Ikea retail sale grows 5.7% to EUR 41.7 billion

Ingka Group on Thursday announced the share of Ikea retail sales of EUR 41.7 billion for the financial year 2023 (September 1, 2022 - August 31, 2023), an increase of 5.7 per cent, as against EUR 39.5 billion in FY22. Home furnishing inspiration and acceleration in investments into digital, new and existing stores has led to seven per cent increase in store visitation - 697 million visits in FY23, a growth of 7.4 per cent, compared to 650 million visits in FY22 and, online share to 26 per cent, as against 25 per cent in FY22.

The company also announced that it is accelerating its investment in some of its biggest markets, where more than EUR 4.5 billion will be invested in the US, UK, France, and Spain alone, towards improving customer experience and delivery services.