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New E-commerce Store Will Supersize IKEAs Online Income

New E-commerce Store Will Supersize IKEAs Online Income

2015-10-20 15:55

In an interview with CNBC, the Swedish furniture giant admits to have been a bit slow online. The company is now going to start off a new stategy to attract e-commerce customers.

IKEA has a yearly income of around 30 billion euros, and is for the time being represented in 42 countries worldwide. However, 80 percent of the company’s income comes from the European market, with Germany leading the way. Only in 13 out of the 42 countries IKEA has an online presence.

- We could have been faster. I agree to that. But since we are late we can now skip a step in the technology development, straight to mobile and tablet, said Peter Agnefjäll, CEO of IKEA, to CNBC.

According to Agnefjäll, IKEA’s online presence however is soon to become more prominent. As the company grows, so will the e-commerce side of it, is the plan. At the moment IKEA is looking for new logistic solutions, as well as designing a new online store in order to reach out to its customers. Today the online business of IKEA is estimated to be worth an estimated one billion euros.

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- It will probably be 5 billion euros in 5 to 6 years from now, Agnefjäll predicted in the interview with CNBC.

Johanna Allhorn

Reporter

Journalist who has previously worked for several big media oulets making both newspapers and television broadcasts. Now contributing to the editorial content on Ecomony.

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