Ikea Was Saved by Online Sales in Lockdown: Ingka Holding CEO

The transcript discusses IKEA's response to the challenges posed by COVID-19, highlighting the company's strategic shift towards online sales and smaller city center stores. It emphasizes the importance of balancing online and physical store presence, managing inventory, and investing in sustainability. IKEA's efforts to adapt to changing consumer demands and its commitment to reducing its carbon footprint are also covered.

How did IKEA's online sales change during the COVID-19 pandemic?

• They increased from 11% to 18%.

• They were not affected.

• They remained the same.

• They decreased significantly.

What is IKEA's strategy to become more accessible to customers?

• Opening more large flagship stores.

• Focusing solely on online sales.

• Opening smaller city center stores.

• Reducing the number of stores.

What challenge did IKEA face in managing inventory during the pandemic?

• Difficulty in shipping transatlantic.

• Lack of demand for products.

• No challenges were faced.

• Excessive stock in stores.

How did IKEA manage to fulfill orders during the pandemic?

• By reducing the number of products available.

• By outsourcing to third-party logistics.

• By using their stores as fulfillment centers.

• By relying solely on online warehouses.

What aspect of life does IKEA hope will remain important post-pandemic?

• Life at home.

• Frequent travel.

• Office work.

• Shopping in malls.

What is one of the key components of IKEA's sustainability plan?

• Focusing on physical store sales.

• Investing in renewable energy.

• Decreasing online presence.

• Reducing the number of stores.

What future challenge does IKEA anticipate beyond COVID-19?

• Increased competition from local stores.

• A lack of interest in home goods.

• The climate crisis.

• A decrease in online sales.