The number of U.S. store openings may be at its lowest level in six years, but IKEA’s expansion pattern this year shows retailers are not retreating from physical space. They are changing how they use it.
In July, IKEA led the retailers tracked by Coresight Research in net square footage announced, with an estimated 1.2 million square feet associated with its store openings and planned openings. Publix followed at 756,000 square feet. Through July, Coresight tracked three IKEA Plan and Order Point locations, six city-format stores and five traditional large-format stores.
John Mercer, head of global research at Coresight Research, says IKEA’s activity may not translate neatly to large-format retailers as a whole, since that group can include many formats across a range of sectors and categories. More important, he notes, IKEA’s new space is not limited to its traditional large-format stores but spans a variety of store formats.
Other retailers are also tak
