Ikea: sales fall by 10% in South Korea

In the financial year ending August 31, 2022, Ikea‘s turnover decreased by 10% in South Korea.

This is the first time that sales have fallen since opening in 2014. Ikea’s sales reached US$444 million for the year, as consumers cut back on spending on home furnishings after the end of Covid-19 restrictions. “Given the sanitary situation and “revenge buying” backgrounds, and the issues of product availability, this is a result we are very pleased with,” said Fredrick Johansson, Retail D