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Livspace to invest ₹25 crore in online to offline initiatives

Livspace, a home interior design and execution platform, has now jumped onto the omni-channel bandwagon after its five-year online stint in the online Market. The company has announced that it has opened four Design Centers across top metro cities in India.

With this, it aims to bring an omnichannel design experience to homeowners. By integrating thousands of online Livspace looks, visualization through virtual reality and an offline, tactile experience, the company expects the Design Centers to solidify its leadership position in the home design space in India.

The Design Centers serves as an addition to the existing network of a total of 11 Design Center and Experience Apartments, spread across Delhi NCR, Bengaluru, and Mumbai.

The company says that it has more such facilities in the pipeline — including flagships, small-format Design Centers, and Experience Apartments — this number is expected to grow to 25, over the next 12-18 months.

For this, a sum of ₹25 crore has been earmarked by LivSpace which will be utilized through 2018. These Design Centers are expected to double revenue by mid-2018, owing to an increase in conversion rate, with each center contributing around ₹4-6 crore by end of 2017.

Anuj Srivastava, CEO and Co-founder, Livspace said,

This omnichannel experience reduces the time customers take to finalize their order from 6-8 weeks in the traditional model to 2-3 with Livspace, by easing several key steps in the customer journey – selection, visualization, personalization, automated order placement and final installation from certified professionals. Additionally, the Design Centers inspire trust and also help in increasing the order size by over 30% in the purchase cycle.

Over the last year and a half, the company registered a 35% higher average conversion rate in Bangalore when compared to other cities, because of the Design Center.

In every Design Center the showcase of rooms — bedrooms, living rooms, modular kitchens, floorings, false ceiling, wall solutions, and, everything in between — is tailored to current design trends and preferences, and average budget range.

Customers can touch, feel and select materials for everything from wallpapers, kitchen and wardrobe shutters, flooring, etc., in the appropriate selection zones. Once a design has been finalized, an automated order will be placed for all items and services like an eCommerce order. Within weeks of a customer walking into a Livspace Design Center, the company’s installation and services team make the customer’s home look like the selected design.

In the online furniture market, it competes with the likes of Pepperfry and Urban Ladder. They are also entering the offline market to capture a higher percentage of market share, which is largely dominated by unorganised players.

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Livspace to invest ₹25 crore in online to offline initiatives


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