Parag Parekh
IKEA Story: Transforming an Iconic Retail Brand
#1about 3 minutes
A personal story that defines the IKEA brand
A personal anecdote about receiving free replacement screws illustrates the company's deep-rooted customer care values.
#2about 2 minutes
A history of innovation in affordability and retail
IKEA's history is rooted in innovations like the flat pack and experiential retail to make home furnishings affordable and accessible.
#3about 2 minutes
Recognizing the need for digital transformation
The rise of the internet and smartphones forced IKEA to acknowledge it was behind and begin a fundamental digital transformation in 2017.
#4about 2 minutes
Reimagining physical stores for urban customers
IKEA is investing over three billion euros to move beyond large suburban stores and create new city-center formats like planning studios.
#5about 6 minutes
Building an omni-channel retail experience
The company's digital transformation focuses on creating a seamless omni-channel experience through a revamped website, app, and modern tech foundation.
#6about 2 minutes
Using augmented reality to innovate home furnishing
IKEA is launching a new augmented reality tool that allows customers to scan their rooms and virtually design their space with new furniture.
#7about 2 minutes
Building trust through transparent data privacy
The company prioritizes a simple and transparent customer data promise to build trust, while also focusing on ethical AI and algorithms.
#8about 2 minutes
Expanding into services beyond home furnishings
IKEA is expanding into new services like consumer banking, renewable energy, and circular economy initiatives to improve life at home.
#9about 3 minutes
Transforming technology and internal ways of working
The internal transformation involves shifting from monolithic applications to composable microservices and moving from waterfall to agile methodologies with in-house talent.
#10about 1 minute
Three principles for effective development teams
Development teams are guided by three core principles: focusing on business problems, prioritizing speed to market, and practicing aligned autonomy.
#11about 2 minutes
A future vision focused on being human-centric
IKEA's future vision expands from being customer-centric to human-centric, encompassing customers, co-workers, and a positive impact on the planet.
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