Thursday, June 25, 2020

Ikea Develops Ingka Centres, a New Type of Mall.

Malls across North America are struggling. More than 13,000 mall stores are expected to shutter in 2020, according to Coresight Research projections. Ikea has a different idea. They are looking for locations in New York, Los Angeles, San Francisco and Chicago to develop malls, known as Ingka Centres. The company is expected to expand to 75 Centres worldwide by 2025.

Ikea’s Ingka Centres envision a new type of mall that serves as a meeting place where consumers can connect, socialize, be inspired and experience new things in addition to shopping. The new developments also are responding to changing demographics. Currently, 83% of the U.S. population lives in urban areas. That percentage is expected to increase to 89% in the next 25 years.

A key to the success of the Ikea mall concept is to attract retailers that are like-minded and understand customer journeys and can blend online shopping with in-store experiences. Ikea being a destination in and of itself is another advantage the company has to attract cutting edge retailers and emerging brands that typically would not consider leasing at a traditional mall.

DPH showrooms could be a great addition to Ingka Centres. What do you think?

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