IKEA Rolls Out New Smaller Stores and Expanded Services To Meet Changing Shopper Needs
• IKEA opens new smaller format "Plan & Order" stores in the US and UK to provide more convenient locations and services like home planning, online order pickup, etc.
• The new store format helps expand IKEA's reach and accessibility in urban areas and captures different shopper missions vs the big warehouse stores.
• IKEA plans further expansion of the "Plan & Order" stores in the US and UK throughout 2024 after a successful launch in 2023.
• Along with store expansion, IKEA also grows services like gently used furniture resale, office furnishing for businesses, and affordable interior design.
• The moves to diversify store formats and services follow IKEA's strategy to cater to more shopper missions and convenience needs after a record sales year in 2023.