Amazon and Temu raise pressure on the Swedish furniture giant Ikea

Ikea is facing what may be the toughest period in its more than 80-year history, as competitive pressure intensifies from global online platforms such as Amazon and Temu. The world’s largest furniture retailer is grappling with flat sales, rising timber costs and increasingly aggressive competition from digital marketplaces that have reshaped consumer expectations around price, convenience and speed. In response, Ikea has embarked on what it describes as the biggest transformation in its history, seeking to broaden its product range, bring stores closer to customers and significantly accelerate delivery times, according to Bloomberg. A sense of ...