AN ANALYTICAL STUDY FOR CHANGE IN URBAN INDIAN RETAIL CONSUMERS BEHAVIOR IN RECENT PAST IN LIGHT OF MAKE IN INDIA CAMPAIGN

The entry of international brands and changing consumer preference had led to the emergence of furniture retailing in India characterized by dreamy designs at affordable prices. However, the Indian furniture sector making a marginal contribution of 0.5% to India's GDP was expected to grow at a rate of 14% by end of 2016. The first step towards allowing Foreign Direct Investment (FDI) in multi-brand retail Retailing was taken in the year 2006 followed by allowing 100% FDI in single brand retail in 2012 to give consumers greater access to foreign brands. Online retailers had been increasingly active in this segment. Swedish furniture major IKEA decided to roll out its stores in India, German Rocket Internet-sponsored ‘Fabfurnish' and Norwest Venture Partners-funded ‘Pepperfry' were among those who had entered the furniture segment. Reyami Interiors Pvt Ltd a member of Dubai based Rs 1700 Cr AI Reyami Group and Rock worth of Thailand a premium modular manufacturer is planning to have its operations in India shortly. The study extensively focused on selected Indian urban markets for furniture to explore the possibility of acceptance of modular furniture and online purchases for furniture by Indian consumers and the extent of change in consumer behavior in recent past specifically for unorganized retail market to survive in the current scenario.