When you say IKEA, nearly everyone knows you’re talking about the furniture store. Everyone who’s gone furniture shopping at one point in their lives has heard of the global retailer giant, which single-handedly created a new standard in furniture shopping and production.
The company is best known for manufacturing high-quality products at surprisingly low prices with a heavy accent on sustainability. These techniques and principles made the Scandinavian brand not only the top furniture retailer on the planet but catapulted it among the most successful brands in the world.
As such, these IKEA facts and stats aim to show our readers what makes the company such a huge success.
The Most Notable IKEA Facts and Statistics You Need to Know About in 2020
- IKEA was valued at $19 billion in 2019.
- In 2019, the company operated 433 stores across the globe.
- The brand’s products have caused the deaths of several children.
- The company’s retail sales managed to grow by 6.5% over 2019.
- According to the IKEA furniture store statistics, the company was the most popular furniture retailer in the US in 2019.
- IKEA uses responsibly sourced cotton for its products.
- The company aims to use only sustainable wood sources.
- The company made $2.24 billion in 2017 from catering alone.
- In 2019, IKEA opened 12 new stores.
- IKEA aims to become climate positive within the next 10 years.
IKEA Statistics and Facts on the Industry and Market
1. In 2020, IKEA ranked as the seventh most valuable retailer brand on a global scale, valued at nearly $19 billion.
The company was founded in 1943 in Sweden and is now an internationally renowned furniture retailer—the largest in its industry. IKEA is well-known for its trademark Scandinavian style and its flat-pack packaging, meaning that most units are assembled by the buyers themselves.
2. In the case of the IKEA catalog, statistics show yearly printings well into the millions.
According to the pertinent data from Statista, the number of printed IKEA catalogs worldwide was approximately 203 million in 2017.
3. In 2019, the company operated 433 stores across the globe.
In comparison, in 2013, IKEA only had 345 stores worldwide. Furthermore, in 2019’s fiscal year, the IKEA Group managed to generate a total global revenue of $49.16 billion.
Interesting Facts About IKEA
4. In 2017, the company offered 9,500 products.
In its yearly summary for 2017, the company also stated that each year, it replenishes its product range with around 2,500 new items.
5. IKEA sold around 85 million LED bulbs in 2017.
When it comes to IKEA, sustainability facts are a must to mention. Namely, if each lightbulb they sold was used to replace an incandescent one, the energy saved overall would be enough to power around 750,000 average European households for a year.
6. Germany is IKEA’s largest market, representing 15% of its retail sales.
Looking at the IKEA facts and figures from 2017, the second-largest market for the retailer was the United States, third was France, fourth, the United Kingdom, and China was fifth.
7. The company’s retail sales managed to grow by 6.5% over 2019.
With such great fiscal results for IKEA, this growth translated to $1.76 billion in net income.
8. Sadly, IKEA items have caused the death of several children.
Among the dark, strange IKEA facts is the case surrounding the company’s Malm chest of drawers, weighing almost 70 lbs. It was recalled in 2016 because of safety concerns after three children were killed in freak accidents where these heavy drawers fell on them. In 2017, another toddler died this way. Later, the family sued IKEA, and the company ended up paying the largest settlement for wrongful child death in US history, $46 million.
9. On average, IKEA sells one Billy bookcase every single minute in the UK.
This is just one style of bookcase among IKEA’s offerings. According to the IKEA facts gathered by the Daily Mail, from 1999 to 2018, a total of 8.7 million Billy Bookcases were sold in the United Kingdom.
10. IKEA uses responsibly sourced cotton for its products.
With IKEA, many unknown facts pertain to the company’s impressive sustainability efforts. Its Cotton from More Sustainable Sources (CMSS) program ensures it uses 85% “better cotton” and 15% recycled cotton.
11. The company aims to use only sustainable wood sources.
IKEA also seeks to positively influence wood usage and the way it’s sourced. Namely, around 97% of the wood the company uses is from sustainable sources. Also, it’s the company’s goal to go 100% sustainable by the end of this year.
IKEA Food Facts
12. The company made $2.24 billion in 2017 from catering alone.
This respectable figure puts IKEA in tenth place on the list of the largest food sellers on the global market.
13. IKEA opened its first cafe in 1958.
IKEA founder Ingvar Kamprad thought it would be a good idea to cater to any “hangry” customers. According to data from three years ago, 30% of the store’s visitors come specifically to eat at IKEA.
14. Since 2015, IKEA’s food sales have grown by an estimated 8% each year.
Among the other mention-worthy fun facts about IKEA is how the stores served around 650 million visitors in 48 countries in 2017.
