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.
“I’m not sure there is a simple read-across from IKEA to large-format retailers in general, given that can include a number of formats across a range of sectors and categories,” said John Mercer, head of global research at Coresight Research, in an interview with IREI. “Importantly, IKEA’s new space is not just its traditional, large-format stores — it reflects a diversity of store forma
