IKEA opens Mumbai market with an online store as part of its new multichannel approach to reach 100 million customers in the next few years
August 19, 2019, Mumbai – IKEA, the world’s leading Swedish home furnishings retailer, today launched its online store in Mumbai, with a vision to become accessible to the many of the city with more than 7,500+ products to make everyday life brighter for the many. Ranging from home furnishing solutions to electronics and more, the online store www.ikea.com/in, caters to all locations spread across the city.
IKEA’s unique Mumbai market entry, led by e-commerce marks a significant milestone in the Swedish retailer’s New Retail Direction which aims to bring it closer to where people are, with new touchpoints and services, focusing on both digital and physical formats. Mumbai will see a multichannel offer including smaller format stores, and a big format store in Navi Mumbai.
On this occasion, Peter Betzel, CEO, IKEA India said, “India’s retail landscape is changing at a scale and pace not seen before driven by increasing urbanization and changing customer behaviours. To be a key partner to the many of India in this journey, IKEA is also transforming. Today marks an important occasion in our history as we roll out our multi-channel, digital first approach with Mumbai being amongst the first few markets worldwide, where we are bringing alive this transformation.”
The IKEA online store will provide ideas, inspiration and solutions that reflect IKEA’s ‘Life at Home’ study which was conducted as part of IKEA’s efforts to understand the way Mumbaikars live – inside and outside their homes, their tastes and motivations. Carried out through a combined approach of home visits by IKEA experts, and data-rich surveys, Life@Home covers different room settings based on different aspects of the home and offers deep insight into the living styles of all segments across the city.
“Using our learnings from Life@Home and our unparalleled product proposition, we are looking to inspire the many people of Mumbai to re-imagine their homes with affordable, simple, imaginative home furnishing solutions that are practical but at the same time also beautiful, multi-functional and sustainable. We are here to learn from the city as much as we are here to offer our solutions. Thus helping the many maximize the potential of their homes enabling a brighter everyday life at home.”Peter added.
IKEA aims to reach out to people with thin wallets by offering products with everyday low prices. The online store will offer 1000 products priced below Rs.200. All the prices are the same across India, both in offline store and online. Deliveries can be arranged to most locations in Mumbai and Navi Mumbai within a lead time of 4-7 days after placing the online order subject to availability and the distance from the centre.
IKEA has been sourcing from India for close to 35 years for its global stores. In India, IKEA currently has more than 55+ suppliers with 45,000 direct employees and 400,000 people in the extended supply chain.
On 9th August 2019, IKEA celebrated its first-year anniversary in India marked by offers, fun-activities for children, workshops and exciting prizes for the many at its Hyderabad store. So far, more than 3 million customers have visited IKEA’s Hyderabad store and about 8 million have visited IKEA’s India website. The company aims to maximize local sourcing from Maharashtra in the long term to make the products more affordable. As it sets a goal to reach 100 million people in the next 3 years, the foundation for a strong and relevant offer is affordability and accessibility.