Background of the company

IKEA is a privately held, international home products company that designs and sells readyto-assemble furniture such as beds and desks, appliances and home accessories. The
company is the world's largest furniture retailer. Founded in 1943 by 17-year-old Ingvar
Kamprad in Sweden, the company is named as an acronym comprising the initials of the
founder's name (Ingvar Kamprad), the farm where he grew up, and his home paris
(Timetoast, 2013). IKEA has 300 home furnishing superstores in 35 Countries and was
visited by some 583 million shoppers (K. Kling and I. Goteman, 2003). IKEAs low priced
elegantly designed merchandise displayed in large warehouse stores, generated sales of
$21.2 billion in 2008, up from 4.4 billion in 1994 (Pattairman, K., 2013). The fledgling
company sold fish, charismas magazine, and seeds from his family farm. His first business
had been selling matches, the enterprise Kamprad purchased them wholesale in 100 box
lots and then resold individually at a higher mark up. Before long, Kamprad had added
ballpoint pens to his list and was selling his products via mail order.
In 1948, Kamprad added furniture to his product line. In 1949 he published his first catalogue
(Timetoast, 2013). Kamprad hired 22 years old designer, Gillis lundgren originally helped
Kamprad to dophoto shoot for catalogue but, later he became a designer of many furniture
for IKEA. Its goal was over time to provide stylish functional design that can be cost
effective. Ultimately this led to concept of what IKEA calls democratic design. In 1957,
IKEA started to exhibit and sell its products at home furnishing fairs in Sweden (Pattairman,
K., 2013). By 1958, an expanded facility at the Almhult location became the first IKEA store.
The original idea behind the store was to have a location where customer could come and
see the IKEA furniture set up. Kamprad experimented with adding restaurant to the store so
that customers could relax and refresh when shopping. The restaurant was hit and, it
became an integral feature of all IKEA stores. In 1965, IKEA opened its first store in
Stockholm (K. Kling and I. Goteman, 2003).
By now, IKEA was generating the equivalent of $ 25 million and had already opened a store
in neighbouring Norway (Pattairman, K., 2013). IKEA experimented with a self service pick
up solution, allowing shoppers to enter the warehouse, load flat packed furniture on to
trolleys and then take them through the checkout. It was so popular that soon it became the
company norm in all stores. By 1973, IKEA was the largest furniture retailer in Scandinavia
with nine stores. The company enjoyed market share of 15% in Sweden (Timetoast, 2013).
The main in charge of European expansion was Jan Aulino, Kamprads former assistant,
who was just 34 years old when the expansion started. IKEA also entered in North America,
opening 7 stores in Canada between 1976 and1982and got success then in 1985 in entered
in United States later the company found that its European style offerings did not always
1

resonate with American consumers. IKEA also acquired Britains Habitat in the early 1990s
and to run it under the Habitat brand name. In total there were 285 IKEA stores in 36
countries and territories (K. Kling and I. Goteman, 2003). And important limiting factor on the
pace of expansion was building the supply network.
Later IKEA opened its store in China. In china store was located near public transportation,
and IKEA offers delivery services so that Chinese customers can get their purchase home.
The store them salve are large warehouse festooned in the blue and yellow colour of the
Swedish flag that offers 8000 to 10000 items, from kitchen cabinet to candlesticks. There
plenty of parking outside and the stores are located with good access to major roads
(Pattairman, K., 2013). The interior of the stores is configured almost like a maze that
requires customers to pass through each department to get to the checkout. By 2008, IKEA
had 1380 suppliers in 54 countries (Jafry, A., 2012). IKEA always maintain a good relation
with its suppliers and insist them to buy new technology so that the production cost could
decline

Porters Five Forces

Threat of New Entrants
There are little or no entry barriers, but intensity of competition may scare off potential
entrants. The required initial investment is not substantial and economies of scale can be
used easily. To compete effectively with IKEA, the competitor must invest a greater amount,
develop long-standing relationships with clients, and select suitable and competitive
locations for outlets for which much patience and capital is required. It is relatively difficult to
establish in major cities and gain the reputation of IKEA, establishing a vast supply chain
and creating a unique brand name. Due to less regulation, the threats of new entrants are
high, with no immediate threat because of the intensity of competition.
2

