33 Ikea Statistics 2024: Market Share, Revenue & Shoppers Data
From its humble beginnings in Sweden in 1943 as a small mail-order business, Ikea has grown into the world's largest furniture retailer, with 473 stores across 63 countries. In 2024, Ikea's global revenue is projected to hit around EUR 50 billion, highlighting its massive influence in the industry.
This blog dives into Ikea's market share, regional performance, e-commerce growth, and sustainability efforts. Let's understand where the company stands and where it's headed.
Ikea Statistics 2024 (Editor's Picks)
- Ikea operates 473 stores in 63 countries, making it the largest furniture retailer in the world.
- Ikea's global revenue reached EUR 47.6 billion in 2023, an increase of 6.6% compared to FY22.
- IKEA aims to be climate positive by 2030, having already cut its climate footprint by 22% compared to its FY16 baseline.
- The largest Ikea store is in the Philippines. It is located in Pasay City, Manila, and spans over 700,000 square feet.
- Ikea's website attracted over 3.8 billion visits in 2023.
- Ikea sells around 1 billion meatballs annually, making it one of the brand's most iconic and popular offerings.
Brief Overview of Ikea
| Launch Date | 28 July, 1943 |
| Headquarters | Delft, Netherlands |
| Founder | Ingvar Kamprad |
| CEO | Jesper Brodin |
| Country | Sweden |
| Industry | Retail and Wholesale |
| Employees | 219,000 |
Ikea Global Market Share
In 2024, Ikea maintained its position as the leading global furniture retailer, commanding a significant share of the market. With over 470 stores across more than 60 countries, Ikea's market share stands at approximately 7.5% of the global furniture market, making it a dominant player in the industry.
While competitors like Wayfair and Ashley Furniture are gaining ground, Ikea's blend of affordability, design, and sustainability keeps it ahead of the pack. The company's ability to adapt to changing consumer demands while staying true to its core values continues to strengthen its position in the market.
Ikea Revenue and Sales Growth
Ikea made EUR 47.6 billion in revenue in 2023, an increase of 6.6% compared to FY22. In 2024, Ikea is on track to hit a whopping EUR 50 billion in revenue, which will mark a 6% growth from the previous year. This isn't just luck it's the result of strong performance in established markets of Europe and North America, plus some serious expansion in emerging markets.
What's driving this growth? A big boost in online sales, fresh new product lines, and a relentless focus on making the customer experience top-notch, both in-store and online. And let's not forget Ikea's commitment to sustainability, which is winning over more and more eco-conscious shoppers.
Here's a table that shows the annual global revenue of Ikea over the past years:
| Year | Revenue |
| 2024* | EUR 50 billion |
| 2023 | EUR 47.6 billion |
| 2022 | EUR 44.6 billion |
| 2021 | EUR 41.9 billion |
| 2020 | EUR 39.6 billion |
| 2019 | EUR 41.3 billion |
| 2018 | EUR 38.8 billion |
| 2017 | EUR 38.3 billion |
| 2016 | EUR 35.69 billion |
| 2015 | EUR 32.7 billion |
| 2014 | EUR 29.3 billion |
| 2013 | EUR 28.5 billion |
| 2012 | EUR 27.6 billion |
| 2011 | EUR 25.2 billion |
Regional Performance
IKEA's impressive revenue and sales growth are driven by its strategic focus on innovation and adapting to local market needs. Here's a closer look at how different regions contribute to this success:
Europe
Europe is Ikea's largest market, making up nearly 71.4% of its sales in FY23. Key markets like Germany, France, the UK, and Italy are driving this growth.
Germany stands out, contributing over 15% of Ikea's total sales in 2023, thanks to new store openings and a boost in online shopping. The United States follows closely with 14.5% of the market share.
In the UK, Ikea has focused on expanding its smaller, city-center stores catering to urban dwellers with limited space. This strategy has paid off, with UK sales increasing by 11.9% in 2023.
France also remains a strong market, making up 9.1% of its total sales. This success is driven by Ikea's commitment to sustainability and locally sourced products. The French market loves this approach, and it shows in the numbers.
