New Delhi: IKEA has more than double the online sales in India within two years, thanks to Pandemic Coronavirus, which imposes people to shop from home.
From around 12% before the pandemic, online sales currently contributed more than four of the sales of Swedish furniture retailers in the domestic market, Peter Betzel, CEO & CSO at IKEA India, to Tii.
“We have seen around the world that online sales and online interest have increased by 70%.
It’s almost 30% share of the total turnover,” he said.
“The trend is here to stay,” Betzel said on the night opening ‘Ikea ​​City Store’ at Worli, Mumbai.
City shop is a group A of small shops that will be launched by companies to reach more consumers.
While only limited product inventories in these small shops will be available for direct takeaway, others will be sent home.
This step, which signifies the Omni-Channel approach by IKEA, is very contrasting to the original global banking strategy solely in large format stores, similar to Walmart in the US.
“What also happens is that we have accelerated our Omni-Channel’s approach in terms of accessibility,” Betzel said.
IKEA has a big plan for 2022, with other city stores scheduled to open in Mumbai, followed by large formats and city shops in Bengaluru.
IKEA has invested Rs 10,500 Crore in Indian retail operation and 6,000 crore Rs in Maharashtra in 2030.