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As a cost-conscious consumer, you ability be because IKEA as your abutting destination for a bargain appliance shopping. But is it absolutely that affordable? Our analysis shows that IKEA ability not represent the cheapest deals for home furnitures in the Singaporean market. Beneath we altercate our allegation and some admonition to admonition you accompany bottomward the amount of your home refurbishing project.
We’ve begin that IKEA can be about 24% added big-ticket for 22 types of furnitures we quoted from Furnituremart, Lazada, FortyTwo, and HipVan. The surveyed accessories accommodate wood, plastic, and steel-based furnitures like wardrobes, drawers, and dining tables that are frequently begin in a Singaporean home. For some furnitures like sofa, the amount aberration begin in one admeasurement of a appliance (e.g. 1-seater sofa) tended to abide beyond added sizes (2-, 3-seaters and so on).
IKEA tended to be added big-ticket for baby to average sized wardrobes beneath the amplitude of 200cm. In the three categories of 50-99cm, 100-149cm, and 150-199cm, IKEA’s wardrobes were about 90% added big-ticket than those from online retailers like FurnitureMart and Lazada. For beyond sizes of over 200cm, IKEA offered aggressive prices compared to its bristles added aeon we’ve surveyed.
From 2-seaters to 4-seaters, IKEA’s sofas were consistently priced college than best of its aeon in the market. Not alone that, the amount per assemblage aggregate (cubic cm) of the furnitures was additionally college for IKEA. While this metric does not absolutely abduction the amount of a daybed as added things like the affection of abstracts matter, we did our best to analyze accessories that were best agnate in their appearance and material. Overall, we anticipate this bond reveals how abundant exceptional you accept to pay for agnate types of sofas.
IKEA offered cheaper prices for 3 out of the 5 types of drawers we surveyed by the cardinal of doors. These accommodate 2-, 3-, and 6-door chest drawers, for which IKEA was about 18% cheaper. In contrast, retailers like FurnitureMart had 4- & 5-door chest drawers that were about 45% cheaper than IKEA’s commensurable drawers. While our analysis doesn’t abduction the absolute appliance market, this aftereffect highlights the abstraction that you should do a absolute analysis of the marketspace in adjustment to acquisition the cheapest accord possible.
Depending on whether or not a anatomy comes with accumulator spaces in the bottom, IKEA’s prices showed alloyed after-effects back compared adjoin added competitors. In general, IKEA’s bed frames with accumulator were cheaper, but added sites and retailers had added affordable bed frames that do not appear with storages. It should additionally be acclaimed that the bazaar for no-storage frames represents the lower-end space, and the amount aberration amid vendors is not that significant. Therefore, we acclaim that you abject your best not aloof on price, but on added factors like abstracts and backbone for cheap, no-storage bed frames.
IKEA had a appraisement advantage for abate dining tables (4-chair and below), and was added big-ticket for beyond dining tables (6-chair tables). For 4-chair dining tables, IKEA had the everyman amount amid the retailers we’ve sampled, over 50% lower than the abutting cheapest commensurable artefact from FurnitureMart. For 6-chair dining tables, however, Lazada awash a cheaper table that was beneath than bisected the amount of a commensurable IKEA product. Although IKEA’s dining tables with 4 & 6 chairs showed alloyed results, IKEA offered different 2-chair dining tables that are rarely begin in added online vendors we surveyed.
While IKEA’s furnitures are not the best affordable as discussed above, they additionally appear with hidden costs that ability accession your appliance budget. These accommodate commitment costs of $55-90 as able-bodied as the accession fee of minimum of S$30 or 8% of your appliance value. Not alone that, all of IKEA’s furnitures appear in collapsed boxes, which agency you charge to accumulate them from blemish and be amenable for the accident if you don’t accumulate correctly. Such costs represent added banking burden, so you should counterbalance your options anxiously while attractive for commensurable accessories from retailers who action chargeless commitment & accession like FurnitureMart.
IKEA offers a adherence affairs that gives appropriate discounts and restaurant allowances to its members. While these appearance are accessible to you for a minimum spending of alone S$150, the low access barrier additionally agency that the annual you get is not so great. For example, the accepted advance for IKEA FAMILY associates offers discounted prices on 19 furnitures, 7 of which are items priced aloft S$150. However, you can alone acquirement 2 appliance accessories per annual and the admeasurement of abatement is low (about 29%). Because of this, we anticipate that this adherence affairs shouldn’t bulldoze you to absorb added on IKEA if cheaper alternatives are accessible elsewhere.
Furnitures from IKEA tended to be bigger by ambit and pricier compared to their peers, which agency that some IKEA furnitures may represent the “higher” end amplitude in Singapore. For example, a 3-seater daybed from IKEA were about 31% best in breadth than its competitors, apery beyond breadth per basement and added affluence demands. The per-volume prices were additionally college for over 47% of furnitures we surveyed in this study.
It should be acclaimed that afterwards aboriginal aperture its Singaporean operation in 1978, IKEA has captivated a arch bazaar position. We can acquisition an archetype of its appraisement ability by attractive at the aforementioned artefact awash in Singapore that is about 70% added big-ticket than in the U.S. As of 2017, over 1,900 companies are in the appliance accomplishment & retail business, potentially aggressive adjoin IKEA. It charcoal to be apparent how such antagonism will comedy out, but the appliance giant’s bazaar position seems to be a claiming in added neighbour countries as well.
Furnitures can be a aloft basic of the amount of accouterments in your home. Because they are both big-ticket and awful personal, aggravating to abate amount while maximising amount can be a abominable process. Despite the avant-garde feel and its accustomed adherence program, IKEA isn’t the best affordable best back compared adjoin its competitors. Not alone that, there are acceptable alternatives out there acknowledgment to Singapore’s able-bodied appliance industry. We animate our readers to accede online appliance retailers like those we discussed above, and additionally appointment offline showrooms to accede the abounding account of their options to accomplish the best of their home advance endeavours.
The commodity IKEA: The Cheapest Way to Buy Furniture? originally appeared on ValuePenguin.
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