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A graphic symbol similar to a house that symbolizes better homes.

Ingka Group Annual Summary and Sustainability Report FY23

Better homes

​Our passion for a better life at home is what makes us IKEA. For generations, we have been on a mission to understand the needs, challenges and aspirations of the many, bringing inspiring and affordable home furnishings to people with big dreams regardless of wallet size.

A graphic symbol similar to a house that symbolizes better homes.
A family of six sharing a meal together in a cozy, dark dining area.

What we are proud of

  • We opened three new stores, 10 city centre locations and 47 new plan and order points as well as two new Ingka Centres meeting places and used innovative technologies in-store and online to make IKEA accessible to more people.
  • Despite economic challenges in many markets, our retail sales grew by 5.7%.
  • Our IKEA Life at Home Report shared unique insights from research with 37,000 people in 38 countries.
  • Over 211,600 customers (FY22: 105,000) used our Buyback service to give 430,000 items they no longer needed a second life (FY22: 230,000).
  • We launched our first plant-based hot dog and made our plant-based food options available at the same price or even lower than our meat-based alternative.
A smiling woman cycling on a cosy city street with IKEA packages stacked on her cargo bike.

Challenges we are addressing

  • In FY23, despite the challenges of inflation, currency fluctuations and economic disruption, we invested in decreasing prices in some parts of our range but still have further to go to reach pre-pandemic price levels. We are prioritizing this in FY24 and expect to lower prices for many more products during the year.

Progress against targets

Our vision is to create a better everyday life for the many people. We are setting targets and evaluating our performance for how we can become better in four ways: Better homes, Better lives, Better planet and Better company. Below you will find our targets and performance towards creating better homes.

Affordability and accessibility of products and services

With over 80 years of home furnishing and life at home expertise, we are constantly innovating to meet people’s dreams and needs with products, services and solutions that are affordable, accessible and more sustainable.

1.
Targets under development
Not applicable
Last updated 2024-01-25

Healthy & sustainable living

The IKEA ambition is to inspire and enable 1 billion people to live a better everyday life within the boundaries of the planet by 2030. At Ingka Group, we contribute by bringing our customers products, services and solutions that can help to reduce their environmental impact and by using our communication to inspire positive lifestyle changes.

1.
Provide knowledge, inspiration, services and platforms supporting customers to actively participate in circular actions.
On track

Performance summary

Progress this year included:

  • As-Is areas in 373 stores where customers can buy returned, discontinued, ex-display and secondhand items for a lower price than buying new.
  • Over 211,600 customers (FY22: 105,000) used our Buyback service to give 430,000 items a second life (FY22: 230,000). A campaign to ‘Keep Good Things Going’ ran in several markets to highlight the service.
  • 24.6 million spare assembly parts provided to customers (FY22: 21.9 million) with online ordering for spare parts now available in 28 countries.
Last updated 2024-01-25
2.
Enable customers to reduce their climate footprint by offering IKEA Energy Services in all markets by 2025
Not on track

Performance summary

We offer IKEA Energy Services in 11 countries, including a home solar service and, in Sweden, a heat pump service.

Last updated 2024-01-25

Customer and end-user safety

The safety of customers who use our products and who visit our stores and locations is a top priority. We work closely with Inter IKEA to continuously improve the safety of our products and locations.

1.
Targets under development
Not applicable
Last updated 2024-01-25

Related news

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IKEA opens city stores in San Francisco and Toronto, comes closer to more customers in North America
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IKEA is making plant-based food more affordable and accessible for the many
IKEA is making plant-based food more affordable and accessible for the many

​Further reading

Better lives
​Read about how we strive to build a fairer and more equal society and improve the lives of those impacted by IKEA. Learn more about co-worker engagement within Ingka Group.
Better planet
​Read about our commitment to becoming a climate positive and circular business by 2030. Learn how we reduce our climate footprint and make it easier for our customers to act too.
Better company
​Learn how we do business with a humanitarian outlook, honestly and with integrity. Read up on how we deliver on strategic ambitions and goals, financial results, and governance.