Core Insights - IKEA China announced its entry into JD.com, with the official flagship store set to open on August 8, 2023, offering over 6,500 products across 168 categories, enhancing its omnichannel retail strategy [1][2][3] - The launch is part of IKEA's "Growth+" strategy, aimed at reaching more quality-conscious Chinese families and improving its omnichannel ecosystem [1][3] - Since its first store opening in Shanghai in 1998, IKEA China has primarily relied on physical retail, with a significant shift to online channels starting in 2018 [1][2] Company Performance - In the fiscal year 2023, IKEA's global retail sales reached €47.6 billion (approximately ¥365.09 billion), marking a 6.6% year-on-year increase [2] - However, in fiscal year 2024, retail sales are projected to decline to €45.1 billion, a decrease of 5.3% year-on-year, indicating pressure on performance [2] Market Strategy - The slow expansion into third-party e-commerce platforms, taking an average of four to five years for each entry, highlights IKEA's cautious approach [2] - The entry into JD.com is seen as a strategic move to adapt to the highly digital retail environment in China, focusing on consumer needs and preferences [2][3] - IKEA aims to enhance its omnichannel service system, integrating online and offline channels to provide a more comprehensive shopping experience for Chinese consumers [3]