While the restriction of purchasing power for the working classes continues unabated, even shaking up the political landscape, Ikea's sales fell by 4% in value and remained sluggish in volume in the last financial year. While e-commerce has gained ground, the contribution of stores to the Swedish' mass-market strategy continues to lower.
The world’s largest furniture retailer by sales, Inter Ikea Group (which has 12 franchisees including Ingka, malls and services) published annual results for the financial year ending August 31, 2024. After increasing by 7.3% at constant rates in 2023, sales fell by 4% this year to €45.1 billion. The group explained this trend by price cuts and constant volumes. “In 2024, we have significantly lowered our prices in our 63 countries, making Ikea more accessible to as many people as...
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