IKEA to open PH online store first in 2021

IKEA announced in a press release today the company will be opening its online store in the Philippines months before its physical store next year.

IKEA Philippines online store in 2021 2

IKEA Philippines online store in 2021

The company shared that after more than a decade of expansion and growth, IKEA Southeast Asia and Mexico recorded its first drop in revenue by closing out its most challenging financial year with MYR 3.4B (around PHP 40B) in turnover.

IKEA didn't mention it, but COVID-19 probably played a role in this drop.

But at the same time, the pandemic also accelerated the company's focus on digital transformation due to the surge of interest in home furnishing during the lock-downs. IKEA shared that it has more than doubled its online sales in Southeast Asia this year.

Our priority is to do everything we can to keep co-workers and customers safe, and to keep going—because our visions to create a better everyday life for the many has never been more relevant, says Mr. Rojkjaer. He noted that IKEA has reduced its prices on hundreds of products in the new IKEA Catalogue to make it more affordable for many people to make small changes at home.

Opening an online store makes sense as more Filipinos learned how to shop online to stay safe from the pandemic.

The online store is expected to carry a wide range of IKEA home furniture.

IKEA PH artist impression

Months after the opening of its PH online store, IKEA will open its largest physical store in the world located at the Mall of Asia complex in Pasay City, Metro Manila next year. It is 65,000 square meters big or double the size of its usual branch.

Source: IKEA, Via: Manila Bulletin