IKEA Korea reports a 32.6% surge in sales

by Administrator 8 replies
9



Despite the pandemic, IKEA's South Korea business saw a 32.6% growth in sales despite the impact of the pandemic. This growth is attributed mainly to an increased interest in home furnishings as people remained at home. Meanwhile, IKEA's online shoppers increased by 14% - again a change in consumer habits.

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#offline marketing #326% #ikea #korea #reports #sales #surge
  • Similar trends for Lowe's and Home Depot (both stocks a yearly highs), as well as businesses like Etsy. Huge interest in home decor/DIY right now.
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  • It is interesting to see which businesses are thriving in this mess. I called for a veterinarian appointment today and was told 'will be at least two weeks'.


    WHAT??? The woman explained many people at home have adopted pets - others are paying attention now to pets they have had for years...and the veterinarians are overrun with customers.


    Would never have thought of that. These 'sales' don't fit with the 'everyone' is broke' stories, do they?
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    • Interesting! Would never have guessed that, but thinking on it, it does make sense...

      Your post prompted me to check the stock trend for Chewy: sure enough it's up over 2X since quarantine began
    • When I hear "everyone is broke" I just say "I'm not"
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  • Chewy has the best pet product Autoship in the industry. My chewy monthly order is due to arrive tomorrow - usually about $90 per month for our autoship order. In fact walmart has just launched autoship for pet meds - has a long way to go to catch up.

    Autoship allows you to get all of your pet supplies without leaving home - prices are no more than in stores - free shipping over $50 or so. Not surprised Chewy is doing well....the promote autoship for a couple years and it was slow to catch on....but is big time now.

    The opportunities for business were for those involved in 'households' - replenishing supplies - making repairs - adding items or upgrades to the home - entertaining people/kids at home, making money from home, etc

    If you think about it after the fact - it makes sense but it takes a savvy business or entrepreneur to see that opportunity in the beginning.
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  • A friend of mine pointed out that the reason more people are making home improvements now is because we're streaming and video conferencing more. A green screen can cover a multitude of sins. But if you have a beautiful background, it shows you have it made.
  • I suppose nobody noticed this...

    But IKEA is Korean for KOREA.

    Nobody knew that, until now. I'm a very stable genius.
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  • hahah wow. Mind = Blown.
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