My first thoughts were all Icelandic, along the lines of Bjork and Emiliana Torrini, but Lykke Li is not that like them upon repeat listening.
Certainly the 'little girl'-esque vocals put one in mind of Torrini, as does the slightly other-worldly diction, but ultimately, I found the lack of enunciation off-putting rather than charming.
The stripped-down production does work - we have some instruments dripping in reverb, others very bare - making for a fairly unique sonic palette. But again, I found it a bit grating by the end of a few listens. I welcomed occasional different voices like the trumpet and saxophone and choir-ish vocals with wide arms, as they appear from within a vacuum of the sound-world that has been created.
It's all about the percussion and the vocals on this album - bass notes and organs are used as percussively as the actual drums and percussion - and this does drive the whole thing along, but to where? Ultimately, the texture of the album smothers rather than seduces, and I cannot help but wonder what a different producer may have done with the material...
It's interesting, for sure, but produces interest rather than passion.
Having said all that, approach with an open mind, rather than caution.