Lecture Notes: IKEA's Expansion Plans in India

Introduction

• IKEA is expanding its offerings in India beyond furniture.
• Focus on providing a holistic home experience.

New Offerings

• Sleep Solutions: Addressing common sleep issues in India.
  • Focus on more than just mattresses.
  • Importance of comfort, pillows, and other elements for better sleep.
  • Aim to enhance bedroom experience holistically.
• Fitness & Design Inspiration:
  • Encouraging a comprehensive approach to home life.

Revenue Expectations

• Bedroom-related products are significant for IKEA in India.
• High hopes for increased customer base and satisfaction through holistic bedroom solutions.

Integration of AI

• AI integration in manufacturing and shopping apps.
• New AI Tool: Creative
  • Helps customers design their rooms.
  • Scan rooms, remove unwanted furniture, paint walls.
  • Facilitates easy planning and ordering.

Pet Product Range

• New collection for pets recognizing them as family members.
• Includes items for dogs and cats.
• Launched in India to cater to pet owners.

Food Menu and Festive Collection

• Sprucing up of the food menu.
• Limited edition home furnishing range for the festive season.
• Aimed at attracting more consumers to both stores and the app.

Conclusion

• IKEA's multifaceted approach is intended to enhance customer experience.
• Expansion into new categories aligns with consumer needs and market trends.