Bargaining power of suppliers

The bargaining power of suppliers is considerably low. IKEA has succeeded in managing
and maintaining long and well-established relationships with suppliers across the globe.
IKEA has been recorded to have 1380 suppliers in as many as 54 countries, 21% of which
are established in China in 2008 (Jafry, A., 2012). IKEA also possesses their own
manufacturing company, Swedwood Manufacturer which manufactures its own designs.
Therefore suppliers possess less bargaining power, and can be compelled to meet the terms
of IKEA rather than vice versa.
Bargaining power of buyers
There are a number of retailers with a direct price-war occurring, while there are many
entities who are importing from China involved in direct competition with IKEA. Consumers
are faced with many choices and alternatives, and there is great amount of bargaining
power at present with the buyer, due to greater choice. The buyers themselves have
a substantial degree of inuence over IKEA's product line and direction; for example, as
mentioned in the history, IKEA developed the concept of at packaging at a buyers
suggestion, making it convenient for the buyer. Due to escalating demand from buyers, IKEA
will continue expanding geographically, opening 50 stores in North America by 2010
(Caplan, 2006).
Threat of substitute products
No specic product can substitute the furniture, but IKEA needs be updated with the latest
trends, to avoid losing their name for style. Through simplicity of design and innovative
technology, IKEA can follow any new style fairly well and rapidly and move each the product
into its stores. Ever since the inception of the concept of furniture, styles and trends in that
sense have undergone much change. Since the current trend is going-green, many
rms are following this concept. However, the demand for basic, functional furniture
has remained relatively constant, therefore there is less threat of substitutes in the near
future.
Rivalry among competing rms
This is a highly competitive industry, characterized by other low priced furniture producers
such as Galiform of England and retailers such as Wal-Mart of the United States In addition
to local competitors. Due to the competition worldwide, IKEA has wisely attempted to
compete by entering the China and Japan, markets which pose the largest competition
(Caplan, 2006). Many retailers are present, and a number of them import products from
China selling at a low price signifying intense competition.
3

IKEAs SWOT Analysis

Strengths
Powerful image brand.
Wide range of products and styles
Cheap and affordable.
Furniture easy to assemble and ship.
One stops shopping.
Friendly atmosphere/ store layout.
Facilities: restaurant/ day-care centre.
Strong global sourcing capabilities.

Weakness
Assembling furniture yourself may be
unappealing to certain groups of

consumers.
Relatively few locations.
Store layout a hassle for those who

want a particular item only.

Swedish designs may not appeal to

all American markets.

Furniture is not built to last a lifetime
Opportunities
Threats
Different type of stores such as
Indirect threats from Wal-Mart and

outlets or high-end labels.

Increase online sales and internet

presence.
IKEA can expand into many more
cities in the world.
Use the popularity among young

furnishing markets. IKEA needs to

people to expand to college markets.

Existing stores are few and large,

compete with these.

Economic factor- the recession slow

new

store

could

be

many

home depot.
The global economic crisis.
Market forces- more competitors
entering the low price household and
reinforce

and

down

smaller.

its

unique

consumer

qualities

spending

disposable income reduces.

to

and

Strategies used by IKEA

1. Low-cost leadership strategy.
IKEA has a unique business model that connects the needs of our customers with the
possibilities on the factory floor. With a deep knowledge about life at home and the
challenges most of us have with limited space and wallets on one hand and big dreams on
the other, IKEA often develops its products directly on the factory floor (Jafry, A., 2012). The
starting point for product developers and designers is always the price. Together with their
very skilled suppliers, they make sure to get the most out of the possibilities in the production
plans. They adapt the sizes and constructions of their product. So they can produce,
package and transport them in the most efficient way. They also put a lot of effort into
developing the materials, to improve them and save resources. A limited range of articles
and big sales volumes make it possible for them to keep costs and prices down. On top of
this, their customers contribute to the low prices by collecting, taking home and assembling
the products themselves. Today, the customers can even design their kitchen or wardrobe
themselves using IKEAs computerized planner tools. IKEA do their part, customer do theirs
and together, they save money.
2. Product strategy.
IKEA had wide range of products according to the need of consumers. The products
available for different sections of the society. IKEA had diversified product line and product
depth for example for kitchen area, room, toilet area and more. Low priced furniture store
provides reassemble furniture and casual furniture. Most of IKEAs products are stylish that
makes the company unique. IKEA use the concept of flat packaging, which makes it easier
to consumer to transport the furniture (Jafry, A., 2012). IKEA design s its own furniture and
offers a variety of style for interested consumers to choose from.
3. Promotion strategy.
IKEA use high profile advertisement campaigns. They spend 70% of annual marketing
budget in printing catalogs (Jafry, A., 2012). IKEA had providing home delivery service to its
customers and after sale service to the customers. They also had online advertisements.
4. Operation Strategy
5

