IKEA satisfying Middle - Class Aspirations in India

The middle class falls in the middle of the social hierarchy and occupies a socioeconomic status between the working and the upper class. This class differs significantly among nations because of different cultures and economic variations.

“A healthy middle class is necessary to have a healthy democracy. A society made up of rich and poor has no mediating group either politically or economically.”

– Lester Thurow, Late IT Economist

Being the most thriving and vibrant catalyst for economic growth, the middle class has been the key driver of the economy of any country. It is a strong base that encourages other social developments, stimulates growth, and fosters the expansion of elements that contribute to a healthy society.?

Rapidly increasing urbanization, a large share of the younger population, and a rise in the middle classes have evolved India's furnishing and home décor market from once limited to now copious varieties of vibrant options. Today furniture is something inevitable in every household, that is from basics such as beds, sofas, dining tables, etc. to high-end décor items such as dressers, armories, launders, recliners, succulent plants, and much more. The furniture industry we see today has been shaped by influences from several foreign cultures.?

IKEA being, one of the largest multinational enterprises that manufacture and distribute quick, ready-to-assemble furniture, kitchen appliances, and home furnishings, as well as other useful household items and services, spent almost a decade studying the Indian market and examined the homes of metropolitan cities of India to see the lifestyle of people living in there.?

They observed that in India, the share of a growing working middle-class population is enriching. They do not have time to hire and sit with carpenters and keep a watch on them to see whether their work is smoothly taking place or not. For this class of people, IKEA offers a “flat-pack”, wherein one has to simply strip out the parts and assemble them. In this way, IKEA satisfies the consumers' expectations by offering them cheaper packs and saving labor costs as well.?

IKEA’s combination of low prices and easily assembled products is a big hit among India’s growing middle-class homeowners. In India nowadays, the nuclear families where there is more than one earning member in the family, either rent apartments or live in small spaces. They want simple home decor, simple yet elegant, which is not too complicated and which needs less time to assemble. This type of furniture looks pleasing in small spaces. IKEA keeps a check on the country's diverse traditional and cultural backgrounds and situations mind with keeping in mind the inclusiveness of space. So middle-class families can also afford and have them decorated in their small spaces.

Whether or not people shop at IKEA. ultimately everything comes down to the one most important factor when talking about the middle class, that is the Price. This class of people is not only price-sensitive but also value-sensitive. They would not be satisfied with cheaper products and whatsoever quality. They want both and can lose trust very easily if they have to compromise with any of the ones. Here enters IKEA, which offers a good reasonable price. satisfaction- worthy quality and an involved in-store experience.?

It has not been hidden from anyone how IKEA’s immersive consumer experience builds up an appetite. Talking about middle-class people having kids or the families which live in a joint family, often want a getaway which is comparatively near and family-friendly, for such families, IKEA seems to be the perfect weekend go-to place, as it not only offers a dynamic shopping experience but also offers a unique and interactive experience for every age group. They have very strategically placed food stalls and a cafeteria in the mid-journey.?

Therefore, not only for middle-class people but also for people of any class or social status in India, IKEA quite purposefully has “something for everyone” from the minute one enters the store to the moment one leaves the parking lot.?