HUF 145 Billion: Sales Up by 11% at IKEA Hungary

  • 25 Jan 2024 9:39 AM
  • Hungary Around the Clock
HUF 145 Billion: Sales Up by 11% at IKEA Hungary
IKEA Hungary took in Ft 145 billion in sales revenue in 2023, an 11% increase from 2022, the subsidiary of the Swedish furniture and home design chain reported.

However, sales shrank in volume terms, as inflation was 17.6% last year, the company added.

The chain hosted 8.1 million shoppers, up from 8.0 million in 2022, while online sales remained near 23.2% of total sales.

The average purchase size was Ft 28,605, while the average value of online purchases was Ft 80,705.

The restaurants in the chain hosted 4.1 million guests, an increase of 250,000 from the previous year.

As retail trade growth was 8.5% in January-November last year, IKEA outperformed the market, Portfolio notes.

Sales of furniture and home appliances dropped by 6.3% in Hungary last year, while inflation for these goods was 10%.

IKEA increased the wages of its 1,700 employees by 9.5% in January.

“We have once again had an exceptional financial year, during which we continued to improve the customer experience on all our channels, despite many challenges,” said David McCabe, head of IKEA’s operations in the Czech Republic, Hungary and Slovakia.

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