Megatrends of Furniture Rentals in 2019 Furniture rental is no more a new concept, but it is on its burgeoning phase

By Sidhant Lamba

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Shutterstock

Furniture rental is no more a new concept, but it is on its burgeoning phase. Looking at the ever increasing demand, it could be rightly predicted that it is going to rise even higher in the coming years.

In this article, we discuss the upcoming new trends in furniture rentals that could be seen in the year 2019

1. Digital Shoppers - The aforementioned digitization trends have seen a major disruption in the market. To have a physical experience of the product before purchasing it, has become passé. The new tech-savvy crowd generating trust among online shopping sites. In 2019 the digital shoppers will see a magnificent growth, which will control the buying behaviour in the market.

2. Young Working Professionals - Gone are the times when a job-seeker would choose employment only in his/her hometown. The ever-growing startup culture and industrialization has made young professionals to make relocation as a part of their life. However, they are also aware of the huge amount of investment this movement involves. which is why they prefer to change cities or houses with no extra baggage to avoid extra expenses. The rental startups have come to them as a saviour.

3. Practical Newly Married Couples - Both the partners today like to share their responsibilities, economically and personally. They have become more practical in their spending after marriage. Gone are the days when parents used to decide on the house and decor for the homes. The newly married couples are more independent and want to take their own decisions. The new culture is moving towards accessibility as opposed to ownership. They know that change is consistent, so they don't want to settle down and own the things that will add an extra burden to them as they change home or sift to a different city.

4. Booming Tier 2 Cities - Talking about growth in startups and rise in industrialization, tier 2 cities have emerged as a big picture in the conventional strategic market. The kind of flourishing ecosystem that tier 2 cities offer has given e-commerce huge possibilities of growth. This is attracting the rich, upper middle class and even middle-class people to choose digitization of physical experience. New trends have been attracting their purchase behaviour, thereby, allowing the furniture rentals to b the part of their life.

5. Economically Smart Millennial - The younger generations are becoming smarter when it comes to living the life they want and spending on the same accordingly. While the millennial move away from their homes to study and choose to stay at a rented flat over hostel, they seek the comfort of home in their lifestyle. To support that they also like to furnish their rooms, and yet being economical. To them, rental startups come as a rescue, as they can just rent the piece of furniture they want to add and use it only as long as they need them. With the changing trend, they can also get that exchanged from the companies, that too without paying extra.

Sidhant Lamba

Founder, Fabrento

Sidhant studied Interior Design at AID Design School in Delhi, followed by a Masters in Business Management from RBS London and short stints at Central Saint Martins, Inchbald and Sotheby’s London. 

He joined the family business, The Continental Group, striking out as an independent designer with his STROT line and also set up STROT, the ultra luxe home store in South Delhi. He is now the founder of Fabrento, providing access to state-of-art furniture for rent at the most affordable rental prices with free delivery, setup & installation.  Fabrento aims at creating your dream home into reality in just one tap. Fabrento is Backed up by Continental Group, who has set a lasting impression in the field of interior solutions since 1940's. Fabrento believes in curating products that are skilfully designed to perfection and are highly user compatible with commitment for delivering outstanding customer experience.

 
 
Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business Solutions

Get a Lifetime of Powerful PDF Tools That Won't Give You a PDF Headache

Banish frustrating PDF issues forever and just breeze through all of the old problems with editing, formatting, converting, annotating and more.

Technology

GCCs Hold Immense Potential for Tredence in the India Market: CTO

Tredence has raised a total of USD 205 million till date – USD 30 million in Series A (2020) followed by USD 175 million in Series B (2022)

News and Trends

Lightstorm Secures INR 700 Cr Funding from NIIF IFL

The fresh capital will be utilised to expand this network footprint, enhance operational capabilities, and drive innovation in digital infrastructure solutions for large enterprises.

News and Trends

Atlys Acquires Artionis UK to Enhance European Visa Services

With this move, Atlys aims to simplify visa paperwork and provide faster services, with plans to expand into Germany and France soon.

Science & Technology

How Can Marketers Use ChatGPT? Here Are the Top 11 Uses.

With the recent developments in AI and the popularity of ChatGPT, you may want to integrate AI into your marketing practices. Find out how.