More than two million customers visited IKEA`s first India store in Hyderabad during the financial year 2019-20 (Sep to Aug). It may be recalled here that the company was expecting seven million footfalls when it opened the store in 2018. The Covid-19 pandemic has apparently affected the numbers.
In addition to two million plus customers visiting its Hyderabad store, 25 million plus people visited IKEA online. IKEA India has opened online stores in Mumbai, Hyderabad and Pune in 2019. Mumbai is the first IKEA market to launch online without physical stores.
Recently, IKEA had announced that with the changing consumer behaviour due to the health crisis, online business will play a very important role for the company, which plans to expand in India with an omni-channel approach. IKEA has a target to reach 100 million people in India by 2022 through an omni-channel approach.
During lockdown, IKEA had introduced ”Click and Collect” contactless and safe shopping in Hyderabad. Now more people are shopping online for all the things they need for their homes. Besides, IKEA has introduced online consultations/planning services for kitchen, office furniture, wardrobe etc.
IKEA India opened its first retail store at Hyderabad in August 2018. IKEA had received government approval in 2013 for its Rs 10,500-crore proposal to open retail stores under 100 per cent FDI, has signed MoUs with Karnataka, Telangana, Maharashtra, Uttar Pradesh and Haryana to open retail stores. The company is planning to open 25 stores by 2025 in nine cities. Its second store will be opened in Mumbai and that will happen within next six months.