This paper compares and contrasts your company IKEA to Walmart and Target. All three of these companies sell furniture at low prices and are considered mega-stores. IKEA has been in existence longer than Walmart (since 1926) and specializes solely in furniture (whereas Walmart is a super-store that sells virtually everything). Target is the oldest company, getting its start in 1902—but like Walmart it sells much more than just furniture. All three stores are giant retailers and each offers something special to the public. This paper will show how IKEA’s best appeal to the public is when it comes to purchasing furniture for smalls spaces, such as rooms or offices, while Target and Walmart both have their own appeal to the public—namely, quality offerings and cheap prices respectively. This paper will also show how IKEA differentiates itself from its competitors and why this is important.
By distinguishing itself from its competitors by way of its approach to personnel and its ability to make and market furniture, IKEA has been able to carve out a substantial portion of the market for itself. However, its retail competitors have their own appeal to consumers and provide them with one-stop shopping outlets, cheap prices, and considerable options.
Personnel
When it comes to personnel—the public face of the company (the people who work the cash registers and stock the shelves and greet the customers—IKEA is in a stronger position that its two retail competitors, simply by the fact that it pays its workers at the register more than either Walmart or Target do (Glass Door, 2017). This is one of the factors that sets IKEA apart from its competitors: it incentivizes its workers, provides them benefits that create a culture of good will within the workplace, and establish a rapport that is then passed on to the consumer. At the other two retail giants, the worker is considered less highly and that same attitude is then reflected in the manner in which the consumer is viewed. IKEA’s personnel are committed because IKEA is clearly committed to them and that commitment starts with high wages.
Shopping
Walmart is located in 15 countries around the world and serves more than 200 million consumers per day on average. It offers many different types of products (not just furniture) and has an excellent return policy...
References
Glass Door. (2017). Retrieved from
http://www.glassdoor.com/Salary/IKEA-Salaries-E3957.htm
Loeb, W. (2012). IKEA is a world-wide wonder. Retrieved from
https://www.forbes.com/sites/walterloeb/2012/12/05/ikea-is-a-world-wide-wonder/#426ce3d127b9
Karbastera, K. (2016). Walmart and IKEA. Retrieved from
http://216108.edicypages.com/blog/walmart-and-ikea-which-is-better
Pearson, B. (2015). Re-assembly required: What Target, Walmart could learn from
IKEA’s expansion. Forbes. Retrieved from https://www.forbes.com/sites/bryanpearson/2015/03/27/re-assembly-required-what-target-walmart-could-learn-from-ikeas-expansion/#7841339a4693
http://www.icmrindia.org/casestudies/catalogue/Business%20Strategy/BSTR428.htm
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