How Ikea Survived the Retail Apocalypse

With the start of a new decade, 2020 shows a marked shift in how customers interact in the retail world. Trends in online shopping are on the rise, forcing retailers to change the game.

How can retailers attract clientele in this on-the-go, convenience oriented culture?

Innovation.

In order to survive, companies must determine what type of changes will set them apart and draw in the crowds. It’s time to seek out novelty ideas and discover what works best.

Ikea, for instance, is a prime example of what retail-done-right looks like. Drawing attention to the 280,000 sq. ft. brick-and-mortar developed in Live Oak, Texas, SACurrent highlighted Ikea’s excitement to share the “Ikea Experience” with customers in the San Antonio area upon its grand opening in 2018. This statement made by their store manager Deidre Goodchild embodies the reason for their success in the midst of a shifting retail market.

What is the Ikea Experience?  Free childcare, open food court and excellent customer service both online and in-store. Ikea developed their 280,000 sq. ft. of retail space to be more than a store to find products, they created it to be a leisurely place to come and enjoy themselves. Also making assembly services available for an additional fee, for customers who do not wish to assemble their purchase themselves.

Determine what creates a positive customer experience.

By determining what creates a positive customer experience and incorporating these aspects into their establishment Ikea has successfully provided the customer with every reason to come into their physical location. As a result, they’ve managed to swell the tide amidst the shifting retail market by embracing change and discovering what it means to create a wonderful experience for the customer both for their online and in-store customer base.

According to Experian, creating an online presence for customers to interact with your brand is critical. Another essential factor that will contribute to business success in 2020, is establishing a system to streamline and simplify for on-the-go clients. While each of these touchpoints are essential to make your brand known, The Future of Retail 2020  extrapolates that the brick-and-mortar store front is not to be overlooked. Having a physical location by which businesses can create a unique customer experience is key to building and strengthening their clientele base in this online, consumer driven society.

BISNOW sheds light into the world of e-commerce and what that means for brick-and-mortar stores. Melina Cordero, the head of Global Retail Research at CBRE, predicts that retailers who have been solely reliant on their online platform will begin investing in creating a “physical footprint” in order to maintain their customer base and see it multiply. Thus, producing a rising demand for retail spaces to serve their needs.

Set yourself apart.

A more rewarding experience for clients is the future of retail in 2020. In order to set itself apart from the convenience of online shopping, physical retailers will need to attract more customers by creating a unique experience like Ikea has, as soon as they walk in the door.

IRC’s Mission Oaks location at 16350 Blanco Rd. offers a number of opportunities from enjoying Italian food, to recreational shopping, along with attaining your 2020 fitness goals by joining a workout facility. As demand rises for commercial retail spaces it is important to seek a location that will serve your business needs and attract customers to your business.