宜家越开越小

Core Viewpoint - IKEA China is undergoing a significant structural transformation, shifting from large stores to smaller formats, emphasizing efficiency over personalized shopping experiences, and balancing online and offline channels [1][4]. Store Layout Changes - IKEA China announced the closure of seven large stores in cities like Shanghai and Guangzhou by February 2026, marking the largest scale of store closures to date [3][6]. - The new store strategy will focus on smaller stores, with plans to open over ten small-format stores in key markets like Beijing and Shenzhen within the next two years [7][8]. Small Store Concept - The design ordering center in Beijing, a small store model, is approximately 400 square meters, contrasting with traditional stores that typically exceed 30,000 square meters [9][12]. - This small store format includes a home solution exhibition area, a snack and beverage section, and a full-home design center, providing a more compact and focused shopping experience [9][10]. Online and Omnichannel Strategy - IKEA is enhancing its online presence, having entered the JD.com platform in August 2025, following its earlier launch on Tmall [17]. - The company reported that online channel visits reached 370 million in the 2024 fiscal year, with over 70% being active consumer visits [17]. Pricing Strategy - IKEA has initiated a significant price reduction strategy, starting in 2023, affecting over 300 products, with plans to invest 160 million RMB to introduce more than 150 lower-priced products in the Chinese market [18]. - Over the past two fiscal years, IKEA has invested more than 673 million RMB in pricing strategies, resulting in over 500 lower-priced products [18]. Market Context and Performance - The retail environment in China is undergoing unprecedented changes, with a reported 15.9% decline in real estate investment and a 2.95% drop in sales for major home furnishing markets in 2025 [20]. - IKEA's sales growth has slowed significantly, with a drop from 120.7 billion RMB to 111.5 billion RMB in the 2024 fiscal year [20][21]. Consumer Preferences - There is a growing consumer preference for high-cost performance and personalized products, with a demand for seamless shopping experiences that integrate online and offline channels [21][22]. - The shift in consumer behavior reflects a broader trend towards quality, rationality, and individualization in the home furnishing market [21].