Everyone is unique and has distinct lifestyle choices. The options for developing your own style are limitless, whether it be earthy, inventive, pure, or romantic. As a result, furniture trends are always impacted by the community’s lifestyle or demands. Making a home feel like a haven entails selecting the proper furniture to meet your style, needs, and space.
On behalf of the Largest Marketplace in Sri Lanka – ikman, we have put together some interesting facts about the country’s furniture sector. Let’s look at the current state of the furniture market in Sri Lanka as well as current furniture costs.
Furniture Market Overview
Sri Lanka’s furniture market is fully dependent on raw materials sourced from the local market. The local Sri Lankan market supplies a variety of wood types including the famous Teak, Mahogany, Ebony, Jak, calamander, satinwood, etc.
Private sector companies own 95% of the furniture market in Sri Lanka. The Market share for furniture of state timber corporations is only 1%.
According to a market survey, household furniture is the main mover of the furniture industry in Sri Lanka. Among furniture items, 43% belong to bedroom furniture. Tables and chairs comprise 27% of the furniture items and 15% belong to living room furniture. More than 65% of the furniture in showrooms across 15 different manufacturers in Sri Lanka was made by Teak. 15% were made of Mahogany, 11% of Satin and around 7.5% of other wood types.
Furniture Ads on ikman by Furniture Condition
Statistics on the furniture market are more reliable now, thanks to online furniture shopping and the inclusion of SME (Small and Medium-sized Enterprises) companies in our platform.
Used furniture makes up about 17% of the ad listings on ikman, while new furniture ads make up about 83%.
Furniture Ads on ikman: Members Vs. Non-Members
ikman offers a membership package to help businesses of all kinds, including small and medium-sized ones, thrive online. Registering on ikman as a member will boost their business prospects.
Members of ikman are businesses that sell brand-new furniture in Sri Lanka. So if you’re looking to buy high-quality furniture, ikman is your destination.
For someone who wants or is currently selling furniture items, creating a presence on ikman can elevate their visibility and sales. And, since ikman doesn’t charge a commission like most e-commerce platforms in Sri Lanka, your cost of selling comes down significantly. This will allow furniture businesses or re-sellers to gain a competitive edge in the furniture market.
The infographic shows that over 77% of all furniture advertisements on ikman are posted by members, with the remaining 23% being listed by non-members.
Furniture Ads Based on Location
As the nation’s capital and foremost commercial centre, Colombo accounts for over 80% of ikman furniture advertising space, with Gampaha coming in second at 12% and other places like Kandy, Kalutara, and Galle ranking third through fifth, respectively.
As you can see, the business potential is greater in the outstations. There are buyers without enough sellers, and all you have to do is place your ad on ikman to increase visibility and sales.
Furniture Ads based on the Type of Furniture
Although the pandemic and the economic downturn have presented the furniture business with numerous obstacles, online marketplaces like ikman have helped steer the market on the path towards recovery.
Bedroom furniture, tables and chairs, living room furniture, and shelves and pantry cabinet, respectively, take up the biggest percentages of the overall ad area from our user statistics.
Top Furniture Brands in Sri Lanka
A review of Sri Lanka’s furniture market finds some well-known brands living up to their name. Using user data from 2022, ikman has identified the top furniture brands as follows:
Other leading furniture brands that need special mention are as follows:
- Don Carolis
- Singer
- Softlogic
- EH Cooray
