IKEA Belgium celebrates 40 years of affordable shopping with strong results 

Key Figures

IKEA Belgium achieved a turnover of €1.198 billion in fiscal year 2024, 0.83% lower than the record €1.2 billion turnover of the previous year. A strong result, especially when compared to the challenges faced by the retail and furniture sectors. 

Over the past fiscal year, IKEA lowered the prices of more than 3,000 products, making its range as affordable as possible for the average Belgian consumer. Thanks to these price reductions, IKEA Belgium saw a 3.5% increase in sales volume. IKEA Belgium also saw strong growth online (app + web): the number of visitors increased by 18.5% in the past financial year. Moreover, IKEA Food has become increasingly significant, with a 6.2% growth in sales across the bistro, restaurant, and Swedish Food Market compared to the previous fiscal year.

“As we celebrate 40 years in Belgium with such solid results, it’s clear we’ve prioritized what matters most—making our products affordable for all Belgians. This achievement is thanks to the dedication and hard work of our co-workers, and it’s truly gratifying to see these results on our anniversary,” said André Schmidtgall, CEO of IKEA Belgium. “We’re excited for what’s ahead, with new projects and opportunities to better meet the evolving needs of our customers through increased proximity and flexibility,” he added.

The Belgian Consumer and Sleep Quality 

With 40 years of experience in the Belgian market, IKEA Belgium is focusing even more on its sleep range this year. Over 30% of the company’s total assortment is dedicated to sleep, and IKEA aims to use its expertise to help Belgians sleep better. 

There is certainly room for improvement. A recent study by Sciensano*, Belgium’s public health institute, shows that 42% of Belgian adults experience poor sleep quality. A survey conducted for IKEA Belgium** also revealed that one in four Belgians is dissatisfied with their bedroom furniture. This year, IKEA is launching over 300 new items in its sleep range and has reduced the prices of more than 160-bedroom products. 

Prepared for a long future in Belgium

As it celebrates its 40th anniversary, IKEA Belgium looks back and forward with ambition. Last fiscal year, IKEA Belgium invested €26 million to enhance the in-store and online customer experience, reduce waiting times, and increase capacity for online services. These investments are paying off: online sales increased by 10.7%, and 13,000¹ customers used lockers to collect their online orders. Since the end of 2023, IKEA Belgium has installed these lockers at its stores in Ghent, Wilrijk, Zaventem, and Hasselt, with plans to roll them out to other stores soon. Over the coming year, the company will invest €28 million to continue improving the customer experience and the well-being of its coworkers. 

Higher volumes, smaller footprint 

Last fiscal year, IKEA Belgium again succeeded in reducing its climate footprint by more than 16% (from 2,789t to 2,324t CO2) through better management of its waste, water, and energy consumption. The company invested €5 million last year in renewable energy-based heating and cooling systems, making IKEA Belgium the only retailer to invest on such a large scale in making its existing stores more sustainable and future-proof. This year, 45% of home deliveries were made using electric vehicles, with the goal of reaching 100% by the end of 2025. 

In terms of social impact in Belgium, IKEA continues to support vulnerable single-parent families through its "Welcome Home" project and collaboration with local partners AMA, CAW, who are dedicated to the well-being of vulnerable families. IKEA Belgium is especially proud that these efforts have led to the creation of a new status for single-parent families in French-speaking Belgium. In addition, IKEA continues to support refugees in accessing the labor market by offering internships. This fiscal year, IKEA aims to help 40 more refugees find employment in the Belgian market. 

André Schmidtgall (IKEA Belgium)

* Sciensano, BEHEALTH, 2024

**See attachment: IKEA Belgium_Sleep survey_2024

Results Ingka and Inter IKEA 

Ingka Group, owner of IKEA Belgium, reported a turnover of €39.6 billion (-5%) for financial year 2024. Inter IKEA, the franchisor of IKEA Belgium, achieved a turnover of €45.1 billion. Other results of Ingka and Inter IKEA will be available from October 10, 13:00 CET