# data[].attributes.body
1. Strengths:

Unique Retail Experience

· In IKEA, customers can go to their offline stores to experience their products in person, making it easy and convenient for them to choose products that suit them better.

Wide Product Range

· IKEA has a wide range of products, from small pots and pans to large beds, tables and chairs, to meet the price and aesthetic needs of customers.

2. Weaknesses:

Limitations of IKEA offline store

· IKEA‘ s own offline stores usually require a large area and usually built on the outskirts of the city, so they require customers to take public transportation or drive themselves there. This is very inconvenient for customers to go shopping.

Cultural difference

· Although IKEA is a global company, it is still mainly a European company, and there are still differences in other countries and local cultures.

3. Opportunities:

Impact of digitalization and e-commerce industry

· With the rapid development of digitalization and e-commerce, customers are increasingly inclined to shop on the internet, and IKEA has caught on to this trend by launching their own software that allows customers to place and order online, which is then delivered to their doorstep by IKEA.

Innovation and cooperation

· Nowadays, IKEA has not only launched its own restaurant in addition to its own original, but also continues to collaborate with other brands and launch co-branded products to attract customers.

4. Threats:

Changes in customer preferences and preferences

· With young people joining the market, the age of the customers became younger and IKEA's original products were too simple and monotonous to be liked by the young customers and would lose this age group of customers.

Intense Competition

· With the development of e-commerce, more and more companies have risen, such as Wayfair, Amazon, as well as China's Taobao and Pinduoduo, they are extremely powerful rivals for IKEA.

# data[].attributes.body
Strengths

Global presence: IKEA has 400 stores in more than 50 countries

Weaknesses

Long delivery times: IKEA logistic system can sometimes struggle with delays, especially in online orders, leading to customer dissatisfaction.

Opportunities

Emerging markets: Increase focus on Asia, Africa and Latin America presents growth potential

Threats

Competition: Rivals like Amazon challenge IKEA market dominance

# data[].attributes.body
Strengths:

1️⃣Strong Brand: Recognized worldwide for affordable, stylish, and functional furniture.

2️⃣Efficient Operations:Effective supply chain and flat-pack model reduce costs.

Weaknesses:

1️⃣DIY Assembly: Complex assembly process deters some customers.

2️⃣Perceived Quality: Low-cost furniture may be viewed as lower quality.

3️⃣In-store Dependency: Heavy reliance on physical stores limits online growth.

Opportunities:

1️⃣Emerging Markets: Growth potential in countries like India and China.

2️⃣Digital Expansion: Enhanced e-commerce and digital tools could drive growth.

3️⃣Sustainability: Growing demand for eco-friendly products offers a chance to lead in green initiatives.

Threats:

1️⃣Competition: Intense rivalry from both local and global retailers.

2️⃣Raw Material Costs: Fluctuations in material prices could affect margins.

# data[].attributes.body
1. Strengths

Well-known brand: IKEA is a famous furniture store around the world, which helps attract many customers.

2. Weaknesses

Assembly needed: Customers have to build IKEA furniture themselves, which some people find hard or annoying.

3. Opportunities

Online shopping: More people are shopping online, and IKEA can grow by selling more on the internet.

4. Threats

Material costs: The prices of materials like wood and steel can go up, which might increase costs for IKEA.

# data[].attributes.body
Strengths:

High brand value: In 2022, IKEA has a brand value of $17.43 billion. This displays the brand equity that IKEA holds as brand value estimates the brand equity that IKEA has.

Investment Portfolio: Outside of producing furniture, IKEA has a wide range of investments. From investing in smart homes, real estates to having a chain of hotels, this equates to 5% of their total annual sales.

Weakness:

Alienating a certain demographic: Since IKEA is known for selling affordable furniture, therefore some people might be turned off by their brand image as they might want to buy from more luxurious brands. So they lose on some revenue.

Failure to expand globally: Despite IKEA boasting 460 stores in 63 countries, however, for the "biggest furniture company", it is not enough.

Opportunities:

Embracing more sustainable practices: As IKEA faces controversy over their methods of procuring raw materials (illegal logging activities), if IKEA decides to use more eco-friendly materials, this will satisfy both customers and investors.

Threats:

Legal battles: From legal battles regarding to poor working conditions to environmental sanctions, IKEA has lost alot of revenue in the process.

# data[].attributes.body
Strengths

-wide variety of products to cater to customers’ needs

-globally recognised, has over 400 stores in over 50 countries

-famous for affordable prices

-high revenue (more than $47billion in 2023)

Weaknesses

-most products require assembly => inconvenience to customers

-limited customisation compared to other/ smaller size furniture shops

Opportunities

-develop more sustainable ways to produce

=> sustainable development

-trend of online sales are increasing, they should develop or focus more on online stores, using discounts online to further boost sales online

Threats

-Inflation in the economy

-customers’ demand for IKEA products may differ suddenly

# data[].attributes.body
Strengthes

1. Strong brand awareness and global influence.

2 Due to the efficient supply chain, affordable and well-designed products.

Weakness

1. Provide customers with limited customization options.

2 Relying on self-assembly may prevent some consumers.

Opportunity

1. Expand to emerging markets and urban centers.

2 The growth of e-commerce and sustainable product supply.

Threats

1. Fierce competition from online and physical retailers.

2 The cost of raw materials and transportation continues to rise.