The main competitors of IKEA in the furniture and home goods market include brands like Walmart, Amazon, and Home Depot. These companies offer a range of products, but none have matched IKEA's unique mix of modern Scandinavian design, affordability, and customer experience. Other notable competitors are Target and Wayfair, which also focus on home furnishings but differ in their pricing strategies and product selections.

In terms of revenue, Walmart is the largest competitor of IKEA, generating approximately $559 billion in revenue in 2022. Comparatively, IKEA reported revenues of around $43 billion, highlighting the vast scale of Walmart's operations in the retail sector. Other significant competitors include Amazon with $469 billion and Home Depot at $132 billion, showcasing the diverse marketplace in which IKEA must compete.

IKEA maintains its competitive edge through affordable pricing, innovative design, and an extensive product range. The brand's focus on sustainability and eco-friendly practices also appeals to environmentally conscious customers. Its engaging store layouts provide customers with a hands-on shopping experience that few competitors offer. Moreover, the company's streamlined assembly process simplifies the DIY experience, attracting a wide range of customers who appreciate practicality and style.

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