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This histogram describes the annual revenue of the IKEA group worldwide during the fiscal years 2004 to 2023, in billions of euros. In 2023, the global revenue generated by the IKEA group amounted to more than **** billion euros.

IKEA

IKEA is an internationally renowned home decor retailer. Since its founding in 1943, its growth has been rapid. Today, it is the largest furniture retailer in the world, known for its Scandinavian style. Most of the furniture sold by IKEA is presented in flat-pack packaging and ready to be assembled by the customer. This helps reduce costs and packaging.

One of IKEA's competitive advantages is its deep understanding of its customers. The company has integrated the factors that influence customers' purchasing decisions and applies best practices to guide this decision; thus, it has become one of the most loved companies in the world.

Low prices are the core idea of IKEA's activities, and the company always tries to operate in the most efficient and economical way possible. To continuously lower costs, this company must invent new and innovative ways that it integrates into its business model. The company's innovations include using new, cheaper materials that contribute to a sustainable environment or employing innovative packaging, handling, and transportation methods.