Johanson, IKEA Korea CEO: "Last Year, Koreans Visited Our Stores 1.3 Times on Average"

Frederik Johansson, CEO of IKEA Korea, is explaining the key achievements of the past fiscal year and the business strategy for the 2023 fiscal year at a press conference held on the 14th at IKEA Gwangmyeong store.

[Asia Economy Reporter Donghyun Choi] "Despite the COVID-19 situation, I take pride in the fact that last year, the people of South Korea visited our stores at least 1.3 times."

Frederik Johansson, CEO of IKEA Korea, held a press conference on the 14th at IKEA Gwangmyeong store and said, "Last year, the total number of online and offline visitors to IKEA Korea was 66.82 million." He added, "IKEA's vision of 'Creating a better everyday life for many people' is the reason for our existence," emphasizing, "Over the past year, we have realized how many Korean consumers are joining us for a better and cleaner planet."

Home furnishing retail company IKEA Korea announced its major achievements from last year and new business strategies for the 2023 fiscal year (September 2022 to August 2023), which begins in September. IKEA's sales last year were 618.6 billion KRW, a 9.5% decrease compared to the same period the previous year (683.6 billion KRW). However, online sales increased by 12% during the same period, and family members grew by 13% to 3.4 million. Despite a decline in offline sales due to the COVID-19 situation, the strengthening of online capabilities helped the company perform relatively well in terms of results.

In this fiscal year, IKEA Korea plans to strengthen its omnichannel approach, allowing customers to meet IKEA anytime, anywhere, and in various ways, while contributing to climate crisis response and the circular economy to become a more sustainable company.

First, as a home furnishing company creating 'better living at home,' IKEA Korea will introduce localized home furnishing solutions reflecting domestic residential culture. To this end, it will launch a new brand campaign called 'Jib-eun, Haenaem' (Home is Haenaem), providing home furnishing inspiration that discovers new possibilities for homes, focusing on various storage solutions. Additionally, it plans to introduce diverse home furnishing solutions that focus on small daily moments, showing how even minor changes can bring great happiness.

The company will also accelerate the strengthening of its omnichannel services for total home furnishing, making it more convenient to meet IKEA at various touchpoints. Customized customer services will be offered remotely, from consultation to payment, through channels such as phone, chat, and online video services. Furthermore, the 'Interior Design Service,' which provides professional consulting on overall interior design, will be expanded to all stores and remote channels. The B2B (business-to-business) service 'IKEA for Business' for corporate and small business customers will also be expanded.

Efforts toward sustainability that is friendly to people and the planet will continue. IKEA will help more people practice sustainability in daily life by strengthening the 'Sustainable Living Shop,' which introduces home furnishing products for sustainable living at home, and the 'Resource Circulation Hub,' which contributes to the circular economy through secondhand product transactions. Within the 2023 fiscal year, the proportion of plant-based menu items in IKEA restaurants will be increased to 42%, and electric vehicle deliveries will be expanded to 60%. IKEA Korea will also invest in domestic renewable energy to become a 'climate positive company' by 2030.

Frederik Johansson, CEO of IKEA Korea, stated, "We will make the new fiscal year a year of leap forward by fully strengthening our omnichannel approach, enhancing customer accessibility and convenience through various services and solutions that cover both online and offline." He added, "As a home furnishing company equipped with everything about the home, we will continue to strive to help more people create sustainable and happy living at home."

This content was produced with the assistance of AI translation services.