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LOOKUP to return default value if not found match value in Excel

In Excel, it will return the error value #N/A if it does not find the matched value while using VLOOKUP function as below screenshot shown. For avoiding the error value appears, you can use a default value to replace the error value if not found the matched one.
doc three way lookup 1

Please select a cell to place the formula, type this formula/p>

=IFERROR(VLOOKUP(G2,$B$2:$D$7,3,0),"Not Found")

G2 is the lookup value, B2:D7 is the table array, 3 is the number index you want to return, Not Found is the default value that will display if the VLOOKUP function does not find out matched value.

Press Enter key to return the match, if there is no match, it will display Not Found.
doc vlookup return default value 2

Note: if you are using Excel 2007 or prior versions, you can try this formula =IF(ISERROR(VLOOKUP(G2,$B$2:$D$7,3,0)),"Not Found",VLOOKUP(G2,$B$2:$D$7,3,0))

Tip: If you just want to replace the error values to a specific text after applying the general VLOOKUP formula =VLOOKUP(F2,$B$2:$D$7,3,0), you can use the Error Condition Wizard of Kutools for Excel to quickly replace errors to zero, blank cell or a text as you need.  Click for free download it now.
error condition wizard

Sample File

Click to download the sample file

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Using vlookup and sum function helps you quickly find out the specified criteria and sum the corresponding values at the same time.

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This tutorial introduces a formula to look up three values and return a mated value.

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