Millennials are the maintaining a gypsy lifestyle, moving swiftly within and across borders. With this in mind, attachment to the house and things belonging to it is becoming a matter of the past. They no longer move with heavy hearts or heavy bags. Trends are changing more frequently than ever before, and in the race to keep up with the ongoing trend, the up gradation has to be quick enough. So, things which are replaceable must be replaced as and when desired.
This led to the birth of the rental economy – where one can rent anything from a needle to a car. One of the most interesting concepts the rental economy has introduced is the perception that ‘furniture is not to be preserved forever’. The dynamic choices, let people move on with the new furniture to a new place. Research suggests that 70% of Indians buy furniture between the age of 21-35 when they get married and relocate due to education or work. Most of these people buy cheap furniture and dump the old furniture, or because of the hassles involved, they skip buying furniture and continue adjusting without it.
The furniture rental market target this segment of the society by offering trendy and good quality furniture at affordable prices. The rentals start from Rs 1500 and goes up to Rs 15000. This includes furniture like bed, dining table, study table, photo frames, sofa, chair, etc. Depending on the requirement, one can choose the most suitable package. There are products for families as well – queen bed, coffee table, recliner, entertainment system, shoe cabinet, dressing table, etc. One can opt for the products for optimum usage or decorate the home. The furniture that is rented can be new or refurbished, but the rental services fully take care of the condition of the products.
The home furnishing market in India is increasing every year with new players entering the segment and realizing the potential. People are ditching the conventional buying methods without reluctance, and furniture like art pieces cannot speak out their respective prices, thus creating a large grey area for making profit. But consumers are not bearing the cost, as one well-maintained piece of furniture can be rented out to different people every 4-6 months. Also, selling old furniture is a hassle in itself – first one needs to find a buyer and then negotiating for a decent price becomes quite a task.
The rental model also swaps the furniture for you even if you are not shifting. This way one can afford to change the interiors and try multiple combinations to keep away boredom. The traditional furniture buying behavior is making a shift towards the online rental market. Consumers can rent the furniture of their choice with one click now. Also, one doesn’t need to bother about any added expense of refurbishing. Transportation becomes a hassle free affair.
Now, don’t you think renting furniture is better than buying and definitely is the new sexy.