap, generic products that are readily available.

    There definitely is gap in the market. It is obvious too that some of the big local corporations have taken the initiative and tried to cater to the demand, but their products do not seem original, well designed or even true to our tradition of craftsmanship – they are not cheap either. I have a feeling that even if the products will eventually get better, it will be a long time before they are resonably priced – and you can’t really blame such manufacturers of exploiting the market situation either.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s