The Price War Begins: IKEA's Strategy to DESTROY their competition
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- Опубликовано: 1 окт 2024
- Welcome back to our channel! In today's video, I show you every section of IKEA and every popular item that has a lower price drop. We're diving into a retail showdown that's shaking up the industry. IKEA, the global furniture giant, has declared an all-out war on two formidable foes: inflation and every furniture store. As prices keep going up and consumer wallets tighten, IKEA is pulling out all the stops to maintain its reputation for affordability and style. But what does this mean for the average shopper?
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IKEA is still expensive! Their “reduced pricing” has returned their prices to pre-pandemic pricing. Don’t be fooled!
Exactly
Exactly. I last shopped Ikea in 2019 and was looking for a bed, dresser, and dining table for my son’s student apartment and the prices are 25-35% higher than 2019 levels. Things like the Malm and Idanas collection especially.
I remember that. They had a press release saying prices will be slightly higher. They said it themselves!
what? did you even watch the whole video?
@@lisalasers on many small ticket items their prices are lower than a year ago, but still a little more than pre-pandemic. Prices for big ticket items haven’t come down yet. We were in IKEA 2 days ago. To furnish a small studio with a Malm or Hemnes full size bed (with under bed drawers), dresser or chest, 1 side table, Kallax or Billy bookshelf, small 2 seat dining table, computer desk and a few knick knacks will still cost you $3500-4000 without taxes or task rabbit. This is without a mattress or other furnishings. We did the same for just under $2500 in 2018-19.
Ikea is in a very good position right now. they know that their key advantage is that they are much better at moving product than anybody else. their logistics machine is the key and they cant use that Ace if the market is to slow.
Shipping costs from IKEA... ARE MORE THAN THE ITEMS THEY SHIP
They think lowering the prices on 99% of thing we don’t want will make us spend? Just do free shipping bro
IKEA one place I go to, not order online.
Well, IKEA's quality is soooooooo low. It is disposable furniture.
agreed. plenty products still have absurd pricing which appears to companies maximizing what people can pay for but it only exposes those who are impatient or poor with handling money. Ikea can't keep up with this tactic anymore because inventory or warehouse will cost them more unlike smaller products like electronics.
Eventually people won't pay for some of these crazy prices like $11 coffee
i'm not moving until next year, but now i know where i'm shopping for new furniture. inflation robbed me of so much money, there's just not enough of it to go around. unfortunately, food and essentials are priority so either i am able to buy an affordable mattress or I go air bed. Same with the other stuff. Either I find a good table for affordable price or I go portable table lmao. I have a feeling that a lot of people are forced to spend like this and if only rich people are buying furniture at overblown prices, then those are the only brands moving stuff off their shelves. ikea doesn't sell to that crowd, so they will feel the burn. this is a very smart move to meet their target consumers halfway. Even if it's not storewide discounts and just select items, at least part of the store is affordable to the chunk of the population hit hardest by inflation.
Just buy secondhand, thrift or facebook for furniture. Screw these price gouging corporations.
I furnished my home with nice stuff from face book market place. Got a great condition kivik love seat sectional chase for $80 and a new beautyrest bed in the bag. For $150.
The price of lumbar is atrocious, this started in Covid but they have kept it going, this has a knock on effect.
Actually I think Ikea is price dropping to compete with Temu/Shein etc
Hi! It's possible but shipping costs definitely work against Temu here.
@@TheFrenchGlow Ikea shipping is expensive too, so customers choose between longer ship times, or making the trek to ikea, and as most of these more frivolous items are whims rather than needs, a lot of people are willing to wait for the cute cheap bowl from China vs drive out to Ikea for a less cute and slightly more expensive bowl. I think that's why they're not slashing prices on the quality furniture items as much because they have less competition there
Actually, Temu has furniture in the same price range as Ikea, because they have rolled out "Local Warehouse" pricing, which I'm going to assume they now have (or work with) stateside warehouses from which they can offer things like furniture. Haven't tried Temu yet for furniture; it sounds tempting though.
Don’t think you’re getting a bargain. These “discounted” prices reflect some resent increases. You will never see them posting when the prices went up. I saw some items gradually increase in value several times recently.
Bad example are: McDonald's. Fast food has a lot of wage pressures these days.. it's not just about cost of goods sold. But good on Ikea for lowering prices. I hope they get rewarded with increased revenues and total profit.
Dude fix your microphone
Sound is not good....
People aren’t moving, they have a lot of inventory, when home prices drop and people are moving again, prices will go up
Ikea has always been that way.
Share you secrets!?!
IKEAS quality has fallen through the floor.
They need to start shipping their products. It’s all flatpack? There’s no reason I should have to drive 6 hours round trip to an IKEA.
I wish they did but based on Ikea's previous messaging to us, they don't want to deal with local shipping and returns.
Thanks for the information very helpful
So it’s just a massive coincidence that everything has gone up everywhere?
No coincidence but after 3-4 years, some furniture prices are now artificially high
Used to work for the company!
You recorded everything on sale in ikea! Now I know what I need to buy rofl
Thank you!
They can drop all they want, most of the furniture is crap, falls apart after a year
I still have ikea furniture for 10 years +. Some is low quality but still better value than most brands
There are no Ikea's near me. I wish they offered all of their items online to us that will never have a store near them.
I swear Ikea does it on purpose to not ship some of their bigger or most essential items.
They are in a period where they are forced to lower prices because of deep competition with Amazon including beds, dressers, closets etc. There is a bit of competition with Wayfair but people buying on Amazon might actually shut IKEA down due to IKEA’s crazy rent and expenses and returns. In case you haven’t noticed, Winners has downsized and only kept the items that make them money but that is soon to change because they are experiencing high theft right now in all their stores as it is easy to walk out with items. They need to change that if they expect to survive. It is tough being a business owner these days.
Ikea. The company is filled with morons. 3 desktops I had to order because it kept showing up Damaged by Fed Ex and Ikea refused to add proper protection. They lost a lot of money and I got a free desk. Never order anything from them again.
They are still overpriced… the price cut did not do anything for the consumer.
They are trying to make gold out of cheap furniture.
IKEA does tremendous volume - that’s how they can afford to lower prices.
True. Ikea has a number of advantages to lower prices more and more.
Produce more blahaj
Markup on furniture is typically 100%, they’re still making money, just not as much. As I see it, it makes more sense to maintain our economy vs. having these companies focus on $$$. If the economy collapses more of these companies will go under, now I don’t have any degrees, but I do have some common sense. Let’s look at the Big Picture! That’s just my opinion.
Bi polar dominance.
Thanks for the info! I hope these sales are still going on, I'm in need of a desk. I know where I'm going this weekend!
Yes! The deals have been getting better and lower since! I was just there and they lowered prices even further
There is a furniture war on. I’ve been looking at couches, all on big discount.
You have no idea what margins others have. IKEA has a unique pipeline and exclusive products. They are successful because of efficiencies. You’d need to know retailers all inclusive cost of items very similar to IKEA’s.
he talked about this in the video.
IKEA is the disposal furniture for people who can't afford regular furniture design at big box retailers!
Thanks
IKEA discontinued Hemnes.
Thanks.
That's not wood, that's MDF! 🤬
What do you think MDF is made of?
You talk a lot for someone who understands so little.
It's sounds like you're the one who understands very little.
You should enlighten the people in the comments instead of making useless comments without critique and reasoning.