Vision and mission statement
IKEA’s vision is to create a better everyday life for many people. According to IKEA, “Our business idea supports this vision by offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them. IKEA is currently working on shifting to 100% circularity and use only renewable and recyclable products by the year 2030.
Achievements in Sustainability
IKEA offers a wide range of variety of exquisitely designed and affordable furnishing products to customers across the globe. To keep doing so, they recognize that in this world with bare minimum resources, they have to adapt to a circular economy. IKEA is already doing an immaculate job in shifting.
More than 60% of their range is based on renewable material, and 10% consists of recyclable material. IKEA will allow customers to resell products no longer in use to them. This plan is already in action. They are already selling second hand or refurbished products in stores giving them a second life. For instance, in IKEA Retail Japan, customers in exchange for undesired products get a voucher from IKEA to spend in the store.
In the year 2019, they managed to recover and resell more than 47 million products around the world. IKEA also has a repair service that helps buyers to increase the life of the commodity they are buying. They sell over a million spare parts annually. They have a variety of lines and ranges that contain sustainable products. An example would be their magnificent JOFRID series, which is crafted out of linen made from flax and sustainable cotton. The dyes also in the series are made out of agricultural waste, like orange peels and nutshells. A kitchen range, KUNGSBACKA, made out of recycled PET bottles and restored wood was recently made accessible to purchase. This range focused on eliminating the use of virgin oil-based plastics. In the line of recycled PET bottles, IKEA’s TOFTLUND rugs made by the same but provide absolute comfort and brighten up your home. IKEA, with a partner, developed a biodegradable fire retardant that does not use the same toxic chemicals as normal fire retardants making the fibers of the goods recyclable after its use. IKEA was honored with “The Accenture Strategy Award” for its contribution to the field of the circular economy. IKEA is also dedicated in reducing its food waste and plans to reduce up to 50% by August 2020. They recently committed to zero-emission home deliveries and have successfully reached their goal in Shanghai. IKEA is constantly working with designers, customers, and engineers to revolutionize their product range and become an advocate for change.
