Ikea Switzerland achieves record sales in 2022/23
Published: Monday, Nov 20th 2023, 12:00
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Ikea Switzerland achieved record sales in the 2022/23 financial year that ended in August. Revenue increased by around 10 percent to 1.28 billion Swiss francs compared to the previous financial year, as the Swiss subsidiary of the furniture giant announced on Monday.
The company thus exceeded its record result from during the pandemic (2020/21) by 4 percent. The online offering and office inventory in particular were in demand in the past financial year, it said.
According to the figures, online business accounted for a total share of 25.7%. Compared to the previous year, this segment has thus grown by a good 10 percent. The business-to-business segment, which focuses on furnishing the business premises of SMEs, also grew by 11%.
The growth shows that companies are increasingly opting for affordable furnishings, Ikea wrote in the press release.
Ikea cuts prices
The company also announced its intention to reduce prices in the new financial year. Since September 2023, 400 products such as beds and sofas have already been on offer at lower prices, and just as many are to be reduced in the coming months, according to the information provided.
Ikea opened its first store in Switzerland 50 years ago. Today, the furniture store has 9 branches across Switzerland. Another one is due to open in Valais in spring 2024. The company employs around 3,300 people in Switzerland.
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