15. IKEA food courts aim to boost overall sales.
Food courts aren’t just for feeding hungry customers. According to Gerd Dieward, the executive running the company’s US food operations in 2018, the menu, IKEA statistics show, also improves furniture sales. Namely, the food courts give customers another chance to think and talk over their potential purchases and to ultimately pull the trigger on a few extra items before leaving.
16. IKEA’s Swedish meatballs aren’t actually Swedish.
In the vast pool of IKEA strange facts, this one is still an eye-catcher. The truth about köttbullar (the meatballs) unfolded in 2018 when the official Twitter account of the country of Sweden admitted that the delicacy is based on a recipe King Charles XII got from Turkey back in the 1700s.
17. Only around 50% of the menu is Scandinavian.
The remaining half is created to cater to individual markets and demographics. However, throughout IKEA history, the food chain’s biggest advantage over its competitors was and is the pricing. Visitors can feed a four-member family for around $20, making IKEA one of the cheapest dining options out there.
18. The largest IKEA restaurant is in India.
(The Economic Times)
IKEA’s first store in India opened in Hyderabad. This store also happens to house the largest cafe worldwide, with a full 1,000 seats.
Looking to the Future: IKEA Facts and Figures for 2020
19. In 2019, IKEA opened 12 new stores.
IKEA’s reach continues to grow. Last year, the company also operated across 50 e-commerce markets.
20. IKEA aims to become climate positive within the next 10 years.
Other exciting IKEA facts for 2020 include the company’s committed journey toward sustainability. Namely, by 2030, IKEA wishes to discontinue the use of fossil fuels and to operate on renewable energy entirely.
21. IKEA.com had approximately 2.8 billion visits in 2019.
Comparing the figures to the available data from 2010, these numbers grew fourfold. A decade ago, the website had around 700 million yearly visitors.
22. This company is the most popular furniture retailer in the US.
IKEA stats from Statista’s 2019 data state that around 9.8% of US survey respondents marked IKEA as the retailer they regularly visit when they go furniture shopping.
What is unique about IKEA?
First of all, IKEA strives to deliver quality at the lowest possible price point. As a matter of fact, IKEA is known to set the price tag first, then reverse engineer the product to fit that price range.
On the other hand, experts also believe that the way the company sets up its store layout is one of the main driving forces behind its success. Every piece of furniture is set up in a natural environment—and the pathways within the store are clearly designed to take visitors through the entire inventory.
Lastly, among the lesser-known IKEA fun facts, there’s the company’s way of reducing stress while you pay for your purchases. Experts say that the bakeries are set up near checkout on purpose, so when you pay for your items, the warm and sugary smells help soothe you.
Why is IKEA famous?
One of the main reasons behind IKEA’s success is the fact that the company sells its quality products at almost half the price its competitors charge. Another reason behind the retailer’s immense popularity is the fact that buyers assemble the purchased goods themselves. This may be annoying for some customers—however, it helps IKEA cut costs and focus more on creating high-quality products with the lowest price tag possible.
What does IKEA stand for?
The name of the globally renowned furniture store is actually an acronym. The first two letters stand for the name of the company’s founder, Ingvard Kamprad. The “E” stands Elmatryd, which is the name of the farm Kamprad grew up in. The last letter stands for the founder’s hometown, Agunnaryd.
How many meatballs does IKEA sell?
According to a Daily Mail article from two years ago, the retailer has managed to sell 27 million Swedish meatballs in Britain alone since 1987. On the other hand, the article estimates that IKEA sells around one billion of these delicacies every year on a global scale.
What is the biggest IKEA in the world?
Currently, the largest IKEA is found in Gwangmyeong, South Korea, only an hour’s drive from the center of Seoul. The store is almost as big as the Louvre museum in Paris, at 635,071 square feet. The second-largest store is in King’s Bend in Stockholm, Sweden.
The all-time largest store is still in the works. Expected to be finished by 2020, the biggest IKEA store will be in Manila, measuring at a mind-blowing 700,000 square feet. Apart from the two-level retail area, there will be a cafeteria capable of serving 1,000 diners at once. The largest store will also have a warehouse for e-commerce orders and will also host a call center.
(Business Insider, Quartz)
Who invented IKEA?
The founder of IKEA, Ingvar Kamprad, founded the company in 1943 when he was 17. He started out selling small household items like picture frames, wallets, and pens.
As you can see, IKEA is the world’s number-one furniture and furnishing retailer for a reason. The company strives to provide the best possible quality at the lowest price and has a deep understanding of consumer psychology and buyer behavior.
As such, the company has managed to experience rapid growth and become one of the most recognized brands across the globe over the past few decades. IKEA is without any doubt among the most successful businesses on the planet. Hopefully, these IKEA facts managed to give our readers a better idea of how the company works and why people love it and its products so much.