It was just a week ago that we wrote about how Ikea was testing one of its new small-format stores in Warsaw - a 54,000 square feet unit that is 25 percent of the size of a standard Ikea store.
Now, CNBC reports that Ikea has picked a location for its first small store in Manhattan - on the Upper West Side, next door to Bloomingdale’s.
According to the story, “Ikea's move into Manhattan comes as many retailers — including Target, Kohl's and Macy's — are shrinking their existing full-size stores or experimenting with opening up smaller-format locations in densely populated markets such as Manhattan, Los Angeles and Chicago. As more and more shoppers are turning to the internet to ring up purchases, companies are finding they don't need as much real estate.”
Now, CNBC reports that Ikea has picked a location for its first small store in Manhattan - on the Upper West Side, next door to Bloomingdale’s.
According to the story, “Ikea's move into Manhattan comes as many retailers — including Target, Kohl's and Macy's — are shrinking their existing full-size stores or experimenting with opening up smaller-format locations in densely populated markets such as Manhattan, Los Angeles and Chicago. As more and more shoppers are turning to the internet to ring up purchases, companies are finding they don't need as much real estate.”
- KC's View:
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Can’t wait to see it, if only because I am curious about how a retailer that is almost definitionally a big-box concept picks and chooses for a smaller footprint. Ought to be lots of lessons there for other retailers. I’ve long argued that retailers specializing in 150,000 sq. ft stores ought to be thinking in terms of 75,000 sq. ft, that retailers specializing in 80,000 sq t. stores ought to planning 40,000 sq. ft. units, and so on.
