Designing the Future: IKEA's Digital Transformation Journey

In episode 835 of CXOTalk, host Michael Krigsman talks with Parag Parekh, Global Chief Digital Officer at IKEA Retail (Ingka Group), to discuss the company's ongoing digital transformation. Parekh shares his insights on how IKEA is leveraging technology, data, and a customer-centric approach to revolutionize the retail experience and adapt to the changing consumer landscape.

From implementing AI-powered solutions to enhancing omnichannel capabilities and upskilling employees, Parekh offers a comprehensive look at IKEA's journey to becoming a digital-first organization. He also delves into the challenges and opportunities of driving innovation in a large, global company while staying true to its core values and mission.

Key highlights:

• Discover how IKEA is using AI and data analytics to optimize operations, personalize customer experiences, and drive business growth.
• Learn about IKEA's omnichannel strategy and how the company is integrating digital and physical touchpoints to create seamless customer journeys.
• Understand the importance of digital ethics and responsible AI implementation in maintaining customer trust and aligning with organizational values.
• Gain insights into IKEA's approach to employee upskilling and fostering a culture of innovation to support digital transformation efforts.\
• Explore real-world examples of IKEA's innovative projects, such as IKEA Kreativ, and their impact on the customer experience and business outcomes.

Parag Parekh is the Chief Digital Officer at IKEA Retail (Ingka Group). He has the responsibility for developing digital capabilities and accelerating the digital transformation of the business. Parag joined Ingka Group as Chief Technology Officer, Group Digital, in 2021 and has more than 20 years of technology experience working for global companies.

Prior to IKEA, Parag held senior roles at Adidas with responsibilities for omnichannel transformation, ecommerce, and product engineering. He also spent several years as Senior Program Manager and as part of the leadership program at General Electric (GE).

An engineer by trade, Parag also has a Master’s in Business Administration (MBA), Information Technology from Narsee Monjee Institute of Management Studies (NMIMS). He is also a graduate of the Executive Development, Business Administration and Leadership program at Harvard Business School.

Michael Krigsman is an industry analyst and publisher of CXOTalk. For three decades, he has advised enterprise technology companies on market messaging and positioning strategy. He has written over 1,000 blogs on leadership and digital transformation and created almost 1,000 video interviews with the world’s top business leaders on these topics. His work has been referenced in the media over 1,000 times and in over 50 books. He has presented and moderated panels at numerous industry events around the world.