The Marketing Position and Strategy of IKEA in China under New Retail Background

Research Article
Open access

The Marketing Position and Strategy of IKEA in China under New Retail Background

Jingwen Tan 1*
  • 1 University of Toronto Scarborough    
  • *corresponding author jingwen.tan@mail.utoronto.ca
Published on 13 September 2023 | https://doi.org/10.54254/2754-1169/9/20230390
AEMPS Vol.9
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-915371-45-4
ISBN (Online): 978-1-915371-46-1

Abstract

With the development of economic globalization and technological informatization, the home furnishing industry is facing the transformation from traditional retail to a new retail model. Based on literature analysis and case studies, this paper discusses the concept of new retail and its difference from the traditional retail model and analyzes the challenges faced by IKEA in the Chinese market, such as slowing sales and traffic growth, late e-commerce layout, and fierce competition. Using the STP model and the 4P model, we analyze IKEA's marketing strategy in the Chinese market and suggest improvements to the product, promotion, and publicity strategies. It will promote IKEA's development and innovation, and bring thoughts and strategic value to the Chinese home furnishing industry in the new retail era. Through the analysis of IKEA's marketing strategy, it can be determined that in the new era, home marketing should start from product diversification and networking to win consumers with more appropriate prices and convenient channels.

Keywords:

new retail model, IKEA, China market, marketing strategy, STP model, 4P model

Tan,J. (2023). The Marketing Position and Strategy of IKEA in China under New Retail Background. Advances in Economics, Management and Political Sciences,9,258-263.
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References

[1]. Pu, Zhang. (2021). The emergence, concept, and construction of new retailing - A perspective on the development of the retail revolution. Journal of Harbin University of Commerce (Social Science Edition) (05).

[2]. Wen, Zhang . Research on the upgrade path of traditional retail enterprises' transformation to new retail model. Business Economics Research, 2019(07): 44- 48

[3]. Ying, Chen . Similarities and differences between O2O model and new retail and its expansion trend. Jiangsu Business Theory, 2021(02): 23-25.

[4]. Shenghong, Ye. (2004). On the construction of STP marketing strategy model. Journal of Guangdong Business School (03), 39-41+50.

[5]. Weiwei, Zhang. (2021). Research on marketing strategy of IKEA China in the context of new retailing (Master's thesis, Shandong University),38-42. https://kns.cnki.net/KCMS/detail/detail.aspx?dbname=CMFD202201&filename=1021042947.nh

[6]. Nannan, Shen. (2020). Analysis of IKEA's differentiation strategy for competition in China. East West North South (03), 100.

[7]. Di, Wang. (2014). Research on corporate sales tactics based on 4P marketing theory (Master's thesis, North China Electric Power University). https://kns.cnki.net/KCMS/detail/detail.aspx?dbname=CMFD201501&filename=1014364921.nh

[8]. Chong, Yu. (2020). Research on the current situation and countermeasures of IKEA's marketing strategy. Modern Marketing (Business Edition) (09), 156-157. doi:10.19921/j.cnki.1009-2994.2020.09.076.

[9]. Qiurui, Li. (2021). Research on 4P marketing strategy of IKEA under the influence of new crown epidemic. Modern Business (32), 32-33. doi:10.14097/j.cnki.5392/2021.32.010.

[10]. Kun, Ren. (2020). A comparative study of IKEA's marketing strategies in China. Hebei Enterprise (01), 95-96. doi:10.19885/j.cnki.hbqy.2020.01.041.

Cite this article

Tan,J. (2023). The Marketing Position and Strategy of IKEA in China under New Retail Background. Advances in Economics, Management and Political Sciences,9,258-263.

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About volume

Volume title: Proceedings of the 2nd International Conference on Business and Policy Studies

ISBN：978-1-915371-45-4(Print) / 978-1-915371-46-1(Online)
Editor：Canh Thien Dang, Javier Cifuentes-Faura
Conference website: https://2023.confbps.org/
Conference date: 26 February 2023
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.9
ISSN：2754-1169(Print) / 2754-1177(Online)

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References

[1]. Pu, Zhang. (2021). The emergence, concept, and construction of new retailing - A perspective on the development of the retail revolution. Journal of Harbin University of Commerce (Social Science Edition) (05).

[2]. Wen, Zhang . Research on the upgrade path of traditional retail enterprises' transformation to new retail model. Business Economics Research, 2019(07): 44- 48

[3]. Ying, Chen . Similarities and differences between O2O model and new retail and its expansion trend. Jiangsu Business Theory, 2021(02): 23-25.

[4]. Shenghong, Ye. (2004). On the construction of STP marketing strategy model. Journal of Guangdong Business School (03), 39-41+50.

[5]. Weiwei, Zhang. (2021). Research on marketing strategy of IKEA China in the context of new retailing (Master's thesis, Shandong University),38-42. https://kns.cnki.net/KCMS/detail/detail.aspx?dbname=CMFD202201&filename=1021042947.nh

[6]. Nannan, Shen. (2020). Analysis of IKEA's differentiation strategy for competition in China. East West North South (03), 100.

[7]. Di, Wang. (2014). Research on corporate sales tactics based on 4P marketing theory (Master's thesis, North China Electric Power University). https://kns.cnki.net/KCMS/detail/detail.aspx?dbname=CMFD201501&filename=1014364921.nh

[8]. Chong, Yu. (2020). Research on the current situation and countermeasures of IKEA's marketing strategy. Modern Marketing (Business Edition) (09), 156-157. doi:10.19921/j.cnki.1009-2994.2020.09.076.

[9]. Qiurui, Li. (2021). Research on 4P marketing strategy of IKEA under the influence of new crown epidemic. Modern Business (32), 32-33. doi:10.14097/j.cnki.5392/2021.32.010.

[10]. Kun, Ren. (2020). A comparative study of IKEA's marketing strategies in China. Hebei Enterprise (01), 95-96. doi:10.19885/j.cnki.hbqy.2020.01.041.

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