Zach Honig, a former editor at PC Magazine, writes a Blog called Tech, Travel and Tuna.
While in Beijing, Honig remembered a piece he read in the LA Times about Beijing residents loving IKEA but not for shopping. Curious, he visited the IKEA in Beijing and saw how popular IKEA is in a snoozy sort of way.
In fact, I sympathize with the Chinese snoozers. Have you ever slept on a “hard” Chinese bed?
Love after the first bite.
Honig also mentioned that he ran into China’s Net Nanny since he couldn’t access his WordPress Blog, Twitter or Facebook, which includes anarchists scheming to bring down orderly societies. There is some truth to that.
Meanwhile, the IKEA snoozers have not slowed expansion plans in the Middle Kingdom since IKEA plans to double the number of stores in China to 18 by 2015.
The current eight IKEA stores in China are predicted to draw 27.3 million visitors (or should I saw snoozers) this year. IKEA also owns a 49% share of Inter Ikea Centre Group that builds shopping centers and is planning to spend about 1.5 billion to build more malls in China. Source: Financial Post
Bargains at IKEA Shanghai store
The reason for IKEA’s investment in China is due to retail sales that rose 18% the first eight months of 2010, compared to a sluggish annual increase of 2.5% for retail sales in the US.
Another factor is the Chinese save then pay cash for most of what they buy. It is estimated that Chinese households have accumulated $16.5 trillion (valued in US dollars) in assets.
Don’t forget to drop by Zach Honig’s Blog and see his photos of snoozing IKEA fans in Beijing. The link is at the top of this post.
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