New Oak Creek Ikea store could benefit economy

Posted at 6:37 PM, May 03, 2016
and last updated 2016-05-03 19:37:15-04
IKEA's first Wisconsin store will offer the community more than just a shopping experience.
A local marketing professor calls the Swedish store a retail destination --- a destination that could benefit Southeast Wisconsin's economy by drawing in shoppers from across the state. 
"We are going to draw people from Madison, we are going to draw people from Green Bay, as well as people from Northern Illinois from which they are going to spend a day at IKEA shopping and having a really positive experience," says Felicia Miller, Marquette University, associate professor of marketing. 
According to Miller, the Swedish retailer is an experience with its restaurant and family friendly, low-cost atmosphere.
Every year the chain sells 150 million Swedish meatballs and its cheapest item, a dog dish for 29 cents. If you're hungry for breakfast and on a budget, you're in luck. The average cost at IKEA, 99 cents. 
"The demographic of IKEA skews a little bit young, they really cater in terms of their products to young professionals, college students that kind of demographic," says Miller.
The people who tend to buy from IKEA are young professionals, so businesses nearby should also see a boost. 
"So I think your general population restaurants are going to benefit from this as well as other retailers who are trying to reach that demographic," Miller says. 
She also says don't be surprised if you see a mid-range retail clothing store like the Gap or Macy's pop up nearby. And more restaurants as well. 
An official announcement on IKEA locating in Oak Creek is not expect to come until Thursday.