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IKEA - Coggle Diagram
IKEA
Threat of Substitute Products or Services(high)
available of substitutes
rental furniture
second-hand furniture market
homemade furniture
other furniture brands
price and performance of substitutes
market needs and trends
IKEA's differentiators
product quality
brand image
product design
customer experience
Rivalry among Existing Competitors(high)
Brand Competitors
IKEA
unique design style
functionality
sustainability
self-assembly products
other brand competitors
Different from IKEA's brand image and product features
Self-positioning and consumer demand for market positioning
Competitors
Home Goods Retailers
Walmart
Bath & Beyond
Crate & Barrel
DIY Home Improvement Stores
The Home Depot
Lowe's
Furniture Brand
Pottery Barn
Ashley Furniture
Wayfair
Online Marketplaces
Etsy
Amazon
eBay
Price Competitors
IKEA
affordable pricing strategy
cost-effective products
other price competitors
cost reduction
cheaper product are available
more flexible sales channels
Threat of New Entrants(low)
Brand Building
resources
According to the 2019 Brand Evaluation Report, IKEA is one of the most valuable brands in the world, with a brand value of $21.531 billion.
time
Entry Barrier
lots of capital
storefront construction
logistics
inventory
customer expectations
service
Establishment and maintenance of supply chain networks
Buyer Power(low)
Switching Cost
Number and concentration of buyers
IKEA products have a large number of loyal customers worldwide. According to IKEA's sales data for fiscal year 2022, IKEA's retail sales worldwide exceeded 41.4 billion euros.
Alternatives to products and competitors
Product differentiation and quality requirements
Loyalty Program
brand recognition
customer loyalty
Supplier Power(low)
Supply Chain
Supply chain management and collaboration models
Product differentiation and alternative availability
suppliers
Number and concentration of suppliers
According to IKEA's annual report for fiscal year 2022, IKEA works with more than 1,800 suppliers, of which more than 70% of its products are supplied by the top 100 suppliers.
Market competition and supplier substitution