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paraphrase and summarize the following. Product Design and Range: IKEA is known for its modern, Scandinavian design aesthetic. Its products often appeal to customers looking

paraphrase and summarize the following. Product Design and Range: IKEA is known for its modern, Scandinavian design aesthetic. Its products often appeal to customers looking for stylish, functional, and affordable furniture. While Walmart offers a wide range of products, including furniture, IKEA specializes in home furnishings and accessories, providing a more focused selection. Price Strategy: Both IKEA and Walmart emphasize affordability, but IKEA's pricing strategy is closely tied to its design and flat-pack shipping methods, which reduce costs. IKEA's prices are competitive, but the company also focuses on value and quality within its price range. Store Experience and Layout: IKEA stores are designed to provide a unique shopping experience with their showroom layout, allowing customers to visualize products in a home setting. This contrasts with Walmart's more traditional retail layout. IKEA's store experience often includes additional services like a restaurant and childcare, enhancing the shopping experience. Sustainability and Environmental Focus: IKEA strongly focuses on sustainability, with initiatives in renewable energy, sustainable sourcing, and eco-friendly materials. This commitment to sustainability can be a differentiating factor for environmentally conscious consumers. DIY Assembly and Flat-Pack Furniture: A key aspect of IKEA's business model is its flat-pack furniture, designed for easy transport and customer assembly. This not only reduces costs but also appeals to a DIY market segment. Walmart's furniture is typically pre-assembled or requires minimal assembly. Brand Identity and Marketing: IKEA has a strong global brand identity associated with stylish, affordable home solutions. Its marketing campaigns often highlight design, functionality, and the IKEA lifestyle, which is distinct from Walmart's more general retail marketing. Global Presence: IKEA has a significant global presence, with stores in many countries worldwide. This international footprint diversifies its market and reduces dependence on any single market. Online Presence and E-commerce: Both companies have invested in their online platforms, but IKEA has been enhancing its e-commerce capabilities, including virtual room planning tools and online consultations, to compete in the digital space. Customer Demographic: While there's overlap, IKEA often targets a slightly different demographic, including young adults, families, and those interested in modern design, compared to Walmart's broader target market. Supply Chain and Inventory Management: IKEA's supply chain is highly efficient, focusing on cost control and inventory management. This efficiency is key to maintaining low prices and a wide product range

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