Media365
Located in Beijing’s eastern Tongzhou district’s Wanli commercial complex, the new store spans about 1,500 square metres – far smaller than Ikea’s standard outlets measuring 30,000 square metres. It would have 20 display areas and mainly target young couples and families with kids, Ikea said on its WeChat account on Wednesday.
“Footfall at Ikea’s smaller-format stores could improve, given their locations closer to residential areas and transport hubs. This makes them more convenient for consumers to visit compared with large-format stores,” said Jay Lau, an analyst at S&P Global Ratings.
Ikea, the world’s largest furniture and home furnishing retailer, entered the Chinese market in 1998. It said Tongzhou district was becoming increasingly prominent as Beijing’s municipal administrative sub-centre, with a relatively young population and rising share of family households.
