By GMA News
Ikea Philippines is looking to continue growing its top line this year while also focusing on making its products more affordable for its customers in the country moving forward.
According to IKEA Philippines country retail manager Gerard Jansen, the firm was looking at a modest growth of 4% to 5% this year after it recorded an P8.7-billion turnover in the financial year that ended on August 31, 2023.
“Of course we expect growth, but given the challenges, it’s a modest growth that we have actually budgeted for 2024 because we have started seeing that at the tail end of 2023,” he said in an interview with GMA News Online.
“We also in a way, you know, realized that there has been some buying behavior changes. What COVID has done is made a lot more people familiar to buy online products that they otherwise would not have if there was no COVID,” he added.
Among the factors that Jansen cited are the higher costs, along with the elevated inflation rates in the country with the February print recorded at 3.4%, faster than the 2.8% in January.
READ the full story HERE.
