Did Sweden invade China? Well, not really. But Ikea did.
The Swedish furniture giant opened its biggest Asian store in Beijing on Wednesday to capitlize on China's home improvement trend. The new Beijing store is Ikea's largest after its flagship in Stockholm.
Traditional Peking opera dancers performed outside the store before the official opening while throngs of shoppers were held back by metal barricades.
"Young people really like this 'do it yourself' style," commented one shopper.
The massive store includes 430,000 square feet of showrooms, a 700-seat restaurant, a 1,200-car underground garage and a grocery store stocked with Swedish food.
Sweden Invades China (with an Ikea in Beijing)
Sweden Invades China (with An Ikea In Beijing)
Trend Themes
1. Home Improvement Trend in China - The opening of Ikea's largest Asian store in Beijing demonstrates the growing demand for home improvement products and services in China.
2. Popularity of 'do It Yourself' Style - The enthusiasm of young people for the 'do it yourself' style presents opportunities for businesses to cater to this trend with innovative, user-friendly DIY products and services.
3. Expansion of International Retail Brands - The entry of Ikea, a well-known Swedish furniture giant, into the Chinese market indicates the increasing trend of international retail brands expanding their presence in China.
Industry Implications
1. Home Improvement Retail - The growing home improvement trend in China presents an opportunity for retailers to offer a wide range of products and services catering to this market.
2. DIY Products and Services - The popularity of the 'do it yourself' style creates opportunities for businesses to develop and market innovative DIY products and services.
3. International Retail Expansion - The entry of Ikea into China signifies opportunities for other international retail brands to enter the Chinese market and tap into its growing consumer base.