IKEA has announced a new limited edition PS (Post Scriptum) 2014 line designed for the new urban hipster. This new line was derived from an IKEA-commissioned market study that identified 1 in 5 of urban dwellers now live in a space smaller than 323 square feet. The collection is also designed around the "on the move" principal, which allows for all each piece of the 51-strong collection to be easily transported.
"We were thinking about the needs of the young urban generations that often forgo space to follow their dreams in the big cities," said Gemma Arranz, interior design manager for Ikea UK and Ireland.[i]
Why this is important for us is that the collection is designed to be transported by foot, bike or public transit and not by vehicle.
This concept speaks to the millennial data we have been listening to for years but never paid much attention to. After all, worrying about the next generation of buyers is a distraction from hitting this month’s sales target, right?
As a millennial myself (very top-end) I can confirm that we are on the move, but in line with IKEA's new collection, we are too broke to move out of our rented basement apartments. In fact, looking around my close circle of friends, I can count on one hand how many of us own our own vehicle. None of them were purchased new, and almost all are over 6 years old. What is more alarming is that less than 60 percent of my fellow urbanites have a driver’s license, let alone their own set of wheels.
Now, to be fair I do live in downtown Toronto, where even our flawed public transit system can handle the majority of day-to-day transportation. However, it doesn't change the fact that is just over the horizon: millennials will be a challenge sooner than later.
IKEA is heading down the millennial road right now, other major brands and industries are soon to follow. What are we doing as an industry to compete? Just look at the commercial they released to promote this new line. Notice anything missing?
[i] Dezeen Magazine, 2014 - http://www.dezeen.com/2014/03/13/ikea-reveals-space-saving-ps-2014-furniture-collection/
Robert Karbaum arguably has the best name in the automotive industry. His combined experience over the past decade in E-Commerce and the automotive industry has allowed him to master the art of “AutoSpeak”; the ancient language that bridges the gap between internet geeks, the showroom floor and everything in-between. He manages the E-Commerce, Social and Digital Marketing operations at Weins Canada Inc. (formerly Don Valley North Automotive Group); a prestigious automotive group in Canada which includes the #1 volume Toyota and Lexus dealerships in the country.
Catch him on Twitter (@karbaum) or DroppinBaums.com.