Even so, the IKEA operator is doubling down on the mall. Ingka opened its first mall, or meeting place as it calls them, in 1973 in Sundsvall, Sweden, together with an IKEA store. Ingka’s push into malls has latterly been driven by the invention of a new compact-format IKEA store, designed for the city centers rather than its typical suburban warehouses. The Swedish furniture brand’s popularity ensures that a mall hosting an IKEA store will receive a certain level of traffic. But after Covid decimated mall traffic, finding new ways to attract visitors has become much more urgent, she said.

Source: Wall Street Journal February 26, 2024 06:20 UTC