Menu

IKEA UK Marketing Analysis

0 Comment

As the paper stresses the UK furniture and furnishing industry is substantial, thus makes a significant contribution to the UK economy, including the GDP and employment of UK citizens. There are approximately 8,116 companies in the UK furniture and furnishing industry, including retailers, wholesalers, repair, leasing and specialist designers. The furniture and furnishing industry in the UK is segmented into three major sub-sectors based on the different products and markets therein as well as the characteristics of the buyers, including domestic, office and contract sectors. Companies in the UK furniture and furnishing industry often serve more than one market.
As the report declares the UK furniture and furnishing industry comprises many micro and small to medium businesses that specialize in furniture, furnishings, retail, repair and design. However, the industry is not well recognized at the political level and does not receive the government support it deserves despite its contribution to the UK economy. Nevertheless, this industry has experienced growth in imports while exports registered a slight fall in the year 2013. China, Germany and Italy are key players and drivers of the import growth while the Republic of Ireland, Germany and France are the main destinations for exports from this industry in the UK. IKEA, UK uses demographic bases including age, sex, family, job type, socioeconomic status and life cycle to segment its markets.