In its 2022 Annual Summary, Ikea highlighted the company’s initiatives to address customers in new ways while taking care of people and the planet, even as it reported a small sales gain.
Covering the fiscal year from September 1, 2021 to August 31, 2022, the report outlines how Ikea U.S. increased total sales despite global supply chain challenges and inflation and amidst rising costs and supply challenges. Ikea did so while keeping affordability and accessibility at the center of its thinking, the company noted. In addition, for the fiscal year, Ikea had an 18.8% increase in e-commerce sales, delivered five million orders and sold 40.9 million meatballs, the company pointed out.
Along with the Annual Summary, IKEA U.S. shared details on its equity efforts for the first time as the company continues its commitment to being an open and equitable workplace. This data will allow the public to track the company’s progress toward creating a more equitable workforce and is representative of the communities it serves, Ikea stated.
Highlights from the FY22 Annual Summary include:
- Generated $5.93 billion in total sales, including food and services
- Drew 69 million visitors to stores and 494 million visits online
- Improved customer experience as a true omnichannel retailer by augmenting online shopping and adding new in-person retail locations including two new IKEA Planning Studios in Arcadia and Long Beach, CA
- Unveiled Ikea Kreativ, an AI-powered digital smartphone function assisting customers as they design and visualize their living spaces.
- Raised starting wages to a minimum of $16 per hour and provided enhanced benefits
- Supported more than 280 non-profit organizations through in-kind or cash contributions and co-worker engagement volunteering activities
- Advanced equity and inclusion by publishing data as a first step towards transparency
- Enlisted strategic partners Accenture to help benchmark and collect data across all stores and units, and Vantage Point to train more than 400 leaders on anti-racism and inclusivity
- Launched ultra-fast public EV charging stations at 25 locations across the U.S. and home solar solutions at select California stores
- Expanded the Buy Back & Resell service to 37 stores year-’round, allowing Ikea Family members to sell back gently used Ikea furniture
- Hosted One Home, One Planet event with more than 70 thought leaders from across industries and sectors to spark action and co-creation in response to climate change and inequality
“Our position as the leader in life at home allows us to evolve, grow and thrive. That’s why Ikea U.S. is proud of the growth we achieved this year with the support of our co-workers across the country,” said Javier Quiñones, CEO and chief sustainability officer, Ikea U.S. in introducing the annual summary. “As we continue to embrace our vision of creating a better life for many people, affordability continues to be a key cornerstone for us at Ikea.”
Worldwide 389 Ikea stores operate in 32 countries, including 52 in the U.S.