IKEA Global
1. Mission statement Ikea's mission is to offer a wide range of home furnishing items of good design and function, excellent quality and durability, at prices so low that the majority of people can afford to buy them (IKEA 1994). The company targets the customer who is looking for value and is willing to do a little bit of work serving themselves, transporting the items home and assembling the furniture for a better price. The typical Ikea customer is young low to middle income family.
2. EXECUTIVE SUMMARY Swedish Company IKEA was the world ’ s largest furniture retailer since the early 1990s. It sold inexpensive furniture of Scandinavian design. The company operated in 55 countries with a workforce of 76,000. IKEA offered nearly 12,000 items to the home furnishings market worldwide. It sold a wide range of products including furniture, accessories, bathrooms and kitchens at 186 retail stores in 30 countries across Europe, North America, Southeast Asia, Middle East and Austral. IKEA is well known for its unique concept, low price, wide range of product and flat packing.
3. Background 1942 IKEA established 1947 started the furniture business 1958 1st shop opened in Sweden. As at 2007,it has 260 stores in 35 countries IKEA own their coffee shops, restaurants in the retail shops
4. Product Price: Low price low cost logistics large quantity purchasing flat packed method reduce transportation cost Product: Offer > 12,000 items Design: light and modern, many selections Multi functional
5. SWOT ANALYSIS Strengths IKEA have a strong internationally known brand attracting key demographic customer groups. The IKEA business model is unique in its construction and execution with little direct competition on a like for like basis. Success has been driven from the price architecture offering value to the customer in innovative but functional products. Despite the large shed operations IKEA operate there is a degree of specialist knowledge within key
2. EXECUTIVE SUMMARY Swedish Company IKEA was the world ’ s largest furniture retailer since the early 1990s. It sold inexpensive furniture of Scandinavian design. The company operated in 55 countries with a workforce of 76,000. IKEA offered nearly 12,000 items to the home furnishings market worldwide. It sold a wide range of products including furniture, accessories, bathrooms and kitchens at 186 retail stores in 30 countries across Europe, North America, Southeast Asia, Middle East and Austral. IKEA is well known for its unique concept, low price, wide range of product and flat packing.
3. Background 1942 IKEA established 1947 started the furniture business 1958 1st shop opened in Sweden. As at 2007,it has 260 stores in 35 countries IKEA own their coffee shops, restaurants in the retail shops
4. Product Price: Low price low cost logistics large quantity purchasing flat packed method reduce transportation cost Product: Offer > 12,000 items Design: light and modern, many selections Multi functional
5. SWOT ANALYSIS Strengths IKEA have a strong internationally known brand attracting key demographic customer groups. The IKEA business model is unique in its construction and execution with little direct competition on a like for like basis. Success has been driven from the price architecture offering value to the customer in innovative but functional products. Despite the large shed operations IKEA operate there is a degree of specialist knowledge within key