Hone decor / furniture industry is one of the highest profit promising industry today. The profit margins on home decor ranges from 20% - 45% depend on the price of the product. If you're looking to get quickly popular, I suggest you start with the online store and promote it on offline as well. Keep the margins low initially so that you can attract more buyers. As the business grows, reinvest the amount back on the business so that you can stock more varieties.
All the very best.
Answered 4 years ago
Two primary reasons that have contributed to this industry’s growth are high-margin products and less competition due to high entry barriers. Furniture and home décor items are expensive products, and the profit margins can be as high as 40%! Therefore, companies earn great revenue even after deducting shipping and other costs. While the margins are high, it is not an easy model to replicate because of the huge initial investment and emphasis on good quality & design. Therefore, the space is still not crowded unlike other ecommerce categories.
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Answered 3 years ago