The iconic Swedish furniture and home goods store has taken an exciting turn to make your decorating plans more affordable than ever, just in time for holiday shopping.
In the final days of this year 2023 and during 2024, IKEA will rebound the price increase in the store chain over the last months and begin cutting prices on certain items in September.
Inter IKEA’s annual profits double: the revolution begins!
The reason behind the good news is that during 2023, Inter IKEA saw a remarkable increase in its annual profits, giving the company the opportunity to make its coveted products even more affordable.
After a challenging 2022 with high costs and factory closures in Russia, the company has undergone an impressive financial transformation.
Clear strategy: IKEA’s sales in progress
The strategy to make your favorite Swedish furniture more affordable is clear: sales! With the easing of cost pressures, Inter IKEA has already begun to lower prices for its franchisees in the last four months of its financial year. While it will take some time before customers feel the full impact of these reductions in stores, the company hopes customers will enjoy lower prices in the coming year and beyond.
Jon Abrahamsson Ring, CEO of Inter IKEA, revealed how they are working to turn the situation around after starting 2023 with higher prices than desired. “We entered 2023 with higher prices than we wanted. We have lowered prices at the end of 2023 and into 2024. Supply costs started to come down for us,” he shared with Fast Company.
IKEA’s irresistible discounts: up to 20% off on some products
So, how much could you save on your future purchases? Up to 20% off has already been applied to some products. And the good news doesn’t end there: Inter IKEA plans to continue lowering prices as costs continue to decrease.
In addition to these irresistible discounts, IKEA demonstrates confidence in the future by opening 60 new locations in 2022, in contrast to the massive closure of over 2,000 retail stores in the United States between April 2022 and April 2023. While others predict a decline in retail, IKEA is expanding its physical presence.
In summary, the world-leading brand in furniture and home décor is paving the way for a year full of style and savings. Let the shopping begin, and may your home look more incredible than ever.