In everything we do, we are guided by our vision of creating a better everyday life for the many people. Our founder Ingvar Kamprad had a dream about furnishing and supporting people to create a better home, no matter the size of the wallet.
“We side with the many people. Our vision and purpose remain a strong as ever – to cater for the dreams, needs and frustrations people have in life at home”
– Tolga Öncü, Retail Operations Manager, Ingka Group (IKEA)
As people and as a business we have been through challenging times and we, as many companies, two years ago had to increase prices. A tough decision as it’s in our DNA to be as affordable as we possibly can.
In FY23, Ingka Group focused a lot on reducing operational costs and improving efficiency – by investing in technology and training for our co-workers, repurposing our stores and introducing more affordable services. At the same time, there is positive economic developments connected to the supply landscape.
“We feel we have an opportunity to make a bigger step in lowering our prices across many markets. There is still economic turbulence in the world, and we know that people struggle with making means last, which makes this price reduction an important move forward for us,” says Tolga Öncü, Retail Operations Manager, Ingka Group (IKEA).
Which and how many products it is will vary from market to market, as it’s dependent on local economic conditions such as inflation and currency effects. For example, in Czechia, more than 3.300 products or one third of the range has had its price reduced from September 1. These include popular bedroom, living room and storage product families such as HEMNES, MALM, KALLAX or PLATSA.
In Slovakia, more than 1.200 products now have lower prices, as the price of some iconic products, such as the LACK wall shelf, has dropped by as much as 25%. Hundreds of products have their prices reduced in China, France, and many other markets around the world.
The area of storage will remain in focus during FY24 that started on September 1. Through customer feedback and our Life at Home research we see that the many especially seek smart storage solutions and ability to declutter their home at an affordable price.
Ingka Group will continue focusing on keeping its costs as low as possible and offering the best possible prices to its customers.
About Ingka Group
With IKEA retail operations on 31 markets, Ingka Group is the largest IKEA retailer and represents about 90% of IKEA retail sales. It is a strategic partner to develop and innovate the IKEA business and help define common IKEA strategies. Ingka Group owns and operates IKEA sales channels under franchise agreements with Inter IKEA Systems B.V. It has three business areas: IKEA Retail, Ingka Investments and Ingka Centres. Read more on www.Ingka.com.