Popular Swedish retail chain IKEA Philippines has recorded a turnover of 144 million euros, approximately P8.7 billion, for this financial year, starting from September 2022 to August 2023. 

According to the report of Singapore-based Ikano Retail, the firm that owns and operates the IKEA store in Pasay City, the Philippine branch also saw a 28.3 percent increase in revenue from financial year 2022. 

The report indicated that IKEA Philippines contributed around €144 million to the overall €1.08 billion turnover posted by Ikano Retail this year, which encompassed all its operations in its IKEA franchises in Singapore, Malaysia, Thailand, and Mexico. 

“Despite the headwinds, our stores remained at the heart of our omnichannel experience as we continued to develop IKEA.ph and created more ways for customers to meet and shop with us,” said Ikano Retail CEO Christian Roejkjaer. 

Among the notable achievements of Ikano Retail in the Philippines were the launch of the IKEA Remote Planning studio online in the Philippines to cater to customers who are far away from Metro Manila or those in the Metro who want to avoid traffic. 

It also introduced ClubEXP wherein online community members aged 13 to 20 years-old can engage with the brand and the store. This has also created an opportunity for the brand to give teen customers tours and demos within IKEA. 

Its further advancements in technology have also enabled IKEA Family members in the country to donate their points for corresponding cash donations to selected non-profit organizations. 

Ikano Retail said its turnover inched up by 2.1 percent year-on-year despite mixed performances across markets, which Roejkjaer attributed to “higher costs all along our value chain, inflation, and a more cautious consumer sentiment.” 

Nonetheless, the retailer recorded a consolidated number of 120 million visits in all of its IKEA outlets, which is 5.7 percent or six million more than last year, he added. 

It also grew its IKEA Family base by over 11 percent this year to 4.85 million members, 54 percent of whom accounted for their total sales. 

Its iconic BILLY bookshelves was also the second highest ranked in sales (over 207,000) across all markets in all of Ikano’s franchises, preceded by the MALM chest of four drawers and succeeded by the KLEPPSTAD wardrobe. 

IKEA Food also remains to be patronized by shoppers with visits up by 13 percent to 14.5 million across all its IKEA restaurants, cafes, bistros, and Swedish Food Markets, and total sales increasing by 11.7 percent from last year. 

In terms of sustainability, Roejkjaer said they “developed new community partnerships, facilitated social days for more than 1,000 co-workers, and trained more than 2,000 co-workers in sustainability courses.”

Personnel at the Pasay branch also began Declutter Week where pre-loved clothing, books, and household items were traded.