IKEA majorly concentrates on brick-and-mortar stores, whereas Wayfair has entirely trusted online furniture sellers. Until 2019, both companies have achieved much in their business strategy. Particularly, IKEA has 433 stores globally and 50 stores in the US, while Wayfair has attained a 39 percent share of the online furniture market, thus being a leader in it in the US. Wayfair has capitalized on its increased social media presence, which has grown quickly compared to IKEA’s. Wayfair has embraced the rapid dynamics of creative marketing alongside a flexible logistic infrastructure to meet the needs of its customers. On the other hand, IKEA has a mature logistic system that allows it to integrate customers on a one-on-one basis into its value chain. They can expand their store presence and open up more stores closer to the city geared towards online purchases.
What is the business strategy difference between IKEA and Wayfair?
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Academic.Tips. (2022) 'What is the business strategy difference between IKEA and Wayfair'. 6 September.
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Academic.Tips. (2022, September 6). What is the business strategy difference between IKEA and Wayfair? https://academic.tips/question/what-is-the-business-strategy-difference-between-ikea-and-wayfair/
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Academic.Tips. 2022. "What is the business strategy difference between IKEA and Wayfair?" September 6, 2022. https://academic.tips/question/what-is-the-business-strategy-difference-between-ikea-and-wayfair/.
1. Academic.Tips. "What is the business strategy difference between IKEA and Wayfair?" September 6, 2022. https://academic.tips/question/what-is-the-business-strategy-difference-between-ikea-and-wayfair/.
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Academic.Tips. "What is the business strategy difference between IKEA and Wayfair?" September 6, 2022. https://academic.tips/question/what-is-the-business-strategy-difference-between-ikea-and-wayfair/.
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"What is the business strategy difference between IKEA and Wayfair?" Academic.Tips, 6 Sept. 2022, academic.tips/question/what-is-the-business-strategy-difference-between-ikea-and-wayfair/.