Placer.ai: Why Ikea will open its first Oklahoma store in its second-biggest market
The opening of an Ikea store in a new state is big news. Usually, the Swedish home furnishings giant ends up landing in the most populous city.
But that did not happen in Oklahoma, where Ikea will soon be opening a 51,000-sq.-ft. store at the Tulsa Hills Shopping Center in Tulsa, the state’s second-largest Core-Based Statistical Area next to Oklahoma City.
While populous states such as New York, California, and Illinois have seen residents departing, Oklahomans are gaining in number. Between 2023 and 2026, new state residents rose by 0.3%.
According to a new report from foot-traffic analytics provider Placer.ai, both OKC and Tulsa have benefited from the trend, though new Tulsa residents held a key advantage: fatter wallets.
Overall household incomes in Oklahoma City remain slightly higher than Tulsa’s as of now, but Ikea is betting that trend will not last, according to Placer.ai. Incoming households in Oklahoma’s second city earn about 7% more than their neighbors, compared to a 5% premium for new arrivals in the capital city.
“This differential points to a greater influx of higher-earning households in the Tulsa market--consumers who are more likely to drive discretionary spending,” said Placer.ai content manager Lila Margalit. “As they settle into new homes, these households often trigger immediate, high-value purchasing cycles, particularly in categories like home furnishings.”
Since 2024, year-over-year retail visits across Oklahoma have outpaced the national average.
At the metro level, both Tulsa and Oklahoma City have seen retail activity grow since 2023, but only Tulsa has consistently outperformed the U.S. benchmark. In 2025, it surpassed the state as a whole.
“The convergence of these factors – stronger migration, a more pronounced income uplift, and sustained retail outperformance – may help explain Ikea’s strategic choice,” noted Margalit.
