IKEA announces growth in UK sales

19th December 2022 | Jack Oliver

IKEA has announced total sales of £2.2bn for the year ending August 2022, marking a 13% increase compared to the previous year.

The retailer says that it has continued to see a strong appetite from customers to invest in homeware post-Pandemic, both in-store and online.

IKEA’s total online sale have grown to 36% compared to 19% pre-Pandemic levels in 2019. However, consumers have increasingly returned to physical stores, with store visitation increasing by 34% compared to last year.

To take advantage of this, IKEA UK opened its first small store in Hammersmith, while also announcing the opening of a store on Oxford Street and new Plan & Order Points in the North West of England (in Aintree, Preston, and Stockport with more to follow).

Peter Jelkeby, country retail manager and chief sustainability officer, IKEA UK, said: “We saw consumers returning to our stores while online sales remained strong with high demand for a convenient shopping experience. To meet these needs, we opened our first small store on the high street, created new ways to meet customers remotely and in-store, and launched new ways to deliver orders.”

“A post-pandemic backdrop of increased living costs, supply chain challenges and macro-economic instability inevitably shaped our business in 2022”, he added.

“In the face of these changes, our long-term vision to create a better everyday life for the many people was our guiding compass for short and long-term decision making, and our results reveal the positive impact of this approach with healthy financial results representing our financial stability and resilience amidst great change.”


Looking for more retail news? you might find these interesting