Small businesses advised not to panic over arrival of IKEA

Small busineses are being advised not to panic over the arrival of retail giant IKEA. The 34,000 square metre store is stocked with 7,500 unique products, with forecasts suggesting up to 20,000 shoppers will visit on opening day. Global IKEA sales topped $90 billion New Zealand dollars in 2024. So is this whale of a brand going to consume some smaller businesses? Managing director of business consultants First Retail Group, Chris Wilkinson spoke to Lisa Owen.