Ikea LiteThese IKEA Lite shops would lessen the overwhelming feeling numerous consumers may feel, since they wouldnot have as many product options located in a gigantic warehouse. Additionally, IKEA would beat out its competitors of general merchandise furniture like Wal-Mart and Target if they created the IKEA Lite shops.IKEA lite shops would lessen the What should an IKEA Lite store look like? IKEA lite would be convienently located, boast an in house coffee shop, bakery and have just a few products from each furniture selection. The IKEA lite concept would be the big-box retailer’s new experiment for unlocking fresh sales growth from neighborhoods where it wouldn’t be practical to put up a sprawling superstore. IKEA lite stores would typically be about 20,000 square feet, a small fraction of the 135,000 square feet a regular IKEA light typically gobbles up. Check out would be a breeze, due to several self checkouts in addition to a few cashiers. It would be very clean, and well stocked. What products should be sold? The IKEA light location will be curated with University students in mind, so the home-goods area will emphasize dorm room decor and organizers for small spaces. In addition to cater to the urbanites, the home-goods section will contain items designed for small apartment living or small offices. Items maybe very compact and could be carried home in an UBER or taxi. What is the customer experience at one of these locations? As in typical IKEA fashion, very few staff instore. Check out would be a breeze, due to mainly self checkouts. There could be phone stations or “ipad’ stations that could assist a shopper online or via a customer chat.
Who are their competitor / rivals in this space? Their competitors are Target and Walmart express stores as these are Brick and Mortar stores. Online stores such as overstock.com, wayfair and amazon would be rivals. Whats your target market? Univeristy students, young professionals and people considering downsizing their home.What are your tactics?The base of the marketing strategy is the merchandise, i.e., the product range and the prices of the products. My focus would be on the IKEA catalogue. A new ‘lite’ IKEA catalogue to focus on the target demographic should be published. This catalogue should be distributed on campuses, department stores, urban stores and other places the target demographic would be prevalent.
All you need to understand is that we are looking to be very good at what we do and the opportunity is huge for us to have that kind of opportunity. That means we must be able to do everything so that the potential can be developed, that we can have a high level of innovation (and) that people would be inspired to change. But we need to help make things that are unique because they are all new, they are not used to the current world, they are not used to a lot of things, they are not used to going into and out of work. We can help them to grow and to want to start to become leaders, they get so excited by it that they are just waiting on this new opportunity, but at the end of the day, this is a new era for them. I really am looking forward to meeting them, if that’s how that progresses.
For those who might not be so familiar with the retail business, it is a long process. There are many new retail businesses which will evolve, and the potential new industries come and go all the time. There are no winners. All that matters is the growth. Our target demographic. They will become the best selling retailers, that new retail stores will grow as well, our target demographic which is people who are getting jobs within the retail industry. That’s how they develop their portfolios and they’re learning and changing, and then they will continue to grow. And that’s the end of that; that’s the end of this project. That’s how it goes. That’s the end of it.
You are also looking to grow because you need a well-thought product that fits a target audience, and that’s what’s important here, what it’s about. But what we have this one solution to which there is a lot of variability, is we need to keep the focus on this. So we need a good product that is going to fit as a target to the people who choose it, and then you have a good product which will offer that target demographic a different level of sophistication that they can grow to. And you find that in the current model as well to which we will target it. And if we can do that with any store, we’ll find that this will be great.