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 “hit peak red meat, peak sugar, peak stuff …”. Howard added that his comments did not contradict Ikea’s target of almost doubling sales by 2020 suggesting that the company was “…increasingly building a circular Ikea where you can repair and recycle products”. There is a global growth opportunity ... Ikea has introduced a series of environmental policies in the last year, pledging to invest €1bn (£755m) in renewable energy and measures to help poorer communities deal with the impacts of climate change. The Swedish furniture giant is also working on an initiative called ‘Green House’, which aims to make all new homes more energy-efficient.
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 “hit peak red meat, peak sugar, peak stuff …”. Howard added that his comments did not contradict Ikea’s target of almost doubling sales by 2020 suggesting that the company was “…increasingly building a circular Ikea where you can repair and recycle products”. Ikea has introduced a series of environmental policies in the last year, pledging to invest €1bn (£755m) in renewable energy and measures to help poorer communities deal with the impacts of climate change. The Swedish furniture giant is also working on an initiative called ‘Green House’, which aims to make all new homes more energy-efficient.