NETHERLANDS -  Total Ikea retail sales amounted to EUR 44.6 billion in FY22, an increase of 6.5% compared to FY21.

In FY22 Ikea store sales grew 13% compared to FY21, when many stores were closed due to the pandemic. Overall, they welcomed 822 million visitors in FY22 compared to 775 million in FY21. Store sales grew mainly in Europe, where FY21 lockdowns were most severe. At the same time, online sales were 10% lower compared to FY21, though they stabilised at a higher level this spring. Ikea online channels hosted 4.3 billion visitors, down from 5 billion last year.

The pandemic limited growth in FY21, and Ikea retail sales benefited as the world re-opened. On the other hand, inflation and supply chain issues impacted FY22 sales, and lead to rising costs and higher prices. That means sales have grown in money, but sales quantities have not kept up. In addition, supply chain shortages made it difficult to keep Ikea shelves full.

“Ikea prices remained relatively stable for several years. That gave us an advantage when competitors raised prices early in the pandemic. Unfortunately, we can’t ignore surging raw material and transport costs. Long-term, we remain committed to affordability for the many people around the world”, says Inter Ikea Group CEO Jon Abrahamsson Ring.

In contrast to these scale-down activities, Ikea opened retail operations in new markets, including the very first Ikea store and online channel in South America. Ikea Santiago de Chile opened on 10 August, and South American expansion will continue with Colombia and Peru during the coming years. The Philippines also became a new Ikea market, and the first Ikea stores in Estonia, Puerto Rico and Oman opened their doors for the first time. In total, 38 new Ikea sales locations opened around the world in FY22.

The Ikea financial year runs from 1 September to 31 August. Total sales include sales of IKEA products, food and services by the 12 Ikea franchisees.