Business
IKEA Hungary seen making history this year
IKEA expects a 13% year-on-year revenue growth in Hungary for 2017. The seller of ready-to-assemble furniture posted HUF 53.87 billion revenues and HUF 3.65 billion after-tax profit in 2016.
The likely expansion also has to do with a new unit IKEA opened in Soroksár in June this year. It is the company’s third store after the first opened in Budapest’s Örs vezér tér in 1990 and the second in Budaörs in 1999. The construction of the 34,000-square-metre Soroksár unit absorbed nearly HUF 17 billion and it took 2,000 workers to complete in 18 months.
As regards the main experiences gathered in the more than four months since opening, IKEA highlighted that the number of consumers at the other two units has not changed meaningfully although some territorial overlap does exist. The shopper base of the Soroksár store is primarily the population of the nearby districts and towns, but many come from other cities easily accessible via the motorway, e.g. Cegléd or Kecskemét.
According to the latest study of the company, two thirds of the residents nearby the store know and like IKEA, while the concept and services of the furniture and home accessories company is entirely new for about 20% of them.
The massive Soroksár unit also includes a warehouse which allows customers to take full kitchen sets or wardrobes on site. Subsequently, most people go to the store on the weekend with specific plans, and there are fewer spontaneous visits there.
The composition of the purchases also attests the pre-planned nature of shopping at IKEA. The products bought in the highest value have been couches, bed frames and wardrobe solutions. As per the highest quantity, the most popular products were kitchen appliances, mugs and plates, as well as candles that already signal the approaching winter and All Saints Day. Preparations for Christmas have already started, with the delivery of packaging materials and decorations, as shoppers tend to buy these ever earlier each year.
The likely expansion also has to do with a new unit IKEA opened in Soroksár in June this year. It is the company’s third store after the first opened in Budapest’s Örs vezér tér in 1990 and the second in Budaörs in 1999. The construction of the 34,000-square-metre Soroksár unit absorbed nearly HUF 17 billion and it took 2,000 workers to complete in 18 months.
As regards the main experiences gathered in the more than four months since opening, IKEA highlighted that the number of consumers at the other two units has not changed meaningfully although some territorial overlap does exist. The shopper base of the Soroksár store is primarily the population of the nearby districts and towns, but many come from other cities easily accessible via the motorway, e.g. Cegléd or Kecskemét.
According to the latest study of the company, two thirds of the residents nearby the store know and like IKEA, while the concept and services of the furniture and home accessories company is entirely new for about 20% of them.
The massive Soroksár unit also includes a warehouse which allows customers to take full kitchen sets or wardrobes on site. Subsequently, most people go to the store on the weekend with specific plans, and there are fewer spontaneous visits there.
The composition of the purchases also attests the pre-planned nature of shopping at IKEA. The products bought in the highest value have been couches, bed frames and wardrobe solutions. As per the highest quantity, the most popular products were kitchen appliances, mugs and plates, as well as candles that already signal the approaching winter and All Saints Day. Preparations for Christmas have already started, with the delivery of packaging materials and decorations, as shoppers tend to buy these ever earlier each year.
