Ikea marks growth in turnover and consumer spending | RetailDetail

Ikea marks growth in turnover and consumer spending

Ikea marks growth in turnover and consumer spending

Swedish furniture manufacturer Ikea managed a 3 % turnover increase in its fiscal year 2014 (1 September 2013 - 31 August 2014), up to 28.7 billion euro with China as its largest growth market.

Online and offline growth

 

Ikea would have had a 5.9 % turnover growth in 2014 if exchange rate fluctuations are ignored, while the branch's average growth only reached 3.6 %. "The IKEA Group keeps growing and I am happy to see an increased growth in all our sales channels; in existing stores, in the opening of new stores and online. Our sales development shows that people all over the world appreciate our great home furnishing products at affordable prices", Ikea CEO Peter Agnefjäll said.

 

Ikea managed to grow in nearly all markets, with China as its largest growth market. North American and European results were also satisfying, with growth both offline and online. "We have a clear multichannel strategy. We are becoming more accessible by continuing to improve our existing stores, by opening new stores and by expanding our e-commerce service and in-store-pick and delivery service."

 

Agnefjäll thinks Ikea still has plenty of room to grow in the future. "We are still small in many markets, we have a strong business model and a fantastic team of dedicated co-workers."

 

Ikea will reveal its full numbers in January 2015.

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