IKEA's success is based on the relatively simple idea of keeping the cost between
manufacturers and customers down. IKEA doesnt have its own manufacturing facilities.
Instead, it is using subcontracted manufacturers all over the world for supplies (Swedwood).
On top of that, in order to maintain low cost, IKEA customers have to assemble the bought
products themselves. That creates innovation upstream, which help suppliers to save costs,
and downstream, as self-assembly became a large cost saver for customers. On the other
hand all R&D activities are centralized in Sweden.
To make shopping to easy and comfortable experience, IKEA provides catalogues, tape
measures, shopping lists and pencils at the store entrance to list down product details like
item code and respective aisle number in the stores warehouse and measurements. IKEAs
intention was to take customers through all of its products so that even a customer who
entered the store with a planned shopping list would check out other products which might
interest him/her. However, shortcuts were also provided at a few places and these were
mentioned on the floor maps that were made available to the customers. The storesmain
aim is to gather everything for the home under one roof.
IKEA chose its store location on the city outskirts as the companys stores were large and
required huge parking spaces. IKEA realized that its customers were visiting stores in their
cars and that resulted in higher carbon emissions. Hence, the company made sure that the
store location chosen was well connected through public transport so that environment
conscious customers could visit IKEA stores using public transport. The stores are designed
as very large blue buildings with yellow accents and innovative layout inside. The stores
were designed in such a way that furniture was displayed in a real room setup, along with
the details of each displayed product.
5. Market development strategy.
Target new segments and enter new markets with existing products. The potential benefits of
international expansion are increased market share, revenues, profit and buyer awareness.
In Europe :
IKEA is planning to open 10 new stores in Europe.
Russia is potential market for IKEA because the economy of Russia is

expanding.
Germany is a largest market of IKEA.

In North Americas :
America market can be tough for IKEA as there are big competitors like

Fortunebrands, Jarden and Masco exists.

IKEA planning to open 5 new stores in USA.
6

 In Asia :
Asia is a large potential market for IKEA.
IKEA is planning to enter in India.
In 2011 IKEA is opened in Malaysia.
China, Japan and Singapore are profitable market to expand.
In Australia :
Australia is a big market for IKEA. There is always demand for ready to

assemble furniture.
IKEA planning to increase employees in the stores.
IKEA is currently operating in all the states of Australia and planning to open
more of stores.

Potential market of IKEA :

Currently IKEA is not operating in Latin America (Mexico, Brazil, Chile and

Ecudor).
Africa can be profitable market for IKEA (South Africa)
In Asia, India is a big potential market.
IKEA is planning to open new stores in China.

Analysis of strategies used by IKEA

Based on my point of view, I could say that the strategies used by IKEA are good and
effective.
1. Low-cost leadership strategy
For the first strategy which is Low-cost leadership strategy, there are several advantage for
being a low cost leadership company. One of them is:

One benefit available to low-cost operators in an industry is higher profit margins

(Kokemuller, N., 2011). If IKEA can sell products and services with a lower cost basis
and competitive pricing, IKEAs margins are greater than companies that invest more
to produce products of a similar quality. In essence, one option for a low-cost leader
is to achieve more earnings from their products than competitors with higher costs.

