#IKEA
IKEA Under Siege in the Global Furniture War with Amazon, Temu and Online Marketplaces
Once a near-unbeatable force in home goods, IKEA is confronting slowing growth, cost headwinds and a new landscape where consumers demand low prices, convenience and fast delivery. To respond, the Swedish giant is overhauling its strategy, expanding formats, and embracing digital and omnichannel retail as it fights to retain relevance in a marketplace dominated by digital giants like Amazon and Temu.
IKEA to Close Seven Stores in China as It Shifts Retail Strategy Amid Property Market Slump
Swedish home furnishings giant IKEA will shut seven of its offline stores across China amid weak consumer spending and a persistent property crisis. The move reflects a strategic pivot from large-format expansion to targeted market cultivation, including plans to open over ten small-format stores in key urban centers over the next two years.