Here's a graph that shows the top five countries for Ikea sales in FY23:
North America
In North America, Ikea's performance continues to strengthen, particularly in the United States, the company's second-largest market. Ikea US generated revenue of about USD 5.6 billion in 2023, with a growth rate of 3% year over year.
Canada also remains a key market for Ikea in North America. In FY23, Ikea's sales grew by 10.9% to USD 2.9 billion.
The company's focus on enhancing the in-store experience, coupled with a significant increase in online sales, has contributed to this growth.
Asia Pacific
The Asia-Pacific region is one of Ikea's fastest-growing markets, with China and India leading the charge. Ikea has announced significant investments and strategic plans for the Chinese market.
They plan to invest CNY 6.3 billion (approximately USD 864 million) over the next three years to enhance their presence and integrate their assets in China. This includes introducing over 2,000 new products and focusing on digital advancements.
India, a relatively new market for Ikea, is also showing promise. The company's sales increased by 61% to Rs 1,768 crore (approximately USD 211 million) in FY23. Ikea is also planning substantial investments and expansions, including new stores and an enhanced online presence. Ikea's commitment to affordable pricing resonates well with Indian consumers.
Emerging Markets
Ikea is on the brink of something big in emerging markets. In places like Latin America, the Middle East, and Africa, Ikea is just getting started, but the potential is off the charts. For instance, in Latin America, Ikea is making waves with a USD 600 million investment to expand its store count from three to 12 across countries like Chile, Colombia, and Peru. In the Middle East, Ikea is playing it smart by tailoring their products to fit local tastes and cultural vibes.
Ikea Consumer Demographics
Ikea's appeal is universal, pulling in a diverse crowd from all walks of life. Whether it's first-time homeowners, young professionals, or seasoned decorators, Ikea offers something for everyone. Understanding who shops at Ikea gives us a peek into just how wide their market reach is.
Ikea shoppers by age
In 2024, the majority of Ikea's customers are between 20 and 34 years old, with a fairly balanced split between men and women. They make up over 40% of worldwide Ikea shoppers. This crowd is all about finding stylish, contemporary, and quality furniture without breaking the bank exactly what IKEA is known for.
Here's the age breakdown of Ikea shoppers by percentage:
| Age Group | % of Ikea Shoppers |
| 20-34 | 41% |
| 35-44 | 35% |
| 45-54 | 15% |
| 55-64 | 5% |
| 65+ | 4% |
While millennials and Gen Z still make up the lion's share of IKEA's customers, there's a rising demand from older groups, too. Their target market might just expand even more if future generations start buying their big home pieces later in life.
Ikea shopper by income
Given its ingeniously affordable prices, Ikea is a magnet for middle-class shoppers. Most of their marketing still targets households earning between USD 35,000 and USD 100,000. But let's break down the shopper distribution across income levels:
- Over 60% have household incomes below USD 75,000.
- Only 12% come from affluent households earning over USD 150,000.
When it comes to what they buy, there is a clear pattern. Lower-income shoppers often go for smaller decor accessories and organizational items. Meanwhile, high earners tend to fill their carts with bigger ticket items like furniture and kitchen upgrades.
The table below shows Ikea shoppers by household income and their average spending:
| Household Income | % of Ikea Shoppers | Average Basket Size |
| Under USD 35K | 15% | USD 65 |
| USD 35 – USD 75K | 48% | USD 235 |
| USD 75K – USD 100K | 19% | USD 410 |
| USD 100K – USD 150K | 12% | USD 650 |
| Over USD 150K | 6% | USD 975 |
Ikea's Loyalty Programs and Customer Retention
Ikea's loyalty program, Ikea Family, continues to play a crucial role in customer retention. As of 2024, the program boasts over 170 million members worldwide.
A significant portion of Ikea's sales is attributed to this program. For instance, since launching the program in Portugal, the share of sales from Ikea Family members has increased to 58%, while transaction frequency and average transaction value have seen a sharp increase.
