In a year that challenged retailers large and small, IKEA Retail U.S. reported total sales hit $4.7 billion, which included a 32% increase in e-commerce sales.
Covering its most recent fiscal year that ended August 31, 2020, the sales figures were included in IKEA”s 2020 Annual Summary. The report also outlines how IKEA Retail U.S. balanced the needs of its business, co-workers and communities while meeting the new demands of customers as they rediscovered a new meaning to life at home.
“More than ever before, 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, president & chief sustainability officer, IKEA Retail U.S. “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.”
The pandemic presented IKEA with many unexpected challenges that included closing all stores in March 2020 when the number of COVID-19 cases spiked in parts of the United States. The retailer adjusted quickly and put measures in place to operate safely under the unusual conditions.
Additional highlights from the 2020 Annual Summary for IKEA Retail U.S. include:
- 60 million visitors to stores and more than 490 million visitors online.
- Converted 50 stores to safely fulfill online orders via curbside Click & Collect and Click & Deliver
- Created a Digital Hub in the U.S. to further develop digital capabilities, especially in e-commerce, to meet the needs of customers.
- Continued expansion into city centers with the opening of IKEA Queens in New York City on January 11.
- Provided $3 million in IKEA grants for co-workers who needed additional financial support due to unexpected hardship and medical expenses.
- Donated more than $1.6 million in product donations and supplies to hospitals and organizations supporting COVID-19 relief efforts.
- Partnered with state governments across 27 states to return funds equivalent to the unemployment insurance paid to furloughed co-workers through the “Pay it Forward” program, so those funds could be reallocated to support ongoing relief efforts in local communities.