Ikea moves with the times as it shifts marketing strategy
Ikea is often held up as an example of creative excellence, with its ‘Wonderful Everyday’ campaign helping cement the brand’s positioning and drive sales success. But the market is changing – more people are renting homes rather than buying and living with friends rather than partners. That means changes to how they decorate and buy furniture.
Ikea’s previous marketing strategy made much of the complete style overhauls it could offer – from new kitchens to revamping dining rooms. But increasingly this isn’t what people are in the market for; instead they want style updates – some cushions to make an old sofa look new or a rug to give a room a different look.
Ikea, ever on top of changing consumer trends, recognises this and has shifted its strategy accordingly. The new campaign, named ‘New Wonders Can Come Out of the Blue’ and created by Mother, puts the focus on production innovation, showing how just a few new items can transform a home. And it has revamped its ‘New at Ikea’ hub to feature all these new products.
As UK and Ireland marketing manager Laurent Tiersen puts it: “When it comes to revamping your home, you don’t always need a complete style overhaul. In fact, it’s often the little new things that can make all the difference.”
Coca-Cola jumps on the coffee trend as it buys Costa
Food and drink companies are having to look for new ways to fuel growth as the old strategy of looking to emerging markets begins to falter. One of the most obvious is mergers and acquisitions, and many are spending big to get a foothold in new or fast-moving sectors.
Coke’s acquisition of Costa is the latest of these. The company has paid £3.9bn to grab a piece of the coffee market, which is expected to see value sales grow by 15% between 2018 and 2022, according to Euromonitor. That’s a far cry from the declines expected in Coke’s core fizzy drinks market.
Coke is not the only company making big bets on external firms to drive sales. Pepsi has bought Sodastream, while Nestlé has partnered with Starbucks on…