[Startup Bharat] This Mohali Startup Aims To Rejuvenate Your Space With Their Unique Home Decor Products
The growing importance of remote work demanded an aesthetically relaxed and lively environment. As people stayed at home, they opted to revamp their living spaces with unique and affordable decor.
“During the COVID-19 pandemic, home living space has become the most integral part of everyone’s life. I started this business to make homes more vibrant, given that we are now spending most part of our day in our homes. Our goal is to make luxury items affordable and reach more people,” says Ashima Singla, who started his own business inspired by his businessman father.
“A lot of these efforts were DIY, and people were looking for something out of the ordinary. luxury online,” says Ashima, Founder and CEO, Whispering Homes.
Launched in 2021, Based on Mohalioffers luxury home decor items including dried flowers, pampas grass, home furnishings, artwork, exclusive lamps, ceramic vases, temple ginger jar collectionsetc
Its in-house research team helps the startup identify the latest market trends to follow.
How it works?
wants to be the one-stop shop for everything related to decoration. Besides curating products, it acts as a marketplace and sales partner for small businesses and a sourcing partner for interior designers and architects.
Ashima says, “The products on our website are of high quality and reasonably priced with the idea of helping our customers afford luxurious home decor items keeping in mind the latest trend across the world. .”
Whispering Homes operates two business models: an inventory-based model and a small business marketplace.
“The inventory-based business model helps us ensure product authenticity and track competitive pricing. Interior design is our singular focus, and it’s about connecting customers and businesses with exclusively designed products. says Ashima.
To date, Whispering Homes has served over 3,200 customers across India, with the highest transactions of Hyderabad, Bangalore, Mumbai, Ahmedabad, Pune, and Gurugram.
The startup has more 1,400 home decor products (SKUs) on its platform – a few imported from China and the United States and the rest produced in-house. So far he claims to have sold more 8,000 products.
Ashima says, “We have partnered with small businesses that manufacture and help them sell on our platform. We work with over 50 designers and 15 brands on our platform. For the business-to-business (B2B) side, we work on the fulfillment of commercial orders for projects.
The startup sources its raw materials from small suppliers across India and some designers working exclusively for the brand. It sells through Amazon and AJIO Luxuryaccompanied by sound own website.
“Our business is based on e-commerce, and with the positive feedback from our customers, we have started to help companies revamp their residential, office, hotel spaces, etc.,” says Ashima.
Currently, Whispering Homes has a team of 16 members.
Funding and monetization
Primed with an initial investment of Rs 75 millionWhispering Homes product prices are between 399 rupees and 80,000 rupees. Its average ticket size is approximately 4,000 rupees.
The startup takes a commission between 15-30 percent small businesses, by product category. This commission also includes operations, customer services and shipping costs.
“We started retailing in October 2021 with just 35 orders and achieved a handsome revenue of Rs 2.7 lakh in the first month of launch,” says Ashima.
“Through constant marketing efforts and customer feedback, we have come a long way and are achieving total revenue of Rs 61.1 lakh in April 2022,” She adds.
The path to follow
According StatisticalIndia’s direct-to-consumer (D2C) home decor market was around $2 billion in 2020. It is likely to increase to $5.4 billion in 2025.
“Starting the business during COVID-19 has been a challenge. Another challenge was to make customers understand the quality of the product, as we are new to this segment. However, with the positive feedback from our customers and brand awareness, we are working on a solution for this,” says Ashima.
Since home decor is a highly visual activity, brands need to create an intuitive experience using images to align with home shoppers.
Whispering Homes, which rivals Nestasia, modern quest, and The DecorKart— plans to use augmented reality (AR) technology on its website to let people experience the products in their spaces.
It will also open avenues for those who wish to create their custom dream home projects, where they can recommend to startup clients what will suit them best.
In addition, he is working on the integration artificial intelligence (AI) and machine learning (ML) with its marketing tools and chatbots to strengthen engagement with customers.
The startup aims to expand into new markets, tap into the B2B market, and bring more small businesses on board.
“We plan to establish our systems and create a fulfilling shopping experience for our customers. From now on, our goal is to enrich this experience and we will consider funding in the future. We also plan to launch in Dubai. We have shipped a few B2B orders outside of India and plan to expand globally,” says Ashima.