Additionally, the program has been successful in increasing customer engagement, with members visiting Ikea stores more frequently.
Ikea's E-Commerce Growth and Digital Transformation
Ikea's journey into the digital world has been nothing short of revolutionary. As more people embrace online shopping, Ikea has stepped up its game, blending cutting-edge tech with a seamless shopping experience.
Online Sales Growth
The shift towards e-commerce has been a significant driver of Ikea's growth in recent years. In 2023, Ikea generated USD 10.4 billion in e-commerce net sales worldwide, up from USD 9.43 billion in 2022.
Online sales accounted for more than 25% of Ikea's business in 2023. This growth has been fueled by the company's investments in its online platform, making it easier for customers to browse, purchase, and receive products without ever setting foot in a store.
Ikea's online sales growth has been particularly strong in markets like the United States, China, and the UK, where consumers increasingly prefer the convenience of shopping from home. The company's ability to offer a seamless online shopping experience, combined with efficient delivery services, has been key to its success in the e-commerce space.
Digital Innovation
IKEA's digital transformation is more than just boosting online sales. They're all about enhancing the customer experience, both online and in-store. In 2024, IKEA is taking things up a notch with cutting-edge tech like augmented reality (AR) and virtual reality (VR) to help you see exactly how their products will look in your home.
Their new AI-driven tool, IKEA Kreativ, is a game-changer. With the IKEA Kreativ Scene Scanner, you can use your smartphone to create a lifelike 3D replica of your room. This lets you virtually erase existing furniture and place new IKEA pieces to see how they fit and look in your space.
Since its launch, IKEA Kreativ has seen over 3 million users create virtual room designs. The feedback from customers has been overwhelmingly positive, with many appreciating the ability to visualize and design their spaces virtually.
Ikea's Sustainability Initiatives
Sustainability remains at the core of Ikea's business strategy. In 2024, the company continues to make significant progress toward its goal of becoming a fully circular and climate-positive business by 2030.
Ikea plans to use only renewable or recycled materials in its products by 2030. Currently, 55.8% of its materials are renewable, and 17.3% are recycled. The company also uses 100% renewable electricity for all Ikea-operated factories, packaging, and distribution units globally.
Ikea has also made strides in reducing waste, with a goal of sending zEUR waste to landfills by 2030.
Ikea by the Numbers: Surprising Stats and Facts
- Ikea was founded in 1943 by 17-year-old Ingvar Kamprad in Sweden. The name IKEA comes from his initials (Ingvar Kamprad) and the names of his family farm (Elmtaryd) and hometown (Agunnaryd).
- The Ballymun Ikea store in north Dublin is the most visited Ikea store globally. The company reported that over a 12-month period, 3.2 million customers visited the store.
- Ikea sold more than 75 million potted plants in 2023, reflecting the growing trend of indoor greenery.
- Ikea offers approximately 12,000 products in its range, catering to a wide variety of home furnishing needs.
- The iconic LACK table has been sold over 60 million times since its introduction, making it one of Ikea's most popular products.
- It is estimated that every five seconds, one BILLY bookcase is sold somewhere in the world.
- The largest Ikea restaurant in the world is located in Hyderabad, India. This massive restaurant can seat around 1,000 people.
- Since 2015, Ikea has only sold LED light bulbs, which are more energy-efficient and have a longer lifespan than traditional bulbs.
- Ikea has installed 213,863 solar panels and 104 wind turbines, producing significant amounts of renewable energy annually.
Wrapping Up
In 2024, Ikea is absolutely crushing it in the global furniture game. They've already achieved a remarkable EUR 50 billion in revenue and attracted over 3.8 billion visits to their website. Their strong performance in established markets and rapid expansion into places like India are just the tip of the iceberg.
What really sets Ikea apart is their relentless focus on innovation and customer experience. They're not just a furniture store they're shaping the future of home living. Whether you're a trend watcher or just love cool, functional design, Ikea's strategic moves and impressive growth make it a brand you can't ignore.
