IKEA Invests $2.2+ Billion to Bolster Omnichannel Growth in the US
As per the latest announcement, IKEA will spend more than $2.2 billion over the course of 3 years to boost growth in the US market. This is the record high investment from the company in four decades of operating in the United States. The funds will help to expand brand visibility in the market by opening new store locations and strengthening its fulfillment network.
“The US is one of our most important markets, and we see endless opportunities to grow there and get closer to the many Americans with affordable products and services,” said Tolga Öncü, Head of IKEA Retail, Ingka Group. “More than ever before, we want to increase the density of our presence in the US, ramp up our fulfillment capacities and make our offer even more relevant to local customers’ needs and dreams.”
With this plan, IKEA expects to bring the brand closer to US customers, both digitally and physically, and continue to pursue its vision of making the shopping experience convenient for everyone. IKEA is planning to launch 8 new stores, 9 plan & order points, and 900 pick-up locations in its first phase of development.
Javier Quiñones, CEO & Chief Sustainability Officer, IKEA U.S shared that the investment will get new initiatives running and fulfill the needs of customers:
“We are committed to continuing to grow in this market with our thousands of co-workers and millions of customers who look to IKEA for home furnishing inspiration and solutions at an affordable price. Our priority is to become more accessible, while staying as affordable as possible for the many people, which is especially important given the increasing costs of living.”
Apart from accelerating growth, IKEA will continue to support the people & planet and it is looking out to become climate positive by 2030. Thẻ firm will explore options such as clean energy, circularity, and affordable housing.
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