With many of us spending more time at home than ever before, the demand for furniture and home decor has increased substantially.
As we each cozy up in our homes and make our nests just how we like it, the furniture retail sector has seen a boom in sales.
How much time have you spent flipping through magazines, pinning home decor design ideas, and salivating at those home renovation shows?
You know what you like, you know your personal style. Are you more modern or boho? Contemporary or timeless? What is your budget?
With all of these questions, where to shop? Do we opt to browse online only or prefer to see furniture in person before we purchase?
There are endless options available more than ever to consumers to find the perfect home furnishings, regardless of budget or style.
Ikea’s Biggest Competitors
One of the top household names in home furniture is Ikea, the international sleek European style at surprisingly affordable prices.
Ikea’s competitors are Wayfair, Ashley HomeStore, and Williams Sonoma.
These home furniture stores are alternatives to Ikea for those looking for a different style than the minimalist, Scandinavian style signature to Ikea.
Ikea’s biggest competitors cannot compete with its price point.
However, Ikea alternatives provide more style variety, such as farmhouse chic, bohemian, or eclectic.
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Ikea Competitors: Wayfair
Wayfair is an e-commerce furniture company founded in 2012, producing an average of $9.5 billion in annual revenue, and employs over 15,000 employees.
Wayfair’s virtual company connects over 11,000 suppliers internationally to sell affordable home goods and furniture.
With such a large reach, Wayfair gives the most variety to its customers to choose from.
Customers are bound to find a statement piece that perfectly suits their style.
A user-friendly website, excellent customer service, and free shipping give Wayfair the competitive advantage as a virtual company.
Customers cannot visit a showroom and look at pieces in person like traditional furniture shopping.
However, the dedicated online community of reviews and seemingly endless varieties and choices to choose from open the home decor shopper to an entirely new world.
Wayfair’s variety does not stop with the amount of furniture and suppliers.
It offers both affordable and luxury home decor items, looking to serve as many different styles and budgets as possible.
Ikea Competitors: Ashley Furniture
Ashley Furniture was founded in 1975 in Wisconsin. Ashley Furniture sets itself apart as the only furniture store that delivers products within two days.
It has over 5,000 employees and earns nearly $5 billion in annual revenue.
Ashley Furniture, and its affiliate Ashley HomeStore, caters to those that want quality furniture at budget prices.
Their showrooms allow customers to fully immerse themselves in inspiring spaces showcasing Ashley Furniture’s 3D-printed products — which also cuts down on production cost and time.
Ashley Furniture offers a variety of styles of furniture, from classic, contemporary, or shabby-chic, and these styles can be experienced in showrooms in any of their 600 stores.
Ikea Competitors: Williams Sonoma
Williams Sonoma was founded in 1956 and is headquartered in San Francisco.
It seeks to serve all aspects of home life with its diverse brands, including Pottery Barn, Pottery Barn Kids, and Williams Sonoma Home.
With over 28,000 employees, Williams Sonoma generates annual revenue of over $5 billion.
Williams Sonoma is a trusted, quality household name, upheld by its reputation of consistently good quality products and unmatched branding.
Its modern, striking style and reputable guaranteed quality offer its customers furniture pieces that emphasize fair trade, organic, hand-craftmanship.
This quality comes with a steeper price tag.
What is Ikea’s Advantage?
Ikea was founded in 1943 in the Netherlands, beginning as a mail-order catalog.
With over 211,000 employees, Ikea generates annual revenue of over $44 billion.
Ikea’s advantage is in its international reach, providing stylish, modern looks at surprisingly low prices because costs are significantly minimized in shipping as a result of flat packing.
Furniture is purchased for customers to assemble at home, cutting down on labor costs.
Finally, Ikea designs their products to be the most cost-effective based on the number of materials and how it is treated.
Ikea’s price for its furniture is unmatched by its competitors.
It allows people of any budget to enjoy stylish, quality furniture.
Their warehouse-style stores offer infinite inspiration with plenty of styled rooms to help you realize your own vision for your space.
Ikea highlights a modern, clean, European home style. The minimalistic design is Ikea’s signature, making it an easily recognizable household brand.
Ikea’s Biggest Competitors: Final Thoughts
Ikea’s biggest competitors include Wayfair, Ashley Furniture, and Williams Sonoma.
Each of these furniture and home goods companies vary in style, price, and shopping experience.
Wayfair is an e-commerce company, therefore there aren’t any locations or showrooms that would allow a customer to see items in person.
However, it offers the biggest variety of furniture options since it connects with suppliers internationally.
Wayfair is best for those looking for that special, unique statement piece or who like having a lot of choices.
Ashley Furniture is the trusted, kind Midwestern neighbor that seems to have a timeless quality about them.
They offer in-person and online shopping experiences, allowing customers to look around or have their product delivered within two days.
Ashley Furniture promises quality furniture at budget prices.
Williams Sonoma brings an air of sophistication and quality with its name.
The home goods, such as cookware or small appliances, guarantee the high standard of quality Williams Sonoma is known for.
Ikea serves to be the home furniture store that emphasizes what they call “democratic design,” as in a design that is accessible to everyone.
With the democratic design, Ikea’s furniture and products are ridiculously affordable and stylish.
Also, Ikea’s emphasis on using materials efficiently and minimalist design allow for an infinite number of compatible combinations and variations.
Ikea’s minimalist, versatile product designs are the reason for a loyal fanbase of “Ikea Hackers,” those that customize their Ikea furniture with simple DIY upgrades, creating a true one-of-a-kind piece from an otherwise mass-produced generic furniture item.
No matter the budget, style, or location, each home can be furnished as uniquely as the individuals within the homes themselves.