In the 2016/2017 financial year (31 August) Ikea Group generated in Germany a turnover of €4.867bn. As announced by the company on 28 November, this represents a 2.4% increase by comparison with the preceding year. This means growth has slackened off further by comparison to preceding years. In 2015/2016 Ikea achieved a 7.2% rise, and in 2014/2015 the rate of increase amounted to +7.7%.
The opening of three new furniture stores in Wuppertal (September 2016), Wetzlar (May 2017) and Magdeburg (August 2017), for example, contributed to the current turnover rise. The online turnover increased significantly by 30.7% to €304m. As a proportion of total turnover, online turnover increased to 6.3%. In October 2016 the home furnishings group announced intentions to increase the e-commerce area as a proportion of turnover to some 10% over the next five years.
According to Ikea, kitchens, worktops as well as sofas and armchairs were the strongest product groups in terms of turnover in the period covered by the report. On average, the 52.9m Ikea customers in Germany spent €92 per shop in stores and online.
Ikea generates 2.4% turnover increase in Germany
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