Creating a new IKEA in three years

We are on a transformation journey and are changing our business model to become more convenient, affordable and sustainable. This journey is guided by our Retail Direction: 10 jobs in three years. In this direction, we have identified the 10 most important jobs that we need to do within three years to create a new IKEA. It guides our IKEA Retail business and is our response to the IKEA Direction, which is set out by the franchisor.

IKEA is an idea of something better – a vision to create a better everyday life for the many people – in life at home and beyond. It’s a movement that stands on the side of the many people with big dreams and thin wallets. And, it’s a commitment to create a better world for people and the planet.

With a unique business idea, concept, values and vision, IKEA has grown over the years. People the world over have fallen in love with our offer and ideas for making life at home better over the past 75 years. But the world is changing, fast. More and more people are moving into the big cities and living in smaller spaces. The impact of climate change and resource scarcity affects us all. Technology and digitalisation are changing many things for the better. At the same time, traditional businesses, including retail, are being disrupted. For Ingka Group, this means many challenges and new opportunities.

To be able to meet the needs of our customers today and tomorrow, we are undertaking the biggest transformation in the IKEA history. We are simplifying what we do and how we do it. We are examining every aspect of our business, from retail experience to how we are structured as a company. In recent years we have taken good steps towards the future, and now it’s time take a bigger next step.

The big problems we love

We are 158,400 problem solvers and we love problems as that’s part of our entrepreneurial spirit. In our daily work, when things don’t go exactly as planned, we find a way. But there are some big problems facing all of us – dilemmas that we cannot solve on our own. We will act on them boldly and together turn our most challenging problems into our biggest opportunities. The big problems we love will also help us to prioritise what we do.

  • How can we help many more of the many people have an affordable and better everyday life at home? In many more places, many more people are entering the middle class and have a chance at a better life. Most people lack the time and knowledge for creating a better home, and here we can make a big difference. We will reach many more people with the products and services they want, at prices they can afford.
  • How can we be more convenient and serve more of the many where they are? Everyday life happens at home, at work, at school and in people’s social life. But time and money are limited. More people are moving into cities. Some lack a car or simply don’t want one. Our existing stores are the core of our business and with the development of digital innovation and new physical formats, we see new opportunities opening up. People look for instant gratification, and our focus will be to make the store visit more sustainable and convenient. We will also develop our fulfilment network to bring products to more people’s homes, whenever and wherever they want them – with quality throughout.

How can we become truly people and planet positive?

Climate change, unsustainable consumption and inequality are the key challenges facing society today. For us, being big is both a responsibility and an opportunity to make a positive impact. Our vision, values, competence, reach and financial strength give us an opportunity to lead. We want to grow our business, offering services and home furnishing solutions that inspire and enable more people to live better everyday lives within the limits of the planet.

Change everything (almost!)

To undertake one of the biggest transformations in our history, and to lead home-furnishing retail into the future, we will become quicker and leaner. We will develop new capabilities with a growth mind-set that is agile and innovative, guided by our culture and humanistic values. Our backbone is the IKEA brand and unique range, passionate and performance-driven people, and deep knowledge of sustainability and life at home.