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Transcript of Ikea
Ingvnar Kamprad, its founder 1953
The first showroom was built in the city of Almhult (Sweden) with the first self made furniture. General presentation Ikea's Job: Ikea in figures Company culture Furniture Food Flats/houses Ikea's core business is furniture for house. 2010 1999 1984 1958 333 131 000 198 Millions 626 Millions 9500 1 € 333 Stores in 41 countries all over the world 131 000 employees in the world 626 million people have already been to IKEA worldwide 198 million catalogs have already been printed in 29 languages and 61 editions. 9500 Items are sold by Ikea All furniture has a proper Swedish name like: POANG, ...
Ikea Family: A club for Ikea's fans and a fidelity card
The "Njut !" concept: Use, Create and Enjoy.
The food label 1 €: The price for a breakfast in a store
2,5 €: The price for French Fries & Hamburger Financial point of view Where? Growth? Financial Figures: IKEA News News Ikea excluded women from the Saudi Arabian version of the catalog and apologized for it. Innovating Products TV all-in-one, UPPLEVA is a completely new range : smart TV + sound system + furniture.
Let's watch the video bellow IKEA GENERAL OVERVIEW SWOT AND MARKET ANALYSIS SWOT Analysis Internal Analysis You can buy furniture for living room, bathroom, bedroom, kitchen and others.
Prices are ranged between approximately 1 € to 1500 €. Only in Sweden currently, you can buy an IKEA FLAT PACK: IKEA FOOD is not the least business of the firm: As a strategy, food allows Ikea to keep its customers in stores for a complete day.
Ikea has created a food label for its products, in order to sell them as Swedish specialties and complete its Swedish style. Already built, the house is created by Ikea's architects, and the price is around 86 500 € Total sales give a turnover for 2011 of 25,13 billion euros
Net income : 3 billion euros (in 2011)
Ikea is not a listed company
Ingvnar Kamprad is the richest man in Europe according to the Swiss newspaper Bilan with a fortune of 37,5 billion euros In 2011, Sales increased by 6.9% compared to 2010.
Profits increased from 2,7 billion € in 2010 to 3 billion € in 2011 : a rise in 10.9%. STRENGTHS:
- Lower prices than competitors
- High customer satisfaction
- Maintains control of pricing and design
- Packaging of products allowing efficient global shipping
- In-store food court allows customers to shop longer
- Strong brand name of IKEA WEAKNESSES:
- Quality of products is questionable
- Many items require assembling
- IKEA is a global company, so product standards may be difficult to maintain
- Low level of customer service
- Stores are far from city centers External analysis OPPORTUNITIES:
- Going green
- Customers living in cities where space is expensive
- Reducing costs
- Global expansion, especially in emerging markets THREATS:
- Competitive retail markets
- Economic slowdown
- Expansion in China market may suffer some setbacks "People and Planet Positive" strategy ACTUALLY:
Wind farms in 6 European countries
342 solar panels
Wood from natural tropical forests IN THE PLAN (by 2012):
To invest € 1, 5 million in solar and wind panels
To produce renewable, recyclable materials
To consume renewable energy
To halve its greenhouse gas Market share & competitors IKEA Market Segmentation
& Customers WHO SHOPS AT IKEA ?
IKEA's target market: people looking for an inexpensive way to decorate homes and businesses. Current Strategy of the company Typical IKEA customers:
young man from low or middle income family
young married couples, college students,
singles between 20 and 30
middle class families
first time homeowners
Ikea admits that prison labor was used in the 1980s. Try to find the differences ! Swedish Saudi Arabian General conclusion For those who want an internship at Ikea !!! THANK YOU !! Pricing strategy Current investments IN ASIA:
The group unveiled plans for 25 stores in India
IKEA plans to open 100 budget hotels IN REAL ESTATE:
The rise of the Ikea city in London: STRAND EAST
- 27 acres suburb
- A residential spaces = 1200 houses
- Office and commercial spaces = 25000m2
Build Student residences across Europe Price first, then design
IKEA has cut the prices of nearly 300 products since September 2012
Low price but excellent value at the same time
Smartly packaging KEA 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.
IKEA's passion combines design, low prices, economical use of resources, and responsibility for people and the environment.
IKEA believes that there is no compromise between doing good business and being a good business. In the UK: Ikea is the leader with 9.6% of market shares
Direct competitors are Argos, DFS and Habitat. In France: Ikea is in competition with many firms: Alinea, Conforama, Habitat, But, Fly.
Ikea, But and Conforama, hold 42,6% of the market.
However, Ikea is the leader with 18% of market shares in 2011. The first Ikea opened in Almhult with 6700 square meters of home furnishing ! The new customer club, IKEA FAMILY is launched. Today, IKEA FAMILY is in 16 countries and has 15 million members. The IKEA Group grew to 50 000 Co-workers and had 158 stores in 29 countries. IKEA has developed a Sustainability Direction for 2015, with key priorities and overall goals. Steve Howard was appointed to the IKEA Group management as Chief Sustainability Officer. Ikea has 131 000 employees, 333 stores and a turnover of 25,7 billion euros. Innovating services