Ikea tipped to grab bigger slice of New Zealand retail market, rivals brace for impact

Ikea tipped to grab bigger slice of New Zealand retail market, rivals brace for impact
Inside the main entrance to Ikea's new store in Sylvia Park, Auckland. (Image: NZME/Annaleise Shortland)
Jaime Lyth
Analysts are tipping that Ikea's impact on the New Zealand retail market could be as vast as its 34,000-square-metre store set to open in Auckland this week.Forsyth Barr analyst Paul Koraua said before Thursday's opening that he now expects the Swedish retailer to generate more than $191 million in sales, or 6% of the market.Ikea Australia and NZ chief executive Mirja Viinanen said it was hard to estimate sales opening a store in a new market during the Christmas period, but said 6% sounded more or less right.Get up to date fast. Join B...

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