Taking advantage of the booming domestic retail market, the first of its kind expo- ‘Home & Beyond’ was concluded today at the India Expo Center & Mart, Delhi- Greater Noida Expressway in the National Capital Region of Delhi. The four day exhibition organized by India Exposition Mart Ltd. had 100 direct participating companies in addition to the 900 permanent showrooms, showcasing home décor and lifestyle products.
It attracted visitors from a cross section of the home trade including buyers, merchandisers representing retail houses, retailers, traders, buying houses, wholesalers and mail order suppliers etc. More than Rs. 3 crores worth of business has been generated by the companies participating in ‘Home & Beyond’.
Reflecting on the booming domestic retail business in India Shri Navratan Samdria, Chairman IEML said that the retail sector in the country is growing rapidly for the last few years. The domestic retail market both organized and traditional is estimated to be of the value of US $ 320 billion and is expected to grow at a compound rate of 35% per annum. India is poised to become a leading destination for retail business in future with 1.2 billion population, more than 50% of the population under the age of 25 years. Besides this 29% urban population, rising incomes, changing lifestyles, attractive interest rates, mortgages, retail loans, credit cards are all leading to a consumerist culture. The upper income class is expected to rise faster then lower income class. Urbanization of population is also expected to increase from 29% to 32% by 2010. 720 million more are expected to join the consumer class. Therefore, the future belongs to one who wants to be the citizen of this retail country. Everyone has the opportunity to create special brands and designs.
The range of products on display at ‘Home & Beyond’ included home decorative, kitchenware, table lamps & lighting accessories, home appliances, home electronics and entertainment systems, tableware, bathroom accessories, Ethnic & traditional furniture, modern furniture, hotel/restaurant furniture, cane & bamboo furniture, Furniture hardware & accessories, Wall decorations, lighting & lighting fixtures, electrical fittings & appliances, Bath room & fittings, paints & coatings, home security systems, stones & marble, Textiles & fabrics, made ups, carpets, rugs, durries & floorings, embroideries & knits, trimmings, embellishments & accessories, handles, knobs & hardware, locks, curtain rods & fancy fittings, Awnings & window décor, fences & Gates.
Giving his comments on the response of domestic buyers to the show, Shri Rakesh Kumar, Managing director, IEML said that “The four day exhibition attracted more than 1200 buyers representing retail houses, retailers, departmental stores, buying houses, sourcing houses, interior decorators, builders, wholesalers suppliers etc. The show was successful in attracting leading names of business visitors including , Pantaloons, Home Town, Reliance Retail, The Bombay Store, Home Depot, Whirlpool, Hawkins, McCoy Sourcing, Wal-Mart-Bharti Group, Mahindra Housing Project, Omaxe Group, Vatika Group, etc.