Consumer Analysis of IKEA

IKEA is a home appliance, ready-to-assemble furniture, decoration, and accessories-producing Swedish multinational conglomerate. Ingvar Kamprad founded the retail chain furniture company in 1943. The company has established a network of approximately 473 retail chain stores in various countries across the globe. Today, we’ll discuss the consumer analysis of IKEA customer analysis; the existing customer market, most valuable customers, their needs and preferences; segmentation of customers, buyer persona, customer reviews, and customer journey and lifecycle.

Consumer Analysis of IKEA

Let’s discuss the main elements of consumer analysis of IKEA customer analysis are as follows;

Existing Customers of IKEA

IKEA has a very large network of users and visitors in various countries across the globe. According to an estimate, the retail chain furniture brand has around 213.3 million monthly average visitors worldwide on its web platform. The company ranks at the 1st position in the home and gardening products category in the US market. The brand ranks at the 135th position in the furniture products category in the global market.

IKEA has a very large database of customers both online and offline; they visit the company’s retail chain stores in various countries across the world. The large customer database helps the company to strengthen its position in the market.

Most Valuable Customers of IKEA

IKEA has a worldwide network of users, visitors, and customers. The percentage of customers of IKEA in various countries is as follows;

• USA 16.76%
• Germany 9.17%
• UK 8.14%
• France 6.36%
• Canada 5.67%
• Others 53.9%

IKEA has a very large customer market and the most valuable customers of the retail chain furniture brand are in the US market. However, the US market has the highest percentage of market share comprising of approximately 16.76%. The other countries and markets have the limited market share relevant to the US; that’s why most valuable customers of IKEA are in the US market.

Customer Needs and Preferences of IKEA

The needs, demands, and preferences of IKEA’s customers are variable depending on the diversity and uniqueness of every individual customer. Usually, the needs and demands of IKEA’s customers are affordable and well-designed furniture, flat packaging, self-servicing, convenient furniture, kitchen, home appliances, and accessories. The retail chain furniture brand invests a significant amount of capital resources in conducting market research and comprehending the needs and demands of customers market. Familiarity with the needs and demands of the customer market would help the company develop the right product to meet their demands and requirements.

Segmentation of Customers of IKEA

IKEA targets various segments of the customer market demographic in its marketing campaigns. The percentage of customer market segments from various age groups are as follows;

• 18 to 24 years old: 14% customers
• 25 to 34 years old: 26% customers
• 35 to 44 years old: 19% customers
• 45 to 54 years old: 17% customers
• 55 to 64 years old: 14% customers

The largest segment of the customer market is 25 to 34 years old customers and they have the market share of approximately 26%.

Buyer Persona of IKEA

The target audience demographic details of IKEA in its marketing and advertisement campaigns are as follows;

• Age: 18 to 65 years old customers
• Gender: men and women
• Income: higher and financially well-off
• Social Status: higher and medium
• Interest: furniture, design, household appliances, accessories
• Education: higher and well aware of household

The target audience demographic details of IKEA allow you to create a buyer persona and customer avatar of the target customers. They’re both men and women from various age groups and they have a great interest in household design and accessories. However, they want to express themselves creatively by designing their houses using unique company furniture designs.

Customer Reviews and Feedback of IKEA

The customer reviews, feedback, and star rating analysis of IKEA on various online platforms are as follows;

• Trustpilot: 1.5stars rating out of 25318 reviews
• ConsumerAffairs: 1.4 stars rating out of 1987reviews
• Reviews.io: 1.5stars rating out of 1601 reviews
• Sitejabber: 2.5 stars rating out of 265reviews
• Product reviews: 1.7 stars rating out of 1736reviews

The customer reviews, stars rating, and feedback analysis of IKEA shows that the company has a mixture of both good and bad reviews. Happy and satisfied customers show are sharing positive reviews; and the dissatisfied customers are sharing reviews and their disgust with the company’s products.

Customer Journey and Lifecycle of IKEA

The customer journey and lifecycle of IKEA starts with running various types of marketing and advertisement for the promotion of its products. If the customers like the company’s products, they will visit the retail chain store and buy them. However, if the products meet their quality standards, they would do it repetitively.

Conclusion: IKEA Consumer Analysis | Customer Analysis of IKEA |IKEA Customer Analysis

After an in-depth study of the consumer analysis of IKEA; we have realized that IKEA is the world’s leading furniture and household appliances brand. If you are learning about the customer analysis of IKEA; then you should keep in mind the abovementioned existing customer market, most valuable customers, their needs and preferences; segmentation of customers, buyer persona, customer reviews, and customer journey and lifecycle.