The RETAIL GIANT, IKEA, initially established in Sweden in 1943, has since grown into ađŸROSSIVE chain, with its UK branch first opening in Warrington, Cheshire, in 1987. The company has faced a series of decisions that have significantly impacted its operations, including the sudden announcement of a store closure. The first Plan & Order Point store to operate was at Aintree Racecourse Retail Park in Liverpool on December 2022, marking theChainâs first âtest and trialâ format. This smaller store was dedicated to home furnishing advice, but its closures reflected stricter demand for Click and Collect services and reduced savings on home furnishings. The company has also addressed the Londonâs Simplified Shopping System drive, which allowed for limited space for Key Items.
Today, the next selling point to close is the Olok Plan and Order Point store in Warrington, marking the removal of all Click and Collect options from all stores. The remaining UK Plan & Order Point locations include plans for small stores in Dundee, Hull, and York, along with a new Olok new store in Chester. These future initiatives aim to improve customer service and provide more tailored planning assistance. At the same time, the brand is investing in sweeping its presence by opening a new hotel in the Canary Islands, offering affordable yet high-quality homeware.
The broader picture of the retail sector offers challenges for operators: according to the British Retail Consortium (BRC), up to ÂŁ23 billion in funding will be needed to address the tax increases from April. The minimum wage hike further complicates an already struggling sector, with certain aged workers facing additional pressure. The Centre for Retail Research (CRR) has predicted that 2024 will be the year for the largest decreases in retail job losses compared to five years prior, with up to 202,000 jobs potentially being lost. This trend continues past 2025, presenting a bleak outlook for some retailers.
