Volume : 10, Issue : 3, MAR 2024

IKEA: REVOLUTIONIZING THE FURNITURE RETAIL INDUSTRY

DALALIN MAYAMIN BINTI SHAFIE, MOHD HAZIM BIN ABDUL MANAF, ARZLIE BIN AMIR, MUHAMMAD HAFISZAN BIN MOHD AKHIR, SAMSUDIN WAHAB*

Abstract

IKEA is a well-known international retailer of furniture and home items that has become well-known throughout the world for its distinctive business strategy, reasonable prices, practical designs, and dedication to sustainability. IKEA was established in 1943 in Sweden and has since expanded to operate in many nations, ranking among the biggest furnishing merchants worldwide. The secret to the business's success is its ability to provide ready-to-assemble furniture and home accents, which saves consumers money by letting them transport and construct the goods themselves. IKEA has demonstrated its commitment to sustainability by using renewable resources, reducing waste, and supporting environmental issues. The company's marketing tactics, which are distinguished by creative advertising campaigns and captivating in-store encounters, add to its appeal. IKEA's commitment to satisfying its customers' changing requirements and preferences is seen in its continuous growth and product diversification. With its distinctive business model, creative marketing approaches, and dedication to sustainability, Swedish multinational furniture retailer IKEA has revolutionized the furniture retail sector. This case study explores their remarkable success story and looks at IKEA's main strategies, the challenges it has encountered, and their impact on the world market.

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