Ikea is a global brand that has diversified tremendously since its inception. The company has grown from selling hand-painted furniture to an industry leader in home furnishing, with more than 400 stores worldwide in 63 countries. IKEA also has an online store where people can buy everything from bed frames to children’s furniture. It is best known for its premium-quality furniture at an affordable price. In this article, we’ll explore 14 interesting statistics about how the company got started and how it’s evolved into one of the most successful brands on earth today. Let us know ‘IKEA Statistics’.
IKEA overview and growth statistics
At the age of 17, Ingvar Kamprad started IKEA in 1943. He is the tenth richest person in Europe and is estimated to be worth around $58 billion. The word “IKEA” statistics shares an exciting story as well. I-K-E-A is represented as follows:
- “I and K” stand for the initial letters of Ingvar Kamprad.
- “E” stands for the name of the farm where Kamprad was raised.
- “A” represents the final letter of Ingvar Kamprad’s hometown, Agunnaryd.
The first IKEA store debuted in lmhult, Sweden, in 1958. In 1963, Norway became the first country where IKEA operated outside Sweden.
IKEA received the 2017 Forbes magazine “Most Innovative Company” award and was named one of the “Top 10 Most Valuable Brands in 2019” by Brand Finance in honour of this success story.
IKEA has grown by 3% over the past year, reaching revenues of €38.8 billion (2018). This represents a 3% increase over last year’s earnings of €36 billion ($42 billion). The company’s total sales have also increased by 18% since 2014.
Store statistics
- IKEA stores attract more than 900 million visitors annually.
- As of September 2022, there are 474 IKEA stores in over 64 markets worldwide. Seventy stores are in North America, 78 are in Asia, and 278 are in Europe.
- IKEA’s three biggest markets are the US, France, and Germany, with over $1 billion each in sales in 2018. Around 15% of the retail sales of IKEA come from Germany, 13% from the USA, 7% from France, and 5% from China.
- Germany, where IKEA first opened its doors in 1974 in Munich, is now the company’s biggest market. More than any other nation, Germany boasts the most Ikea stores. Overall, 53, with 4 in Berlin.
Product statistics
- IKEA has 9,500 types of products, and almost all of them have names derived from the Swedish language. Additionally, you will discover that every stock item has the same name, regardless of the nation you locate it in. This makes inventories simpler and streamlines international business processes.
- Nearly 1% of the global population has an IKEA Billy bookcase in their home. IKEA sells one Billy bookcase every minute, on average.
- Not merely because the products are enticingly inexpensive, but the in-store food courts at IKEA are also quite affordable for customers. The price for their famous Swedish meatballs with sides is approximately $5.99. According to reports, they supposedly serve 10,000 meatballs per hour in their restaurants all over the world. Interestingly, the affordable price at their food court holds a hidden meaning, as the company’s founder predicted that well-fed customers enhance sales.
Employment statistics
- The number of IKEA employees has increased along with the number of IKEA stores over the years. Nearly 220,000 people worldwide were employed by IKEA in its shops, distribution centres, and other sites as well.
- IKEA provides its employees with a wide choice of benefits in addition to fair wages and comfortable working environments. Employees have access to a 15% coworker discount beginning on the day they start. Additionally, IKEA employees are entitled to paid parental leave, pet insurance, and special lunch deals. The annual average salary at IKEA is $30,000.
- Around 10,000 vehicles worldwide assist IKEA’s delivery services. There isn’t a set quantity of delivery vans and trucks servicing the US, as IKEA doesn’t have its own fleet.
Conclusion
We hope you’ve enjoyed learning about Ikea and its incredible story. We think it’s a great example of a brand that has diversified, changed with the times, and successfully adapted to new trends by using its knowledge of customer behaviour to create new products that meet people where they are now. With 445 locations in numerous nations and plans to establish more in the upcoming years, IKEA is one of the world’s largest and most well-known retailers. Despite this ongoing desire to grow, the company continues to be dedicated to environmental initiatives, focusing on employee welfare and providing high-quality, reasonably priced furniture to its millions of customers.
FAQs
Who founded IKEA?
Ingvar Kamprad founded IKEA on July 28th, 1943.
What is the net worth of IKEA?
As of 2021, IKEA holds a net worth of about $18 billion.
Where is the biggest IKEA store?
IKEA opened its world’s biggest store in the Philippines, measuring a whopping 730,000 square feet.
