Uncovering IKEA's Marketing Strategy
Swedish furniture store IKEA is a well-known brand popular with people from practically all walks of life – from college students looking to furnish their temporary living quarters to homeowners who take home design seriously.
If you are wondering how IKEA was able to market themselves and win over the world, here are some of their marketing secrets.
They target the global middle-class segment
This segment is the biggest segment of society and consists of people who consider personal satisfaction when shopping. This segment also prioritises value for money, and IKEA offers exactly that.
They offer quality products
Customers keep coming back to IKEA because they are always satisfied with their products. Aside from the consistent quality, IKEA also makes sure that their furniture always looks good. Their minimalistic aesthetic is part of their charm and is part of what makes their pieces easily identifiable.
They have affordable prices
Their affordable prices are part of their marketing strategy. Affordability is so important to IKEA that they decide on the price of their furniture before actually constructing it. Aside from offering quality products at affordable prices, they also lower their prices by 2% to 3% every year.
Customers need to build their furniture themselves
The DIY assembly that IKEA offers may seem burdensome (if not downright frustrating) to some, but putting furniture together actually makes people feel more connected to them. Let’s not forget how people love to show off their finished creations on social media afterwards, providing IKEA with more free marketing.
They use the Bulla Bulla method
The Bulla Bulla method refers to displaying products in a way that makes them look affordable. One way that IKEA does this is by filling a bin to the brim with a particular product. This is very effective as it usually makes customers think that they are making a smart purchase.
Their displays are carefully thought out
The displays at IKEA are not accidental. They position each section in specific ways that mimic real rooms. This generally makes each area exude a familiarity that customers will find calming. Since the furniture is set up in their natural environment, it gives customers a sense of comfort and provides them with real retail therapy.
They offer good food in their stores
People don’t just go to IKEA for the furniture; they also go for cheap food. IKEA’s food is just as iconic as their furniture pieces (Swedish meatballs, anyone) and we all know that people are generally in a much better mood when their stomachs are full and satisfied.
They wait for their customers to ask for help
In many Asian countries, it isn’t surprising to for salespeople to approach customers looking around and asking if they can help in any way. This doesn’t happen in IKEA. Instead, their employees are instructed only to help out if a customer asks for it. This is a Scandinavian method – and it looks like it has been working for them.
They focus on their customers’ needs
IKEA develops products based on the needs of their customers. To understand these needs, they conduct various consumer researches to come up with the right marketing objectives that will reveal their customers’ preferences and help the company grow.
Every brand starts from scratch, and IKEA has proven that with hard work and passion, success is never too far off.
The article was written by Soon Koon.