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The bargaining power of suppliers is low//medium because there are so many suppliers who sell a lot of their raw materials at different locations and internationally. Therefore, businesses have to have good relationship with the suppliers inorder to get the best deal for them.

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High power, there are a lot of substitues,There will be better products and cheaper prices. For，instance

CB2.

Cost Plus World Market.

Pier 1.

Target.

Burrow.

Scandinavian Designs.

BluDot.

Room & Board.

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Medium. The force is strengthening by factors such as intense competition and wide choice of substitute products. Nevertheless, the threat of substitute products is weak beacause IKEA's products is low price and have good quality. On the other hand, buyer power is also controlled by IKEA growth strategy of opening its sotres which has almost 300 stores in the world.

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The ability of suppliers to negotiate a better price.  The concept of supplier bargaining power refers to the ability of suppliers to obtain a better price when existing enterprises purchase raw materials from suppliers.  The degree of concentration of suppliers that determines the price of inputs and the quality of unit value.

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The level of competitive rivalry in the home furnishing industry is moderately high.  The battle for market share is not as high as in several other industries but still IKEA has got a large number of competitors.   Apart from the home furnishing brands that compete directly with IKEA, the  super markets and brand stores also sell home furnishing products and pose a competitive threat to IKEA.

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Furniture is irreplaceable for human beings and furniture is a necessity on which they depend. The forms, types and designs of furniture are constantly changing, but the demand for furniture is increasing. It is important to understand that product innovation is not a substitute, but an improvement of the product. Replacing wooden furniture with artificial wood is not a substitute, but a development of the same product. Manufactured wood is a subtitle of natural wood, not furniture. There can be no close substitute for furniture in the short term, which minimises the threat of substitutes. The five forces analysis of the external environment shows that the overall business environment in the furniture industry is good, but the complexity of the business is increasing.

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There are many competitors, but IKEA is well known for its high quality and low price. Its products are of high quality. Secondly, its after-sales service is very good, attracting a large number of fixed consumers

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The bargaining power of suppliers is very low, as there are numerous factories around the world with the capabilities and resources to work with IKEA. At the same time, IKEA pursues the strategy of forming long-term strategic relationships with its suppliers.

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May be no
Reason: IKEA has branches in more than 49 countries, this brings popularity and loyal customers; Special operating mode, customers can experience the furniture's feeling like bed, and enjoy foods during purchasing; IKEA has a special supply chain with the suppliers, which means low cost , so the good's price will be lower as well; an variety of products can satisfy customers' requirements.

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The threat of substitutes of IKEA is really low. According to the IKEA Group Report,  IKEA has built a reliable brand image where the level of trust between the customers and the brand is high. Its affordable pricing strategy and customer service also moderate the threat from substitute products. Also, IKEA provides a large and wide range of products under one roof. Hardly one of the competitors offers such range of products.
Further more, there is no substitute for furniture. According to the definition of Threat of Substitutes, the threat will only exist when products in other industry can perform the same function of your industry. There is no any substitute can replace furniture until nowadays. The innovation of furniture is not a substitute but a development in the same product(industry).
Based on all these factors including the popularity of IKEA and its products, the threat from IKEA gets minimized.

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The threat of substitutes would be a “weak” force to IKEA.Because every home would need to have certain number of home furniture.As of now, there seems have no substitute to the “home furniture.
P
The overall business environment of furniture industry is good, but the complexity of business is increasing.
E

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Viewing from an international perspective,Walmart,Amazon,Wayfair,American wood mark and Tesco are some of the competitors in the future industry for Ikea.The presence of strong local and multinational brands has intensified the competition in the market which has reduced the profit margins.So, if they want to have more profits they need to continuous innovation.

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The bargaining power of customers is very high, because Ikea will give consumers a variety of choices, fully understand the market and consumer demand, and strive to provide consumers with the lowest price and the highest quality furniture. If customers are not satisfied, they do not have to buy Ikea products, but Ikea is to save costs and keep products at low prices, so they will listen to customers.