Ikea\u2019s global sales increased 5.6% to \u20ac39.5 billion in its 2022 financial year and the UK was one of its top growth markets, as shoppers gravitated towards money-saving products.<\/p>\n
Tolga \u00d6nc\u00fc, retail operations manager at Ingka Group, which operates Ikea, told Retail Gazette that shoppers have been snapping up products that help them reduce their energy consumption amid soaring electricity and gas costs.<\/p>\n
He said: \u201cWith the circumstances the world is in, shoppers are looking for solutions that can reduce their energy consumption, water consumption, and food waste.<\/p>\n
\u201cOur customers are shopping smarter and looking for more affordable and more sustainable solutions by consuming less energy.\u201d<\/p>\n
Lowering prices<\/strong><\/p>\n Ikea\u2019s sales growth comes despite surging inflation, which has cut discretionary spend. However, growth has been stimulated by the retailer\u2019s efforts to keep its products affordable.<\/p>\n Ingka Group CEO Jesper Brodin said: \u201cBeing affordable is in our DNA and the key focus of our business \u2013 it has never been as important as now when we see an increasing cost of living.<\/p>\n \u201cOur primary aim remains ensuring that the Ikea offer always brings added value to our customers. We have always been there for the many people and through our dedication and hard work, we will continue to side with the many.\u201d<\/p>\n \u00d6nc\u00fc said that its efforts to up availability and improve supply over the second half had led to cost savings that it has invested into lowering prices and \u201ccreate even more affordable offers\u201d.<\/p>\n He said: \u201cIkea is all about offering as low prices as possible so as many people as possible can afford to buy our products. When it\u2019s possible, we look to decrease our prices to make them more affordable.<\/p>\n \u201cSince September we have seen the opportunity to do so in some of our markets and the response is immediate and very good from consumers.\u201d<\/p>","protected":false},"excerpt":{"rendered":" Ikea\u2019s global sales increased 5.6% to \u20ac39.5 billion in its 2022 financial year and the UK was one of its top growth markets, as shoppers gravitated towards money-saving products. Tolga \u00d6nc\u00fc, retail operations manager at Ingka Group, which operates Ikea, … Continue reading