Furniture trade
Ikea records loss of sales in its anniversary year
After the boom during the Corona period, the furniture trade is having a hard time. This doesn’t go unnoticed by the market leader from Sweden either.
The furniture retailer Ikea suffered a 4.3 percent loss in sales in its 50th year of business in Germany. However, revenues of 6.16 billion euros still represent the second strongest year in the German market, which the Swedes continue to lead. The company cites high inflation, rising interest rates and subdued consumer demand as reasons for the decline in the 2023/2024 financial year (August 30).
Globally, the furniture retailer also reported a decline of 5.3 percent with sales of 45.1 billion euros and attributed this largely to price reductions for important products. Germany remains the largest of 63 international markets for Ikea. In the future, the trading company wants to improve its accessibility on all sales channels, increase its sustainability and offer affordable prices.
Online growth at Ikea – customer decline in branches
In Germany, Ikea now generates around a quarter of its sales via the online channel. The number of visitors here increased by 15 percent to 252.6 million compared to the previous year, more than in the stores, which had 79.5 million visitors. That’s a decrease of 2.9 percent.
The average receipt per purchase online was 217.31 euros, almost twice as high as in stationary stores (108.98 euros). The food range Ikea Food, which had grown by more than 30 percent in sales in the previous year, now stagnated at 266 million euros (-0.6 percent).
Ikea Group financial figures 2023/2024
dpa
Source: Stern
