Thursday, 16 August 2018
Latest news
Main » IKEA store attracts 40,000 customers on first day

IKEA store attracts 40,000 customers on first day

12 August 2018

Satish Meena, analyst at research firm Forrester said: "Ikea will have to focus on staff training, the right mix of branding and reaching out to more customers in smaller cities and towns".

John Achillea, IKEA's Managing Director for Telangana, Telangana's IT Minister K.T. Rama Rao and other key individuals of the Sweden-based furniture retail company inaugurated the store. The first India store was opened five years after the world's largest single brand retailer received government approval in 2013 to invest Rs 10,500 crore to open 25 stores in India by 2025.

After Hyderabad, IKEA's second store would be in Mumbai next year, followed by Bengaluru and Delhi-NCR.

More news: In wake of critical book, Trump calls Omarosa 'a lowlife'

The store houses a 1,000-seater restaurant, IKEA's largest and possibly India's largest restaurant, a cafe which will offer coffee, bakes, frozen yogurt and many more for purchase, a kids' play area named Smaland where customers can leave their children safely.

India's furniture and furnishing market is largely unorganised with big players catering to high-end market. About 5% of IKEA's 38 billion euros global revenue in 2017 came through online sales. We have two ranges.

All roads led to Swedish home funishings behemoth IKEA's first India store at HiTec City on opening day as thousands of shoppers thronged the store, resulting in bumper-to-bumper traffic that brought Hyderabad's bustling IT hub to a grinding halt on Thursday evening.

More news: Turkey turmoil rattles Wall Street, banks take a knock

Alongside standard Ikea furniture, "locally relevant products" such as masala boxes, Indian frying pans, rice cake makers and mattresses with a coconut-fibre centre, will be on offer.

The traffic jam in Hyderabad was so huge that people started talking about it on Twitter and shared photos of the jam. Take a look at some of them. "I have never been to an IKEA store before".

The Swedish furniture company may open its 289,000-square-foot Live Oak store as soon as January or February 2019 despite previous reports scheduling the opening for summer 2019, then spring 2019.

More news: Pogba penalty sets United on way to win over Leicester

"It will be a flop, I tell you", he told AFP. Today, as a few dozen early shoppers walked through the doors as the emporium opened in Hyderabad, the acid test began of whether the furniture giant understands what Indian consumers want. I don't think it will give us much competition.

IKEA store attracts 40,000 customers on first day