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Given Ikea's propensity to build near existing upscale shopping clusters, a location near Streets at Southpoint in Durham fulfills that and is centric to the entire CSA plus conceivably the Triad at just over an hour away if an intention.
I still think that they'd revisit where they were previously slated to open a store. While Epic Games purchased the former Cary Towne Center after Ikea's exit from its earlier commitment, Fenton has risen literally across the street. FWIW, Fenton is an upscale outdoor shopping district that has plans to expand throughout the decade.
Keep in mind that the Charlotte store serves the entire Carolinas, especially since all the major population centers in both states are 4 hrs or less from CLT
The Piedmont Crescent from Charlotte to Raleigh now houses nearly 7 million people. If we compare that to markets of similar size like Miami, it's easy to see Ikea making a second play in Piedmont NC. In the Miami metro, there are stores in the side by side counties of MiamiDade and Broward.
Could u imagine if Walmart or Target adopted the Ikea business model.. only one store to service 3 or 4 surrounding cities!! I still can't wrap my head around how Ikea's business model helps them.. wouldnt more locations maybe even smaller stores help them turn a profit?!?
Could u imagine if Walmart or Target adopted the Ikea business model.. only one store to service 3 or 4 surrounding cities!! I still can't wrap my head around how Ikea's business model helps them.. wouldnt more locations maybe even smaller stores help them turn a profit?!?
I agree. They would reach more customers. Maybe their thinking is to create their stores into destinations to create demand I don't know. But even if they open smaller footprint stores for smaller markets and offer more exclusive products at the larger stores
Could u imagine if Walmart or Target adopted the Ikea business model.. only one store to service 3 or 4 surrounding cities!! I still can't wrap my head around how Ikea's business model helps them.. wouldnt more locations maybe even smaller stores help them turn a profit?!?
You do know you could fit 3 average sized Walmart stores inside the IKEA in Charlotte . IKEA isn't selling high end products & when you have stores that big they need to generate a ton sales to make them profitable.
Yes I know how big Ikea is , I have been there. I still don't see why they don't go with smaller foot print stores . I'm sure they could be the size of the "At Home" store on Wendover and be just fine!
Presently Charlotte csa is 2.9 mil, Triangle csa is 2.1 M, Triad csa is 1.7 M, Green-Spart csa is 1.5 M, and Charleston does not have a csa but it’s MSA is 800K. The question is where to put a store or two stores to accomodate these areas? I do think the Triangle gets one that also serves eastern NC. But where does a store go to serve the 5 million people in SC? I think these people have to be served before the Triad. And Myrtle Beach is the fastest growing MSA in the Carolinas by percentage growth. It has a population of just over 500K. If IKEA decides it needs another store to serve SC, where does it go? It can’t go in Green-Spart because it is too far west to serve the state. But Green-Spart has the largest population in SC. Would it go in Columbia? Or would it go in South Charlotte? I think this dilemma may prevent a store in the Triad.
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I still don't see why they don't go with smaller foot print stores . I'm sure they could be the size of the "At Home" store on Wendover and be just fine!
