Don’t we just love the idea of DIY? Imagine how exciting it would be if you get a chance to get DIY Furniture for your home! Well, IKEA beautifully tapped into the concept of DIY and self-assembly furniture and became everyone’s favourite furniture store worldwide. In fact, IKEA’s first store launch in Hyderabad, India, caused such a massive traffic jam in the city that where it would take you only 20 minutes to reach a place, that day you would need more than 4 hours! So, let’s dive in to find out what’s so special about this furniture store and how it created this magic!->
Origin of the brand
The first chapter of IKEA began in 1926, when the founder Ingvar Kamprad was born in a province named Småland in Sweden. He was clear about fostering his career in business. He got the first push when his father inspired him by offering to pay some money for securing good grades in school. Kamprad was just 17 years old when he used that money as capital to launch IKEA in 1943. The first-ever IKEA offered small household items such as wallets, pens, and picture frames. It would be another five years before the store ventured into the furniture market. So, he buckled down in the underlying phases of setting up IKEA and started selling furniture. Eventually, a chain of IKEA stores began spreading, and the IKEA products gained tremendous prevalence worldwide. Today, IKEA is worth $58.7 billion and has 456 stores globally.
How did Kamprad come up with the name IKEA?
Ingvar Kamprad, the late furniture retailer, is represented by the initials I K. The letters EA are associated with his childhood. E – Elmtaryd is the name of the farm where he was born and raised, and A – Agunnaryd is the name of his village. Put it all together, and you have IKEA.
An interesting fact about IKEA stores is that it is still connected to its roots. The exteriors of IKEA stores are adorned in the hues of the Swedish flag(yellow and blue), the in-store restaurant menu offers Swedish food, and the products of the company are labelled with Swedish names.
How did IKEA market itself?
IKEA’s global approach empowered it to reach the hearts of millions of people globally. The brand identity of IKEA falls among the most exemplary campaigns, logos, and businesses in modern times. Who would have guessed we’d get so fascinated about bringing home a few plain boxes and pulling out a hex key to build our own furniture? IKEA’s marketing plan is successful because it is unique, distinguished, and imaginative while sustaining a compelling value proposition.
IKEA does not just sell furniture; it sells an experience
Everything about IKEA, from their stores to their products, feels personalized to every customer. They organize each section in their stores in ways that are suggestive of actual rooms. As a result, each area exudes a personal connection to every buyer. Because the furniture is displayed in its natural setting, it provides customers with a sense of warmth and successfully gives them the real retail therapy.
The concept of DIY assembly:
Being able to put together furniture actually makes people feel more connected to them. Remember, when you put in your personal time and effort into building something for yourself, you tend to place it at a higher value and develop a sense of attachment towards it. The finished product makes you feel competent. It is a simple principle that a little labor leads to love. Not to mention how people love to share their final product or creations with friends, family, and of course, on social media, providing IKEA with free marketing.
IKEA targets the middle-class people:
The middle class segment is the largest segment of the society. The global middle class is also the segment that aims at enhancing their satisfaction while buying a product or service in the most cost-effective way possible. Furthermore, in today’s world, who doesn’t want a product that is available at a low cost with no compromise on the quality? IKEA underlines its global marketing strategy by highlighting its low prices and adequate quality standards, which allow them to acquire the global middle-class target.
