Who Are Ikea’s Main Competitors?
Among Ikea’s main competitors in the United States are the furniture stores Ashley Furniture and American Furniture Warehouse. Another large competitor is Walmart, which does not exclusively sell home furnishings. Target also sells stylish home furnishings that are similar in design and quality to Ikea. In the categories of appliances and wood items, Ikea competes with Home Depot and Lowe’s for consumer dollars.
Some Ikea competitors welcome the opening of Ikea stores. Ikea attracts many furniture buyers, but some people like to shop among several stores to compare furnishings and prices. The Swedish company bases its success on its core values, which include quality, customer loyalty, and heritage. For example, Ikea’s in-store restaurant serves customers authentic Swedish food such as Swedish meatballs and pancakes, which are Swedish favorites. Ikea caters to local tastes by adjusting some of its home furnishings to match local market preferences.
Ikea is the world’s largest furniture retailer with locations in 41 countries. Germany has the most Ikea stores, making it the largest market for Ikea. The second largest market is the United States, which has slightly fewer Ikea stores than Germany. The three largest Ikea stores, however, are located in South Korea, Sweden, and China. The South Korea location is the world’s largest, at 640,000 square feet.