Dec 03 2019

Ikea Germany increases online revenues

The trend towards digitization is not stopping at Ikea either. Although the furniture group is pointing in the direction of overall growth, Ikea's growth is not yet over. But especially in the online business, the Swedes were able to grow significantly. 

According to the company, online sales in Germany increased by 33.2 percent to EUR 494 million in fiscal year 2019. The online share of total revenues amounted to 9.4 percent, which is two percent more than in the previous year.  
 
Purchases in the over-the-counter retail sector declined slightly in Germany. Around 50 million customers made purchases in one of the 53 furniture stores in Germany, 5.1 percent fewer than in the previous year. However, they spent an average of 99.97 euros, 11.2 percent more than in the previous year. In addition, three million people (plus 50.3 percent) made purchases on the Internet for an average of 163.64 euros (minus twelve percent).  

Mixing of online and offline channels  

Dennis Balslev, Managing Director of Ikea Germany: "In summary, fewer people have bought more in our stores. During the same period, more customers bought online, sometimes while they were at Ikea." This trend clearly demonstrates the undisputed importance of furniture stores and shows that customers no longer distinguish between online and offline channels. 
 
Overall, Ikea was able to increase its market share in Germany to 8.4 percent. Measured against Ingka's worldwide retail sales of 36.7 billion euros (plus five percent), Germany remains the largest market with a 14 percent share of total sales, followed by the USA and France.  

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