IKEA is celebrating its 10th anniversary in Thailand. IKEA has been inspiring and giving great ideas to organize and decorate every space to better meet every lifestyle and is ready for a new decade with five key strategies: Democratic Design, Even Lower Priced (ELP) products, Sustainability, Global Marketing-Locally Relevant, and Penetration of B2B Customers through IKEA For Business to create sustainable growth in Thailand. The company expects sales to grow 5% yearly.
Thailand was the third country to welcome IKEA in Southeast Asia after Singapore and Malaysia, with the country’s first store opening at Mega Bangna on November 3, 2011, as a franchise of Ikano Retail. Over the past 10 years, IKEA has received excellent feedback from Thai customers. Today, the average number of daily visitors at IKEA stores is 13,000 visitors/day on weekdays and 33,000 visitors/day on weekends, while the average number of daily visitors at IKEA’s website is 80,000, with over IKEA Family 800,000 members.
Mr. Tom Suter, Store Manager at IKEA Bang Yai, said, “IKEA’s vision of its business operations at every franchise and all stores worldwide share a common commitment ‘To create a better everyday life for the many people, including our customers, co-workers and suppliers. For IKEA Thailand, we apply Swedish inspirations and a way of operating with an understanding of the Thai lifestyle to better meet the needs of Thai consumers. At the same time, we take knowledge and international concepts to help elevate living at home, including helping B2B customers to start their business more conveniently. Over the next decade, IKEA Thailand will continue to expand our customer base, develop new services, and create a better shopping experience both in-store and online. We will also expand our brand awareness to a wider area and with our B2B customers, as well as remain the top-of-mind brand in terms of inspirations for home decorations providing quality furniture and home furnishing items at affordable prices while building sustainability and a better world for future generations.”
The five key strategies driving IKEA Thailand’s business are:
- Democratic Design. The working principle of IKEA global consists of five concepts: 1) Form for a beautiful and livable world; 2) Functionality for a comfortable and meaningful daily life; 3) Quality for durability and a more aesthetic design for use; 4) Sustainability, being responsible to society and the environment; 5) Affordable prices (low price) accessible to everyone.
- Even Lower Price: ELP. We are making continued investments in price. Every year, IKEA selects popular products and reduces their prices to make them more accessible to everyone with the principle, ‘The more you buy, the lower price we offer.’ In fiscal year 2022 (September 2021 – August 2022), IKEA Thailand invested more than 150 million baht in the category of even lower price products, enabling Thai customers to use good products at affordable prices. There are up to 600 items, including sofas, one of the most popular product categories among Thai customers.
- Sustainability is IKEA’s DNA. IKEA considers every process, from product design, material selection, services, and our store operations under the concept of ‘We do our part. You do your part!’ Over the past 10 years, IKEA Thailand saved 34 million baht in energy costs by installing solar cell panels and achieved a recycling rate of more than 70% of in-store waste.
- Global marketing-locally relevant. IKEA understands the needs of Thai customers and how they live at home through our Home Visits and from customer comments which allow us to adjust our marketing plan and services by combining Thai and Swedish styles together. This creates a sense of belonging and reaches more Thai customers. We appreciate our approach where Swedish simplicity meets the lifestyles of the Thai people (Swedish in name, Thai at heart).
- Expanding the B2B customer base through IKEA For Business. We provide complete solutions and interior planning assistance for businesses of all sizes, allowing customers to start their dream business easily and quickly within their planned budget.
Ms. Amataboon Satrasook, Deputy Store Manager at IKEA Bangna, said, “IKEA is preparing to organize special events and offer promotions to thank Thai customers as follows:
Promotions and activities between 1st – 10th November, 2021
- Special 10 baht, 100 baht and 1,000 baht products, such as home decorations, tealight holders, soft toys, rugs, foam mattress, etc.
- Free soft serve soya ice cream for kids (10,000 kids/store for 10 days).
- Free photoshoot at our photo booth! For IKEA Family members at IKEA Bangna and IKEA Bang Yai.
- Redeem a specially designed pin with a minimum purchase of 3,000 baht.
- Get a free meal voucher worth 500 baht when spending 5,000 baht/receipt for the first 10 customers/day.
- IKEA Family members who recommend friends that join IKEA Family will instantly receive a 100-baht discount coupon (with a minimum purchase of 500 baht), for both existing and new members.
Other promotions and special activities include:
- A 10-month 0% instalment promotion from 1st November 2021 – 31st December2021 with participating banks only.
- Special workshop with professionals for IKEA Family members on the topic of child safety at home from 6th November 2021 – 7th November 2021 at IKEA Bangna and IKEA Bang Yai.
In addition, there is a special campaign from IKEA for Business offering five businesses a makeover. Business customers can submit a registration form describing why they want IKEA to help makeover their business. IKEA will select five businesses to makeover with IKEA products worth up to 100,000 baht per business. Find out more and register at https://business.ikea.co.th/business-makeover from 3rd November 2021 onwards.
IKEA invites you to celebrate the 10th anniversary of IKEA Thailand. Get special privileges and souvenirs delivered from the heart of IKEA’s team at IKEA Bangna, IKEA Bang Yai, IKEA Phuket and IKEA website. Visit IKEA.co.th/10yearsofIKEAThailand for more information.