IKEA – THE FACTS
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THOUGHTS FOR THE DAY
Homeware giant IKEA is well on its way to taking over the world.
- As of November 2017, IKEA owns and operates 411 stores in 49 countries. In fiscal year 2016, €36.4 billion worth of goods were sold, a total that represented a 7.6 percent increase over 2015
- The first item of Ikea flatpack furniture was the LOVET, a leaf-shaped side table, which first appeared in the 1956 catalogue.
- Ikea’s first shop was set up in Almhult, southern Sweden in 1958, and was 6,700 square metres. The average Ikea is now about 32,000 square meters.
- Ikea airbrushes women out of Saudi catalogue 01 Oct 2012
- Ingvar Kamprad, the founder, first started selling matchboxes as a child, before selling fountain pens, cigarette lighters and nylon stockings. The company was incorporated in 1943.
- When it first entered the USA market, Ikea could not understand why its small flower vases were selling so well. It turned out they were being used as big tumblers.
- 85 per cent of all of its products are common to all of its stores around the world.
- Last year it distributed 2.5 billion little wooden dowels, which hold its furniture together, and 50 million Allen keys
- It has none in South America or Africa but is planning one in Cairo, Egypt, soon.
- Kamprad first opened a restaurant in an Ikea shop in 1960, after he realised too many people visited the shop, but left without buying because they were hungry. Ikea estimates it has sold 11.6 billion Swedish meatballs and 1.2 billion hotdogs to its British customers since it opened in the UK in 1987.
- Ikea made €1.2 billion turnover from selling food at its restaurants in 2011.
- Ikea sources 20 per cent of its raw materials from China. It was one of the first companies to source from China, when Kamprad bought 20km of cut-price denim, which was used for sofa upholstery.
- The first Ikea store in the UK was opened in 1987 in Warrington.
- Ikea furniture and products uses between 800 to 1,000 different types of screw
- Last year 60 million hinges were distributed by Ikea
- With 332 giant stores in 38 countries and plans for rapid expansion, the 70-year-old Swedish brand is just that much cheaper, better-looking, and more efficient than most competitors — even if its products will fall apart if they take much abuse.
- IKEA sells one BILLY bookshelf every 10 seconds – its most popular product.
- IKEA products use approximately 1% of the entire world’s commercial supply of wood.
- IKEA’s only particle board supplier, Sweden’s Hultsfred, processes approximately 30 million pounds of pine saw dust every day.
- Every year IKEA delivers 800 million cubic feet of product, enough to fill more than 9,000 Olympic-size swimming pools.
- 690 million customers visited IKEA in 2012, which is more than double the population of the United States.
- An estimated one in five children in Britain were conceived on an IKEA mattress, with 12.8 million sold in the country since 1987.
- One-tenth of all furniture purchased in Britain comes from IKEA.
- IKEA’s $37.8 billion in annual revenue is larger than the GDP of Serbia. The rapidly expanding company hopes to double sales by 2020.
- IKEA has lowered its prices by an average of 2 to 3 percent every year since 2000 thanks to increased efficiency.
- The world’s largest IKEA, in Stockholm, covers 594,000 square feet – bigger than 10 American football fields. In December 2014, it was announced that the world’s largest IKEA store at 59,000 m2 (635,070.7 sq ft)opened near the KTX Gwangmyeong Station, located at the heart of South Korea’s Seoul Capital Area. It opened the world’s fourth largest store (and the largest standalone store in the world) in Goyang, Gyeonggi on October 2017 at 52,199 square meters. IKEA plans to open two more stores of such scale in the Seoul Capital Area, along with a store in Daejeon and Busan by 2020.
- IKEA is building its own town near London. It will contain shops, schools, theaters, a hotel, and flat-pack housing for 6,000 people.
- There’s actually a logic to IKEA’s crazy product names, which were used in place of numbers because founder Ingvar Kamprad is dyslexic.
- The estimated net worth of IKEA founder Ingvar Kamprad ranges from $3.3 billion to $53.1 billion depending on whether IKEA is counted as owned by him or his foundation. Kamprad died on 27 January 2018.
- Some of the most widely circulated books on the planet are religious texts, young adult fiction, and a IKEA’s furniture catalog.
With 203 million copies distributed to design lovers around the globe, Ikea’s yearly catalogue sits beside the Bible, the Quran, and the “Harry Potter” series as one of the most popular books in the world. 203m copies of the famous IKEA catalogue are printed in 35 different languages, making it the largest publication in the world. More copies are printed than the Bible of Quran. (there are an estimated 100 million bibles either sold or given out each year).
The main reason Ikea is able to distribute so many copies is that the company knows its customer.
Specifically, Ikea conducts research in each of the 72 regions where the book is distributed. As Quartz reports, the company collects information on housing sizes, cultural attitudes, and personal habits to figure out which items and designs are likely to sell best in which locations.
In the 2017 catalog, for instance, Chinese kitchens appeared much smaller than US kitchens, reflecting China’s ongoing battle with affordable housing.
Sometimes the personalization has caused controversy for Ikea.
In the 2012 catalog, men and women appeared in roughly an equal number of cases in US and UK issues. But in Saudi Arabia and ultra-Orthodox regions of Israel, Ikea edited its photos so they only featured men, or nobody at all.
In that way, the popularity of Ikea’s catalog reflects the company’s focus on international sales, for better or worse. Critics of the retouching alleged Ikea was betraying its core values of inclusiveness by catering to regressive gender ideals.
As a marketing tactic, however, Ikea knows it is maximizing its already broad appeal. Well-designed furniture, sold at a reasonable price, will be a hit with hundreds of millions around the world; the only variable is whether the message surrounding the products will resonate. The wide readership of its 374-page book,
The first Ikea Catalogue was published in 1951.
INSPIRATIONAL QUOTE FOR THE DAY
You’ve got to get up every morning with determination if you’re going to go to bed with satisfaction. ~George Lorimer
Happiness is…a leisurely afternoon walk around your local Ikea store
GRANDAD’S ONE LINER JOKE OF THE DAY
I wouldn’t want to fly Virgin. Who’d want to fly an airline that doesn’t go all the way?
Love is…a song in your heart
TRACK OF THE DAY
Apache – The Shadows
Highest Chart Position: No.1 25th August 1960