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Companies in the timber industry / Daily News / Global Trends / Market Analysis / Furniture / Wood Products / Europe / Global
September 26, 2019

IKEA reports record sales on booming online revenues

IKEA reports record sales on booming online revenues

IKEA reported annual sales above 40 billion euros ($44 billion) for the first time on Wednesday as the Swedish furniture group’s push into e-commerce produced another surge in online revenue.

IKEA was slow to embrace online services but since 2017 the world’s biggest furniture retailer has invested heavily to adapt to new shopping habits and competition from digital rivals such as Amazon and made.com.

In the 12 months to the end of August, IKEA said it sold goods and services worth 41.3 billion euros, a 6% rise from 38.8 billion last year including a 43% jump in online revenue to 2.9 billion euros. The addition of new stores also boosted sales.

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