IKEA’s head of sustainability reckons that western consumers are at the limit in terms of stuff they can actually buy, a situation he’s referred to as “peak home furnishings.”
Speaking at a conference organized by The Guardian, Steve Howard from IKEA explained:
“If we look on a global basis, in the west we have probably hit peak stuff. We talk about peak oil. I’d say we’ve hit peak red meat, peak sugar, peak stuff … peak home furnishings.”
That’s not to say that he sees IKEA selling less, adding that “on a global basis, most people are still poor and most people actually haven’t got to sufficiency yet. There is a global growth opportunity ... but it’s a distribution issue.”
In fact, the Guardian reports that IKEA plans to almost double its sales by 2o20. But it might mean that sales in the West plateau. Perhaps it’ll make money from hacking existing products rather than selling new ones?
Image by Jason Farrar