Founded in 1943 in Älmhult, Sweden, IKEA is an internationally known furniture and home furnishings retailer. It has grown rapidly since its foundation and today it is the world's largest furniture retailer. The company is recognized for its Scandinavian style, with the majority of IKEA's furniture coming in a flat-pack form, ready to be assembled by the consumer. IKEA is one of the foremost names within the global ready-to-assemble (RTA) furniture market.
In fiscal year 2019, the company generated a global revenue exceeding 41 billion Euros. One of the key competitive advantages IKEA has is its extensive knowledge about the customers. The company understands the purchasing factors which influence customers to buy furniture and implements the best practices to induce that decision. IKEA offers low prices and a huge range of products, constantly introducing new product designs that look stylish in the eyes of customers. All the products are designed so they are easy to transport and assemble. Moreover, the company offers an extremely wide product range and positive shopping experience. All of these factors are aligned with what customers want and need and which results in higher sales. As of 2019, IKEA was the retailer of choice among Americans when shopping for furniture.
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In the following 4 chapters, you will quickly find the 30 most important statistics relating to "IKEA".