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18 Jun 2024, Edition - 3262, Tuesday

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Swedish furniture giant IKEA opens store in India with shocking sales record in just 2 days



IKEA the Swedish furniture giant’s vigorous marketing campaign drew a shocking response. India’s first store set up in Hyderabad grabbed a whopping business target, with 40,000 people rushing to the store on the very first day of the launch.

Swedish furniture giant, IKEA set its footsteps into the Indian market with the outstanding fountainhead of affordable products. Telangana’s capital Hyderabad as the first operating joint, the firm stepped into the business after having surveyed around 800 homes in India. Keeping the typical Indian household into consideration, the Swedish firm succeeded in drawing everyone’s attention.

With the heavy crowd visiting the IKEA store on the very first day, the day-1 business of the furniture giant is just mindblowing. Goods worth Rs.1 crore were sold on the very first day of IKEA’s inaugural. An interesting fact related to the day-1 sales of Ikea was that the customers had purchased mattresses worth Rs. 30 lakh.

The day-1 sale marks a milestone for the Swedish furniture giant as well as Indian consumers. On the other hand, Children Ikea is in the category of the most-sold category of Day-1 sales survey.

The enormous crowd at the store created bewilderment to the storekeepers, the traffic police as well as the passers-by in the area. The traffic police of Hyderabad had to issue special advisories regarding the parking problem too.

There were several viral messages forwarded on the social media groups and witty comments made on the typical Indian attitude to rush for the sales.

While the Day-2 sales are estimated to be more than the day-1 sales, it is expected that the business margin would cross Rs.3 crore. The day-2 collections marked the sale of Rs. 2.4 crore after lunch on Friday, with a more potential in the weekend following.

It is expected that the weekend would increase the sales and extra care is being taken by the store managers of IKEA to avoid any unwarranted incidents or stampede.

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