The Swedish furniture and home goods chain said Monday that it was considering shutting its store in the Yangpu district of the city in response to changing shopping patterns during the pandemic.
“In order to better meet consumers’ growing demand for online consumption and services, as well as the further preference for convenient delivery accelerated during the epidemic, Ikea China will introduce customer touchpoints in the Shanghai market,” it said in a statement posted on WeChat.
“However … Ikea China has conducted a comprehensive analysis of the long-term feasibility of Yangpu Store, and is considering not retaining it,” it added.
In April, Ikea closed its store in the southwestern city of Guiyang just two and half years after it opened. Sales in the region would be handled on online channels, the company said at the time.
Airbnb also plans to take down all its listings in the country and concentrate instead on outbound travelers. The company made the decision because of mounting costs that were worsened by Covid-19.
— CNN Business’ Michelle Toh contributed to this report.
Quoted from Various Sources
Published for: WATPFC