Ikea has announced plans for a dramatic “transformation of our business” over the next three years to keep up with changing shopping habits.
In a recent interview with the Financial Times, the company’s new chief executive Jesper Brodin said he wanted to increase the agility of the furniture giant, departing from its five-year strategies for the first time and driving decreased response times to consumer trends.
“There three years will be exceptional when it comes to change, entrepreneurship, test and try and exploring new ways forward,” Brodin said.
“It’s about the mindset: we are not going to have 10 years to gradually change and plan.”
This change will feature a drive towards online sales, aiming for a full digital solution in every country and affordable home delivery, moving away from its traditional out of town big-box outlets.
Currently, Ikea makes around five per cent of its total revenue from online sales, rising to 10 per cent in the UK.
“We are going to look into a transformation of our business,” he added.
“We are at a point where it is less business than usual than we have experienced in the past. The speed of change going forward will be incredible.”
Brodin added that Ikea would also “claim city centres” by opening smaller more experimental stores aimed at a more urban audience targetting 10 global hubs including London, New York and Tokyo.