After years of customers pleading, begging and demanding that the Swedish retailer IKEA open a store in Las Vegas, the company finally relented and agreed to build one here. A 350,000 square foot store will open in the valley in 2016.
But are they doing it for the right reasons? Did they read the Las Vegas market wrong? Will their one size fits all style of business management succeed in Las Vegas?
Mark Anthony thinks they are doing Vegas wrong. That they are under estimating the Las Vegas retail market, always have. The approach that they are doing us a favor by being here will hurt sales as well as hurt future company growth.
Same Old Story
Expanding businesses that think because they are successful in other cities, that they can march into the Las Vegas market with the same business operating procedures they use in other cities and be successful in Las Vegas are setting themselves up for failure before they even open their doors. To think Las Vegas operates like Chicago, Miami or any other city of our size has killed more businesses moving here than the economy has..
The Ask Mr Mark Podcast #6 Mark Anthony will go over some of the reasons He thinks IKEA is under estimating the Las Vegas market (still) and why He thinks they will pay for it in lost sales and lost business opportunities.
If you are a business owner or want to open a business, listen to why IKEA is reading the local market wrong and learn what you can do by being better aware of your local market.
Listener Beware: Mark Anthony has never been one to sugar coat his thoughts or feelings…
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