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Two small children sits on the livingroom floor while their parent is assembling a piece of IKEA furniture.

Ingka Group Annual Summary and Sustainability Report FY24

Better homes

We believe a better home can enable a better life. For generations, we have been on a mission to understand the needs, challenges and aspirations of the many, bringing inspiring and affordable home furnishings to people with big dreams – regardless of wallet size.

A person laying in a sofa looking into a smartphone and smiling.

What we are proud of

  • Lowered the prices of thousands of products across the IKEA range and our services such as interior design and assembly by an average of 9%.
  • Piloted IKEA Preowned, a peer-to-peer second-hand marketplace, to enable customers to buy and sell used IKEA furniture at even lower prices.
  • Opened 43 new IKEA locations including 3 new stores and 40 plan and order points, as well as 3 new Ingka Centres meeting places.
  • Scaled up our circular services including buying back over 495,000 used products from customers through our Buyback service and selling second-hand items at discounted prices in our As-Is areas in 365 stores.
  • Provided plant-based food to customers at our food outlets at the same or lower price than the meat-based alternatives, including our new plant-based breaded nuggets.
Two IKEA co-workers mounting a black BROR working table.

Challenges we are addressing

  • This year, we faced challenges with product availability, particularly in Europe and North America, due to a combination of internal and external factors including the geopolitical situation in the Red Sea and port strikes, and the complexities of implementing a new transport booking system.
  • We had to reduce the number of countries offering IKEA energy services due to challenges with some of our partners and changes to subsidies and regulations. We plan to expand the number of markets offering energy services in FY25.
  • We could not scale up our second-hand offer fast enough to meet customer expectations, both in- store and online.
  • Maintaining high safety standards in our locations requires all our co- workers to be vigilant and to apply our policies consistently. We need to continually reinforce a focus on safety through our training and communications.

Progress against targets

Our vision is to create a better everyday life for the many people. We set targets and monitor our performance, aiming become better in four ways: Better homes, Better lives, Better planet and Better company. Below you will find our targets and latest performance data in relation to helping customers have better homes.

Affordability and accessibility of products and services

With over 80 years of life at home expertise, we are constantly innovating to meet people’s dreams and needs with products and services that are good quality, affordable and accessible. We support our customers to create better homes no matter the size of their wallet.

1.
Targets under development. In parallel to publishing our FY24 report, we are conducting a thorough Double Materiality Assessment (DMA). The results will feed into target setting and be communicated in future reports.
Not applicable
Last updated 2025-01-27

Healthy & sustainable living

The IKEA ambition is to make healthy and sustainable living a desirable choice that is affordable, attractive, and accessible for as many people as possible. We contribute by bringing our customers products and services that can help them reduce energy, water and waste and prolong product life. We also use our communications to inspire behaviour and lifestyle changes.

1.
Provide knowledge, inspiration, services, and platforms to support customers in prolonging product life.
On track

Performance summary

Progress this year included:

  • As-Is areas in 365 stores (FY23: 337) where customers can buy returned, discontinued, ex-display and second-hand items for a lower price than buying new.
  • Around 260,400 customers across 28 countries used our Buyback service to give over 495,000 items a next life (FY23: 430,000).
  • We provided over 25.8 million free assembly parts (FY23: 24.6 million) to 2.2 million customers to help them repair their products and keep them in use for longer.
  • Refreshed our Sustainable Living Shops design and communications to make it easier for customers to find out about products that can help them reduce energy, water, waste and prolong product life.
Last updated 2025-01-21
2.
Enable customers to reduce their climate footprint by offering IKEA Energy services in all markets by 2025.
Not on track

Performance summary

We offered IKEA energy services to help customers use and produce renewable energy at home in 7 countries (FY23:11). We faced several challenges which meant we had to reduce the number of markets offering energy services in FY24. We remain committed to expanding to more countries but don’t expect to meet our target to reach all markets by 2025.

Last updated 2025-01-23

Customer and end-user safety

The safety of our customers is a top priority. We work closely with Inter IKEA to continuously improve the safety of our products, stores and other locations.

1.
Targets under development. In parallel to publishing our FY24 report, we are conducting a thorough Double Materiality Assessment (DMA). The results will feed into target setting and be communicated in future reports.
Not applicable
Last updated 2025-01-27

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​Further reading

Better lives
​Read about how we strive to build a fairer and more equal society and improve the lives of those impacted by IKEA. Learn more about co-worker engagement within Ingka Group.
Better planet
​Read about our commitment to becoming a sustainable business by 2030. Learn how we reduce our climate footprint and make it easier for our customers to act too.
Better company
​Learn how we do business with a humanitarian outlook, honestly and with integrity. Read up on how we deliver on strategic ambitions and goals, financial results, and governance.