According to IKEA ’s head of sustainability , the appetite of Western consumers for home furnishings has reached its peak . Steve Howard claims that the West has “ " peak red meat , peak sugar , peak stuff … ” . Howard added that his comments did not contradict it ’s goal of almost doubling sales by 2020 suggesting that the company was “ … increasingly building a circular Ikea where you can repair and sell products ” . Ikea has introduced a series of environmental policies in the last year , pledging to invest € 1bn ( £ 755 m ) in renewable energy and measures to help poorer communities deal with the impacts of climate change . Howard’s comment looks like an example of a “Ratner moment”, named after Gerald Ratner’s description of goods at his jewellery stores as “crap” in 1991. It has also promised to become completely reliant on clean source energy in it stores and factories by 2020 and phase out use of non - LED light bulbs .
According to IKEA ’s head of sustainability , the appetite of Western consumers for home furnishings has reached its peak . Steve Howard claims that the West has “ " peak red meat , peak sugar , peak stuff … ” . Howard added that his comments did not contradict it ’s goal of almost doubling sales by 2020 suggesting that the company was “ … increasingly building a circular Ikea where you can repair and sell products ” . Ikea has introduced a series of environmental policies in the last year , pledging to invest € 1bn ( £ 755 m ) in renewable energy and measures to help poorer communities deal with the impacts of climate change . It has also promised to become completely reliant on clean source energy in it stores and factories by 2020 and phase out use of non - LED light bulbs .