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Retail Top 100 2012, No. 41: Ikea

September 27, 2012

Ikea is developing its website to have a broader geographic reach and offer more services, such as allowing customers to select items they want in the store and have them delivered to their home without having to gather them from the outlet's warehouses. The world's largest furniture retailer, known for setting a price point for a product and then figuring out how to make it, will cut prices by 1.5 percent this year as its increased scale allows it to produce items at less cost. Ikea, which updates its collection of about 10,000 products with more than 2,000 new items a year, will continue investing in products and enlarging stores in the coming year, adding 50 more stores in North America by 2013. Ikea expects to triple its pace of store openings in China to capture faster growth in the second-largest economy, says CEO Mikael Ohlsson. The expansion in China will also allow the company to reduce its reliance on Europe, which is suffering from a slump in consumer confidence.

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