CONSHOHOCKEN, Pa. – According to the annual summary from Ikea Retail U.S., the company experienced a 32% increase in e-commerce sales in the U.S. during fiscal year 2020 which ran from Sept. 1, 2019, to Aug. 31, 2020. The company ended the year with $4.7 billion in total sales.
“More than ever before at Ikea Retail U.S., we were driven by our shared values and purpose – not by profits – and I’m proud that we put our people first by supporting our 18,000 co-workers and the local communities we operate in,” said Javier Quiñones, Ikea Retail U.S., president and chief sustainability officer. “We were able to come together, transform our business and help create a better everyday life for the many at a time when life at home has never been more important.”
Quiñones said the pandemic presented many unexpected challenges, including the necessity of closing all stores for several weeks in March 2020. Since that time, he said, the company has adjusted its business model and put measures in place to operate safely in stores.
In spite of the pandemic, the company accelerated its expansion into city centers, such as the new smaller format location in Queens, N.Y. Ikea also provided an additional $3 million in grants for co-workers who needed financial support due to unexpected hardship and medical expenses.
During the year, the company reported 60 million visitors to its stores and more than 490 million visitors online. Ikea also converted all 50 stores in the U.S. to safely fulfill orders both curbside through Click & Collect and for home delivery through Click & Deliver, and the company developed a digital hub in the U.S. to help improve its e-commerce functionality to meet the needs of customers.
Ikea Retail U.S. also said it made headway in its efforts to sustainability and addressing social issues: The company produced more than 1 billion kilowatt hours of renewable energy, and it committed $3 million to assist organizations that support social justice, economic empowerment and educational initiatives.
The post Ikea experiences 32% increase in e-commerce in FY2020 appeared first on Furniture Today.