After the great disruptions in the global supply chain due to series of worldwide lock downs and ceased productions luxury furniture buyers are weighing their options, Oksana Donska, CEO, Furniture of Ukraine Business Expo & Board Member, Ukrainian Association of Furniture Manufacturers in an exclusive interaction with Authindia reveals the furniture market scenario of Ukraine in connection with India.
How do you perceive the current state of furniture trade in global market?
According to the report of Business Research Company, the global furniture market is expected to grow from $ 564.7 billion in 2020 to $ 671.7 billion in 2021 – by 18%. In Ukraine, we feel this then as well inside of Ukraine as outside. As Ukrainian furniture manufacturers are full of orders.
How did the Ukraine furniture market fair in lockdown?
Pandemic has disrupted the international furniture supply chains due to the logistical collapse and shutdown of production in China are forcing many furniture buyers to look for new supply channels. Export of Ukrainian furniture has been increased during the first 4 months 2021 comparing to 2020 on 59.4%. Ukraine, which is geographically located in the center of Europe, has a lot of raw materials and strong human capital, acquires the status of a good alternative.
What is the share of Asia Pacific countries, particularly of India in the import of luxury furniture in Ukraine?
From India, during Jan-Apr 2021 there was an import of furniture and components for $89,400, during 2020 import was around $239,2000, which is less than 0,1% By official reports it is not possible to share luxury products and medium prices.
Who are the perspective buyers in your country interested in artistic furniture made by Indian artisans?
Products with aesthetic value like artistic furniture from India could be bought by interior designers when they create any residential or hospitality project in ethnic style. And the number of such kinds of projects could be increased with the special promotion involving famous Indian architects, organizing international events and common projects.
Cast a light on the significance of virtual cross border trade in the highly digitized world.
E-commerce is growing. Furniture eCommerce is growing too especially during quarantine. Global marketplaces like Amazon, ebay, Walmart let people order any type of furniture all over the world. Huge part of international furniture buyers in Ukraine are e-commerce business.
B2B furniture fair Furniture of Ukraine Business Expo will be held From 15 to 17 June in Ukraine. Among the international buyers which are going to visit the fair 42% are from online business. So highly digitized world becomes furnished.