Finland is one of the fastest growing markets globally for the Swedish furniture retailer Ikea. Ikea’s sales in Finland increased by 19% during its financial year ending in August 2011, reaching a total of EUR 250 million. The number of customer visits also grew at the same high pace to a total of 6.5 million customers.
According to André Schmidtgall, Ikea’s country director in Finland, the company is pleased with the development of its market share in Finland. Ikea is currently planning the next steps in expanding its operations in the country but Schmidtgall does not want to reveal any details as yet.
Schmidtgall believes that financial crises are a threat but they also create opportunities for Ikea as people focus more on getting value for money in their purchases. This suits Ikea’s business idea perfectly. Ikea has also benefited from bankruptcy disputes affecting two of its Finnish competitors, Masku and Suomi-Soffa.