Why people stopped shopping at IKEA At its peak, IKEA was selling nearly €48 billion worth of merchandise a year across more than 460 stores around the world. The company was so dominant that it sold one of its iconic BILLY bookcases every five seconds. But recently, something changed. Revenue started shrinking for three years in a row, profits dropped by a third in one of those years, and IKEA began doing something that once seemed almost unthinkable: closing stores. So what’s happening to one
17:51
Why people stopped shopping at IKEA At its peak, IKEA was selling nearly €48 billion worth of merchandise a year across more than 460 stores around the world. The company was so dominant that it sold one of its iconic BILLY bookcases every five seconds. But recently, something changed. Revenue started shrinking for three years in a row, profits dropped by a third in one of those years, and IKEA began doing something that once seemed almost unthinkable: closing stores. So what’s happening to one
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Ikea rolled out a new AI bot to field thousands of customer service questions every day, but what became of the 8,500 employees who once handled those roles? Instead of cutting jobs, the home furnishing giant chose to retrain and redeploy its workforce. Fortune Leadership Editor Claire Zillman traveled to Malmö, Sweden, to take a closer look at Ikea’s upskilling strategy. Click the link in bio to read the full story in Fortune magazine. #Ikea #retail #AI #business #tech
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