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Ingka Group Annual Summary FY22

Better homes

Our passion for a better life at home is what makes us IKEA. As people across the world face rising economic uncertainty, the need to feel safe and happy at home is more important than ever. This is how we make healthy living and sustainable furniture desirable, affordable and accessible for more people.

Download report chapter: Better homes
A graphic symbol similar to a house that symbolizes better homes.

Creating better homes

During financial year 2022 (FY22), we have brought the IKEA range closer to more people through city stores, new retail formats and online shopping and expanded our services within clean energy, home delivery, finance and more. We take pride in our progress, but to increase transparency, we highlight our challenges as well.

Three employees in the IKEA kitchen where one laughs and hands out food to customers in the restaurant.

What we are proud of

With almost 80 years of home furnishing retail expertise, we are constantly innovating to meet people’s dreams and needs with products, services and solutions that are affordable, accessible and sustainable. Here are some examples of how we created better homes during financial year 2022.

  • Opened our first city stores in Sweden, the UK, Canada, and India to bring the IKEA range closer to more people.  
  • Performed 74 million services such as home delivery, product assembly and installation, helping to make our range more convenient and accessible to customers.   
  • Expanded our affordable financial services to China and Ireland, giving more people a chance to improve their homes while keeping their budget in balance.   
  • Extended our clean energy services by start selling heat pumps in Sweden. 
  • Introduced our Sustainable Living Shop in stores across 30 markets, to highlight accessible and affordable products and solutions to more customers. 
  • Connected with over 37,000 people in 37 countries to conduct our ninth annual Life at Home Report.
IKEA employees help a customer with self-scanning of payment in a department store.

Challenges we are addressing

During the first years of the pandemic, despite rising costs, we kept prices as low as possible for our customers. Together with Inter IKEA Group, we absorbed substantial supply chain-related costs to soften the impact on retail prices. However, in financial year 2022 we have had to increase our prices to reflect rising material and transportation costs following the pandemic and war in Ukraine.  

We are developing our approach to enable us to measure and report progress against the IKEA ambition to inspire and enable 1 billion people to live a better everyday life within the boundaries of the planet. 

Progress against targets

Our vision is to create a better everyday life for the many people. We are setting targets and evaluating our performance for how we can become better in four ways: better homes, better lives, better planet and better company. Below you will find our targets and performance towards creating better homes.

Inspiring and enabling a better, more sustainable life at home

1.
Enable customers to reduce their climate footprint by offering clean energy services in all markets by 2025. 
Not on track

Performance against target

We have reached 11 countries with our clean energy services. In FY22 we made heat pumps available to customers in Sweden. 

Last updated 2023-02-15
2.
Provide knowledge, inspiration, services and platforms supporting customers to actively participate in circular actions.
On track

Performance against target

We have introduced and tested a range of solutions, including turning our As-is areas into circular hubs in 306 stores, enabling customers to buy second-hand and nearly new furniture. Our spare parts service was used by 1.8 million customers to repair and extend the life of IKEA products and over 105,000 customers used our Buyback & Resell service. Ingka Centres have also launched Circuit – a curated community hub for circular living in some of our meeting places.

An IKEA customer who handed in his old second-hand item to one of our department stores to be resold.
Last updated 2023-02-15

Curious to know more?

Download the full report to learn all the details.

Learn more about how we make life better