Multinational retailer Ikea plans to open its first small-format store in Beijing to address changing consumer trends. This move comes after the company closed several large outlets across mainland China.

Multinational furniture retailer Ikea says it will open its first small-format store in Beijing on Thursday, aiming at convenience and efficiency that analysts believe could lift footfall by bringing the brand closer to consumers amid shifting trends. The move comes after the company shut seven large outlets across mainland China in early February, as it grapples with the country’s rapidly changing consumer trends and declining demand for new-home furnishing amid a sluggish property...