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Inter IKEA Group FY21 year in review

In FY21, the continuing effects of the global pandemic forced a large number of IKEA stores to shut. Some were closed for even longer periods in FY21 compared to FY20. When most stores re-opened in late spring, customers returned and in FY21 IKEA stores welcomed 775 million visitors. This is below FY20 (825 million visits), causing a store sales decline of 8%.

IKEA retail sales development
Despite lower store sales, total retail sales for FY21 were 5.8% higher compared to FY20, driven by online sales and increased interest in home furnishing. Online sales increased with 73%, and there was high demand for office furniture and other multifunctional solutions for the home.
IIGFS_IKEA retail sales

IKEA retail sales in billion EUR

FY21 resulted in total IKEA retail sales of EUR 41.9 billion (including sales of IKEA products, food and services by IKEA franchisees) compared to EUR 39.6 billion in FY20.

IKEA retail sales in billion EUR

  • €41.3
    FY19
  • €39.6
    FY20
  • €41.9
    FY21
Keeping IKEA stores and warehouses stock has been a challenge. Supply chain disruptions led to a substantial drop in the availability of products that we have yet to recover from. We expect this will continue far into FY22. Across the IKEA value chain, great efforts will continue to be made to keep our most popular products in stock.

Another challenge in FY21 was the steep global rise in transport and raw material prices. This created additional costs for the whole IKEA value chain.

Click here to learn more about the IKEA year that passed on About.IKEA.com

Inter IKEA Group recorded total revenues of EUR 25.6 billion, including wholesale sales to IKEA retailers, franchise fees and retail sales from the IKEA Delft store, and a net profit of EUR 1.4 billion for FY21.

Read more about the Inter IKEA Group FY21 financial results

Read more about the Inter IKEA Group FY21 balance sheet