Ikea to Invest $2.2B in Online & In-Store Model Over Next 3 Years
Ikea will invest more than $2.2 billion over the next three years on its online and in-store shopping experiences over the next three years. CEO Javi Quiñones stated that the investment is "an indication of how important the U.S. market is for Ikea" after the Swedish company opened operations in the U.S. nearly 40 years ago. The home furnishing company will open nine "Plan & Order points," which are an extension of Ikea's existing "planning studios." These shopping experiences will provide customers with personalized help on home projects like kitchen or bathroom remodels. Customers will be able to order items to be shipped directly to their homes after consulting with Ikea's in-studio planners without having to stock merchandise at individual store locations. The company opened its first plan and order point in New York’s Upper East Side in 2019, calling it its first “city center” location, and has since gone on to open several other storefronts.