Sources: http://www.statista.com/statistics/241801/gross-profit-of-ikea-worldwide/

Based on chart above, it is proved that IKEA able to had higher profit margin and it is
increase for every year since 2009 until 2014.
2. Product strategy.
It is mentioned previously that IKEA had wide range of products according to the need of
consumers. Based on my opinion, having broad product is a good strategy. So that the
customers have a lot of choice to be made based on their interest and consumption. In
addition, wide product portfolio helps the business to cater to different segments of the
market. For example by introducing IKEAs basic foam mattress range caters to the lower
socio economic groups as well as the supreme mattress which helps cater for higher socio
economic groups means that IKEA are covering mass audiences in their target market.
This is clearly an advantage as it means that IKEA will be able to make sales from both
customers that have a lower budget as well as the customers that require luxury products:
this will further benefit IKEA as it means they will be able to spread their exposure and
influence on the public by establishing a good reputation and word of mouth by making
products that appeal to a large range of buyers. The good of product strategy did by IKEA

can be proof by the number of visitor to IKEA increase in almost every year. The number of
visit shows that customer like and prefers the product produced by IKEA.

Sources : http://www.statista.com/statistics/241828/number-of-visits-to-ikea-stores-worldwide/

3. Promotion strategy.
IKEA had variety of sources to implement the promotion strategy. IKEA provide printing
catalogue to their customer, providing home delivery services to its customer and after sale
service to the customers. They also had online advertisements. Promotion strategy is very
important to any company. It is because one aspect of a marketing plan affects all of the
others, coordinating your activities is critical to eliminating interference and maximizing the
company profits.
A marketing strategy looks at all of the areas of the company selling activities and helps
each one support the next. So I think it is good for IKEA for having promotion strategy but I
think IKEA should broaden more promotion strategy in future. For example by advertise it in
the magazine or provide coupon to attract more customer to come.
The success of promotion strategy did by IKEA can be proof by 1.5 billion had visits to
IKEA.com in 2014. It is increase 15% from last year (SA, I., 2012).
4. Operation Strategy
Based on my opinion, the operation strategy used by IKEA is effective to reduce the cost for
manufacturing in order to provide low cost product to their customer. IKEA able to get the
lower cost by using subcontracted manufacturers all over the world for supplies
(Swedwood).
9

Companies producing large volumes of one generally have lower costs than principals or
main contractors who have to handle many tasks and goods. Subcontracting to these highvolume companies generally saves substantial amounts of money.
On top of that, in order to maintain low cost, IKEA customers have to assemble the bought
products themselves. That creates innovation upstream, which help suppliers to save costs,
and downstream, as self-assembly became a large cost saver for customers. On the other
hand all R&D activities are centralized in Sweden. Having R&D is very important because
research and development is a key driver of innovation, competitiveness and economic
performance. By having R&D, IKEA able to developed new product based on customer
different need. IKEA also come out with special edition furniture during the festive season.
For example during Chinese New Year, most of the furniture and home decoration will be in
red colour because IKEA learned that their Chinese customer more prefer to decorate their
house with red colour tone during Chinese New Year season. The success of operation
strategy did by IKEA can be prove by the fact that until today, IKEA range consists of 9,500
home furnishing articles, designed to be functional and good looking but at a low price (SA,
I., 2012). Each item is developed by IKEA of Sweden, which is also responsible for giving
each product its unique name, such as BILLY and KLIPPAN. It shows the successful of
IKEAs R&D and low price operation strategy.
5. Market development strategy.
Lastly, I personally think that market development strategy done by IKEA is very good. It is
because target new segments and enter new markets with existing products will lead
increased in market share, revenues, profit and buyer awareness. For example, being close
to the customer is important for success in business to develop more of a personal
relationship.
By having more outlet or branches, IKEA will be more close to their customer. It will make
IKEA be more recognize by customer and can increase the number of customer. IKEA can
expand their business in existing market by open new outlet and also enter new market that
IKEA never did before. The good of market development strategy did by IKEA can be proof
by increasing number of store opened by IKEA for every year. For example, IKEA had 315
stores in 27 countries until now and the number will continue growing for every year.

10

Discussion
I think that IKEA can be categorized into a good company because:
1. Increasing of revenues and gross profit for every year.

