On Friday morning, the furniture and interior design chain Mio presented its sales figures for the first half of the broken fiscal year, covering May to October 2026. The figures show that the company's digital business continues to gain market share at a rapid pace.
Sales via mio.se increased by 46 percent during the six-month period, reaching SEK 827 million compared to SEK 566 million during the corresponding period last year. This means that e-commerce grew by SEK 261 million and accounted for just over 40 percent of the entire group's total growth during the half year.
The strong development online means that e-commerce's share of Mio's total sales has now risen to 21 percent, an increase from 17 percent the previous year. More than one in five krona spent at the furniture retailer now comes from the digital channel.
October saw a new e-commerce record
The growth rate in e-commerce also accelerated towards the end of the period. October became a new record month for online sales, with an increase of 51 percent to SEK 157 million, up from SEK 104 million in the same month last year.
Even considering the entire business, including the physical stores, sales increased during the half year. Total turnover rose by 18.5 percent to SEK 3,904 million, with in-store sales growing by 13 percent. Over a rolling twelve-month period, Mio now turns over SEK 7,449 million, an increase of 13 percent.
We are growing by almost 20 percent in a market that is developing positively but at significantly lower levels. We are now reaping the rewards of our long-term and conscious work to invest in our position as popular premium, characterized by affordability, quality and inspiration to help our customers create their dream homes. Both the stores and e-commerce report strong growth, which is a clear sign that we are doing the right things in our omnistrategy. An increased renewal rate in the range increases our relevance and creates strong visiting trends both to physical stores and to mio.se, says Björn Lindblad, CEO of Mio, in a comment on the figures.
Reaping the benefits of a new web warehouse
Today's figures are in line with the development that Ehandel.se reported earlier in the autumn. As early as September, it became clear that Mio's online sales had climbed by 40 percent during the initial months of the fiscal year. Behind the digital boost is, among other things, a comprehensive logistics investment with a new web warehouse dedicated to deliveries to collection points, which has shortened lead times and increased availability of the interior design range online.
In addition to logistics, the company has also carried out a major organizational change where previous franchisees have been gathered in an integrated group structure. After the first year as a unified company, the chain was able to distribute SEK 57 million in bonuses to employees this summer, something that management then directly linked to closer cooperation between e-commerce and the physical stores.
According to Björn Lindblad, it is precisely the interaction between digital traffic and the physical meeting that continues to drive the business forward in the autumn.
In the store, customers can try our products and be inspired together with our fantastic employees. Employees who create customer meetings where we have never seen better results than right now on our customer measurements, he says.
Forecasts historically strong result
How the increased e-commerce share and sales growth affect profitability on the bottom line remains to be seen. Mio will present its complete interim report in mid-December, but the CEO already flags that the figures will be top-notch.
We can already state that it will be one of the strongest interim results in Mio's history, perhaps even the strongest, concludes Björn Lindblad.