IKEA is opening an “inner-city” shopping experience on London’s iconic Oxford Street.

IKEA is opening an “inner-city” shopping experience on London’s iconic Oxford Street. As young consumers grew obsessed with improving their homes during the pandemic, IKEA saw a major boost in sales, which has prompted the mega home retailer to rethink its strategy away from big box stores on the edges of urban areas and toward ecommerce and smaller inner-city brick and mortars. One of the first of these new stores opened in Vienna this year, and the next one is set to arrive in London’s central shopping area in 2023. Young consumers have long been fans of IKEA’s affordable and stylish home goods, and the retailer ranks second on young Europeans’ list of top brands across industries. It’s new format is designed to make shopping even easier for these young consumers. (Reuters)