Sources: http://www.statista.com/statistics/264433/annual-sales-of-ikea-worldwide/

11

Sources: http://www.statista.com/statistics/241801/gross-profit-of-ikea-worldwide/

Based on the chart above, we can see that since 2001, IKEA showed a good reputation in
revenue. The revenue is increasing for every year. Latest, IKEA is able to generated 29.3
billion Euros in 2014 compare to 28.5 billion Euros in 2013. This is the highest amount since
2001. Same goes to gross profit that increases every year since 2009. Companies with high

gross margins will have a lot of money left over to spend on other business operations,
such as research and development or marketing. It also shows that the company is
sustainable in the industry. So IKEA can be one of a good example company among
furniture retail industry in term of revenue and gross profit.
2. Received many awards
IKEA had received many awards since their establishment. The awards shows that IKEA is
successful in the industry and it existing is being appreciate by many organizations and
people, also it is the most preferable choices by customer. Some of the award that had being
received by IKEA is:
12

IKEA was named one of the 100 Best Companies for Working Mothers in 2004 and

2005 by Working Mothers magazine.

It ranked 80 in Fortune's 200 Best Companies to Work For in 2006 and in October

2008
IKEA Canada LP was named one of "Canada's Top 100 Employers" by Mediacorp

Canada Inc.
IKEA was featured in Maclean's newsmagazine.
IKEA had received an honorary award from the Swedish Design Awards in 2014 for
the flat-pack shelters are a collaborative labour of love between the IKEA
Foundation and the Refugee Housing Unit (RHU) and were designed to offer a
durable, comfortable and energy-capable alternative to traditional canvas tents that
commonly house refugees during times of crisis.
3. Have very good Corporate Social Responsibility (CSR)

IKEA believe that it is possible to make traditional business objectives and social and
environmental responsibility work together for the benefit of the many people. IKEA wants to
take a leading role towards a low carbon society, and significantly reduce the carbon
footprint from all aspects of its operation, while also helping to reduce coz emission in
society.
IKEA CSR activity involves in three main areas Children, better living and environment
project. The IKEA foundation extended its support for UNICEFs water and sanitation
program in some countries like India, in totally, the IKEA foundation projects together with
NICEF, save the children around the world (Pattairman, K., 2013). IKEA wants its products to
have the minimum impact on the environment and for these products to be manufactured in
a socially responsible way such as lowering price but not at any price. In addition, IKEA
stores and national retailers are also active in many social responsibility projects to
maximize society well-being and produce product which has minimum impact on the
environments (K. Kling and I. Goteman, 2003).
In the wake of the 2004 Boxing Day Tsunami, IKEA Australia agreed to match dollar for
dollar co-workers donations and donated all sales of the IKEA Blue Bag to the cause (SA, I.,
2012). After the Pakistan earthquake of 2006, IKEA gave 500,000 blankets to the relief effort
in the region. IKEA also had provided furniture for over 100 bridge schools in Liberia. On
top of that, In the 2008 Sichuan earthquake in China, IKEA Beijing sold an alligator toy for 40
Yuan (US$5.83) with all income going to the children in the earthquake struck area (K. Kling
and I. Goteman, 2003). In addition, IKEA also supports American Forests to restore forests
and reduce pollution.
13

IKEA through IKEA Social Initiative contribute 1 to UNICEF and Save the Children from
each soft toy sold during the holiday seasons, raising a total of 16.7 million so far (SA, I.,
2012). IKEA Social Initiative provided soft toys to children in cyclone affected Myanmar.
More recently, IKEA has stopped providing plastic bags to customers, but offers reusable
bags for sale. The IKEA restaurants also only offer reusable plates, knives, forks, spoons,
etc. Toilets in some IKEA restrooms have been outfitted with dual-function flushers. IKEA has
recycling bins for compact fluorescent lamps (CFLs), energy saving bulbs, and batteries. In
2001 IKEA was one of the first companies to operate its own cross-border freight trains
through several countries in Europe (Pattairman, K., 2013).
In 2008, IKEA also announced that it had created IKEA Green Tech, a 50 million venture
capital fund (K. Kling and I. Goteman, 2003). Located in Lund (a college town in Sweden), it
will invest in 8-10 companies in the coming five years with focus on solar panels, alternative
light sources, product materials, energy efficiency, and water saving and purification. The
aim is to commercialise green technologies for sale in IKEA stores within 3-4 years.
It is good that IKEA contribute more for corporate social responsibility. In Islam also
encourage us to do helping others and doing good charity. No doubt Allah willl repay the
favour and attitude about our generous as mentioned in Surah Al-Baqarah clearly, a charity
bout of Believers is like a tree branch, and from every branch of the hand out of 100 profit
(Azlan, A., 2014).

