Ikea sales fell for the first time since the pandemic; now it’s setting up stores in Best Buy
The two retailers are teaming up on a new “shop-in-shop” concept in the US.
Ikea, a go-to retailer for anyone looking to deck out their new place with affordable, flat-pack furniture, has found a new home itself, with the Swedish brand and Best Buy announcing a new “shop-in-shop” collaboration in 10 Best Buy stores across Florida and Texas.
Not so DIY
Per the brands’ vision statements, shoppers will be able to explore 1,000-square-foot showrooms displaying “inspirational” Ikea kitchens and laundry rooms, where they’ll be able to imagine and integrate Best Buy’s tech appliances. With Best Buy’s sales having slumped for the last three years on the bounce, as Bloomberg reported, the move comes at a tough time for the consumer electronics company, though it’s not all sunshine and meatballs at Ikea, either.
Last year, Ikea sales fell for the second time in 20 years — the only other instance being in 2020, when the pandemic stopped customers from making pilgrimages to Ikea locations to see BILLY bookcases in person and sample the Swedish delights at their in-store restaurants. The 2024 revenue drop came after the world’s largest furniture seller discounted a range of thousands of items at an average rate of 10%, having previously raised prices on pandemic-era supply issues.
Surely we haven’t seen peak Ikea, have we?
