Recently, the CEO of IKEA's parent company Ingka Group said that during the epidemic, IKEA's online revenues skyrocketed. During this period, although IKEA's overall revenue fell 60% year-on-year, IKEA's online business has tripled year-on-year. Data show that IKEA's total revenue in 2019 is about 36.7 billion US dollars, while the online share only accounts for 11%.
In addition, during the epidemic, people prefer low-end products, which shows that people's consumption power or consumption willingness has declined, which will pose challenges for the company's subsequent operations. It is expected that by September this year, IKEA's revenue will return to 90% before the end of the epidemic.
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