4. They really walk the talk of their corporate value.

We can see that IKEA really walk the talk of their corporate value. For example, one of their
corporate values is cost-consciousness. Low price is impossible without low costs, so they
proudly achieve good results with small resources. They work hard as a team to offer quality
products at affordable prices for their customers. They do it by optimising their entire value
chain. We build long-term supplier relationships, invest in new technologies, create efficient
production techniques and produce large volumes. Their vision goes beyond home
furnishings they want to create a better everyday for all people touched by their business.

Accept and delegate responsibility is also their corporate value. They do promote co-workers
with potential and stimulate them to surpass their expectations (Pattairman, K., 2013).
14

Sure, people make mistakes. But IKEA believe that their worker will learn from them.
Next is togetherness and enthusiasm Together, they will have the power to solve
seemingly unsolvable problems. And they do it all the time.
5. IKEA concern about their workers.
IKEA tries to give employees a family friendly feeling. There is no to the outside noticeable
hierarchy among workers. There are also gender equality at IKEA Group. They want a
workplace where 50% of leadership positions are held by women and 50% by men. The
IKEA Women Open Network (IWON) aims to support gender balance in leadership positions
as well as an inclusive culture that reflects the contributions of women and men alike. Today,
more than half of their co-workers are women, as are 47% of our 19,000 managers and 25%
of Group Management they have come far (Timetoast, 2013).
At the IKEA Haid store in Austria, two women share the store manager position (Pattairman,
K., 2013). Its an arrangement everyone is happy with. The store has two talented and
dedicated leaders and those leaders havent had to choose between motherhood and a
career. IKEA Austria has put a lot of effort into creating gender equality, and provides plenty
of support for women who want to continue their careers after maternity leave.
IKEA US announced a new hourly wage structure that focuses on the needs of the coworker instead of market standards. The new wages are based on the local living cost in
each market and when the change goes into effect in January 2015, half of IKEA US coworkers will get a 17% wage increase on average (Timetoast, 2013). While IKEA Japans
total compensation and benefits package for their part-time co-workers was already better
than the market standard, salary ranges were adjusted to create equal conditions for all coworkers. A growing number of part-timers in Japan and most of them women are being paid
less per hour simply because they dont work fulltime. At IKEA, they want to be an inclusive
employer that offers the same salary range, benefits and possibilities for the same work
done.

It is shows that IKEA really care and concern their relationship with workers. In Al-Quran also
said that it is important for us to have good relationship with others. It proved by Surah AlHujurat verse 10-12 and Surah An-Nisa verse 86.

15

Conclusion
IKEA is a well-known global brand with hundreds of stores across the world. In order to
improve performance, it must assess its external and competitive environment. This will
reveal the key opportunities it can take advantage of and the threats it must deal with. IKEA
responds to both internal and external issues in a proactive and dynamic manner by using its
strengths and reducing its weaknesses. Through this, IKEA is able to generate the strong
growth it needs to retain a strong identity in the market.

IKEA's passion combines design, low prices, economical use of resources, and
responsibility for people and the environment. The company's products, processes and
systems all demonstrate its environmental stance. For example, clever use of packaging and
design means more items can fit into a crate, which means fewer delivery journeys. This in
turn reduces IKEAs carbon footprint.
There are so many reasons that make IKEA so popular. For example, cooperating with the
suppliers from all over the world, high-efficiently of logics, using life system to find what
customer need, and so on. Follow the concept, IKEA try their best to give the customers
what they promised: low price, well-design, creating a better everyday life for many people.

16

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from