Tapping the Potential Market - The New Age Social Platforms

Neerav Jain, Founder, CityFurnish CityFurnish is India's fastest growing rental brand that provides home furniture and appliances with easy and affordable rentals

Social Media Marketing is enormously instrumental in brand building, more so during the foundation years of the brand. It makes all the more sense for e-commerce brands to harness the power of social media for various aspects of brand building as their business and target audience both exist in the digital universe. If used in its right capacity, social media marketing not only helps in identifying the right set of audience for e-commerce businesses but also boosts customer engagement. “Social Media is a powerful and the most focused marketing tool for e-commerce businesses. It acts as an impetus in creating focused marketing strategy for brands, to attract and retain customers through continuous engagement and thus, building brand network in long run.” says Neerav Jain Founder & CEO CityFurnish. Be it Instagram, Snapchat or LinkedIn, social media marketing tools have evolved over the last decade. It helps identify the customer needs, provides an insight on the customer spends and help brands deliver tailored content that inspires customers to make purchases. Being an online furniture rental brand, leveraging the various marketing and promotional tools of Social Media have turned out be momentous for CityFurnish. “Resorting to Social media during our acquisition phase turned out be fruitful for us. It helped us to create a strong consumer database; gaining valuable insights on customer’s demands and expectations. Most importantly, their feedback and experience with the product have helped us realign our goals to keep the focus.”

For Neerav Jain, the social media platforms helped him target the right communities on Facebook during initial stages of business. Linkedin was particularly insightful in capitalizing on the right set of target audience who were comparatively more welcoming to the idea of migration, and a concept like Furniture Rental just helped the cause. Understanding the market dynamics and gaining valuable data and insights, it further gave momentum to the business. Traditional marketing is time consuming for brand building and in scenarios where startups and e-commerce are looking for conversations in a highly volatile market, social media marketing aces the concept of brand building in lesser time.

Making Furniture Renting Mainstream by 2020
Renting is a known phenomenon to all but 'Rentals Online' is a pretty much new concept. Everything you need instantly comes to you right at your convenience and in a smarter way out. As time has passed; the population seems to be more active in renting option than purchasing one. We have seen the evolution of how bikes, cars, garments and more are opted for rented, for a shorter period. Even furniture renting space has also not been left behind. In India, just the market for rental of furniture is seen at around $800-850 million.

Indians traditionally give preferences for owning. But as the mindset is gradually changing, the population today demands a fancy lifestyle rather than
an old-fashioned out. Moreover, the millennial that are moving between cities and moving for the town for the jobs opportunities need to settle at the earliest, these rental platforms in the budding furniture space are ushering the market place with disrupting innovations.

By 2020, we will propagate the renting market advantages and rise to the pinnacle with disseminating the philosophy forward in the online furniture renting space

Similar is CityFurnish, India’s third largest and rapidly growing furniture, furnishings and appliances rental brand. Set upon the task to provide smarter lifestyle solutions, the company is revolutionizing the on-demand rental economy by making renting affordable and easy. In no time it has been able to mark its presence with an asset book of more than INR 10cr. The company is now the most diversified rental player in the market with products ranging from furniture, furnishings, appliances and fitness equipment. Apart from residential furniture, the company also has an accelerating presence in the commercial and hospitality segments.

An epitome of comfort and utility, it serves all with its unique designs and focuses on the on economical and space saving urban users. With the vision to be a benchmark in country’s Furniture Rental Industry, the company has structured its journey on four key pillars i.e. Asset Efficiency, Value Creation, Innovative Approach and delivering high-quality Customer Satisfaction.

Customer Connection & Product Delivery
One major problem in the rental industry is the proper rental store available in the market does not focus on the product quality itself, like the experience with the customer would get, once the product is delivered to their house. There is an existing gap which is needed to be identified and bridged. CityFurnish hereby understands and delivers the element as wells provide the kind of furniture where the customer would aspire for.

As the future of furniture retail economy is flourishing, currently the people are slowly getting the awareness of the sector as a whole. When talked about tier 2 towns in India, Furniture rentals is something which is, not heard of yet. The complete economy as a whole is still growing on, and the estimation of the market is by 2019 - 2020, the Rental furniture would be actually at its peak. Also, the emergence of platforms such as Furlenco, Urban Ladder, PepperFly has led people to opt for the subscription model, for more of a design utility, to a point of few.

The Buying & Selling Industry
Subscription in any day makes much more sense, like on a very rational mindset. Apart from the rational approach for the users, the company provides flexible convenience. It takes care of the relocation, maintenance of the furniture, and even offers add-on functionality of convenience to the user by offering other commodities. Such as mattress & other essential commodities. The company takes only 72 hours to deliver its products to the required customer.

Disruption in Rental Market
The major disruption what is happening now is basically the people are in the calculation of buying & renting as a choice. The scenario has changed. Renting, as an option was not so relevant. But now, the choice is been available to the users. That is one of the major disruptions. It at the same time shows the significance of the growing market, consumer behaviour & overall inclining towards renting. Quality is the forthe at CityFurnish.

SmartFurniture - The Next Thing in Furniture Space
SmartFurniture is already in the pipeline. We at CityFurniture are leveraging into category Smart Furnitures. Basically, the complete focus we are trying to do in CityFurnish is that the blockage or the limitations to customer shift is minimum.

If we add more value on the same commodity in the services we are providing, the usage of consumers become enough stronger. This is the analogy we are trying to bring in soon. Soon it is going to launch bed & a sofa, both complemented with the usage feature & light. And derive d more value in the future.

As renting today has also become a buzzword, the users have already been aware of it and the facilities provided. By 2020, we will propagate its advantages and rise to the pinnacle with disseminating the philosophy forward in the online furniture renting space.