Ikea is an American furniture chain company that has stores all over the world. Customers can buy any furniture they want, like beds, TVs, etc. The company is a Swedish company and has its headquarters located in Delft, the Netherlands. The company is located in 445 cities and has stores all over the world, like North America, India, Europe, etc. The company has a revenue of $41.3 billion and has been the number one ready-to-assemble furniture shop all over the world since 2008.
Ikea’s Top Products Include:
- Billy bookcase: this product is one of Ikea’s best-sellers because it can be transformed into anything from a pantry to a DVD storage component. The product is available in different styles and colors and many companies have now started making these, which were originally designed by Ikea. It is usually around $70 at Ikea.
- This chair was designed by a Japanese craftsman and it has been one of the best-selling products of Ikea for the last 40 years. The chair is infinitely flexible, so it works for relaxing and drinking tea in the morning and reading books at night and feeling sound sleep. It is available in different textures and is available from printed cotton to linen. The price of this chair ranges from $70 to $240 at Ikea.
- It is said in Europe that 1 out of 10 beds in Europe are Malm beds by Ikea, and they are not wrong as the bed is a mixture of wood and veneer, which you cannot see the difference from afar, and the primary purpose of it is to hold the mattress without the use of bells and whistles. It is sold for $179 at Ikea.
- Kallax shelf unit: you will find this kind of storage device in every home furniture store, but the Ikea one is much cheaper than the others, which is why it is one of the best-selling products. The price range is from $35 to $199, which is segregated from the 4 unit hole to the 16 unit hole version.
- Ektorp sofa: the sofa is one of the most important purchases in your house as everyone, from guests to housemates, sits on it, so Ektorp offers a more traditional style to it rather than the same old Scandinavian sofa. Being a traditional model, it appeals to a lot of designs and that’s what makes it a best-seller product in the sofa range for Ikea. The price for this sofa is $380.
Stores like Ikea:
The top 5 replacements for Ikea are all modern, including Overstock, Fab, Etsy, and Scandinavian designs. These companies also have a massive target audience and are potential throne dwellers for Ikea. These five potential companies could dethrone Ikea, which currently reigns supreme in the global furniture industry.
Some information about the possible competition:
- All modern: their massive retailer and the entire shop is online, which means the cost price is way less than Ikea, meaning more profit, and they have the best customer service and the price ranges are less than Ikea for some of the major products, although their website design is not the best, as it may take a long time to find the right thing in their massive catalog of items.
- Overstock: This retailer used to only sell products related to home décor and furniture, but as their business expanded, their sales have pleasantly surprised everyone. Their shop provides a very strong selection of products with design and styles, and their prices are at a very good discount if you become a regular shopper with them.
- Fab: this store is more of a high-end product shop, which means that their products are much costlier than the normal market price. Of course, their quality is worth the price, but the customer runs for the price sometimes. For this, they have now launched many new products which are manufactured by them, so the cost is lower and they have introduced a new section of those items which have now become their best sellers as they have achieved the goal of capturing the middle market rather than the niche market.
- Etsy: the same problem as all modern massive catalogs, so the time is wasted on this online shop, but the main plus point of this store is that they take products from small businesses and give them a platform for showcasing their business and their products, which makes it unique.
- Scandinavian designs: this is what you say is the best copy of Ikea, as they sell the same designs and same style but at a higher rate as the aesthetics and quality are way better than Ikea.
Conclusion
So the potential companies can very well break the market for Ikea, but the best-selling products of the company cannot be touched as the people have fairly made them theirs.
FAQS
- How often is Ikea stocked?
Every one or two days, it is restocked.
