12 Unique Things to Know about IKEA

IKEA is one of the most famous home furnishing companies in the world. On August 9 – 2018, IKEA opened its first-ever showroom in India. Here are 12 unique things to know about IKEA.

IKEA is a Swedish company founded in 1943. The name ‘IKEA’ is based on the name of the founder ‘Ingvar Kamprad’ and the location where he was living ‘ELMTARYD AGUNNARYD’.

The business was started by selling matchbox.

The speciality of this company is the designs of the furniture. Besides, the company provides ready to assemble furniture.

One of the most important things about IKEA is providing low cost, affordable and quality furniture for homes and offices.

By the end of November 2017, IKEA has built more than 415 stores in 49 countries.

IKEA entered in India after the acquisition of Flipkart by Walmart. The company has invested more than 1000 Cr so far. The first store of IKEA was opened in August 2018 in Hyderabad. Within 3 months, the home furnishing giant successfully opened stores in Mumbai and Gurugram.

12 Unique Things to Know About IKEA:

1. Products:

IKEA has more than 12,000 products.

Almost, every product is portable so that consumers can easily take the product to the home.

2. Competition:

To compete with other companies like Pepperfry and Urban Ladder, the company is selling online furniture in India.

3. Manufacturing:

IKEA doesn’t have any kind of manufacturing unit. The company just designs the furniture and takes patent of every design.

They buy from the manufacturer in bulk units. That decreases the cost of a product.

4. NOT only Furniture:

It does not only provide furniture for homes and offices but also provides kitchen appliances and home accessories.

5. IKEA is the world’s largest furniture retailer since 2008.

6. COST LEADERSHIP:

One of the most important things about IKEA is working on cost leadership. That means, the company is taking very less margin while selling any product and also provides value for money products.

7. IKEA has been effecting so much local furniture business because of the low cost and high-quality product.

8. Logistic Cost:

It works on ready to assemble furniture. That significantly decreases the logistic cost.

That’s why they can operate the business by taking a low profit margin.

9. Non Profit Organization:

According to Wikipedia, the company’s revenue is nearly $40 billion. Surprisingly, IKEA is a non-profit furniture designing and manufacturing company.

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10. Consumers are allowed take nap at the showroom.

11. Technology:

In every store of IKEA, the company provides lots of computers that can help to customise the furniture directly. And, IKEA will deliver to the consumer’s home.

Also, the very helpful and trained staff is there. The staff helps us to design and customize the furniture.

12. Guarantee:

The specialty about IKEA is guarantee. IKEA gives guarantee up to 25 years.

Watch the detailed video on IKEA:

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