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IKEA Canada invests over $80M to reduce prices on over a thousand products

EKHET wall-mounted shelving on wall with framed pictures.
Corporate newsLife at home, RetailJanuary 24, 2024
The multi-million-dollar investment will support reducing the price on over 1,500 products including IKEA Democratic Design icons, storage solutions and home furnishing accessories.

IKEA Canada has begun a long-term journey throughout 2024 to reduce the prices of products across the entire IKEA range. The multi-million-dollar investment will see price reductions on over one thousand products from classic IKEA Democratic Design icons including the STRANDMON chair, the much-loved BILLY bookcase, and several items from lighting, cookware, bed textiles and many more.  

The recent IKEA Life at Home Report notes that 45% of Canadians say their household finances and disposable income are a top concern, while 37% are concerned about the state of the economy in the country. Securing the lowest price has been a pillar of the IKEA brand’s Democratic Design philosophy for the past eight decades. Despite the need to adjust some prices that reflect the increased costs facing businesses, retailers, and consumers the retailer is committed to lowering prices where possible and looks forward to taking price reductions that make it even more attainable for the many Canadians to shop with IKEA.  

“We know that in Canada, the cost of living and affordability is more important than ever as many Canadians face rising living costs and increased inflation. Many are facing an affordability crisis and are struggling with fundamental costs such as housing, fuel, health, and food,” said Selwyn Crittendon, CEO and Chief Sustainability Officer at IKEA Canada. “We know that our products and home furnishing solutions bring joy to people every day and have helped millions to fulfil the dream of a beautiful and affordable home for more than 80 years globally and 47 years in Canada. We remain committed to maintaining our commitment to affordability and value for money that's so important right now.” 

Leading with lowest prices is increasingly vital and Canadians can already begin to see price reductions on some of their favourite IKEA products including:  

  • BILLY Bookcase with glass doors $199.00, Previous price $249.00.
  • STRANDMON Armchair $349.00, Previous price $399.00.
  • VITTSJÖ Laptop stand, $29.99, Previous price $59.99.
  • RANARP Work lamp $39.99, Previous price $49.99. 

This investment in price reductions is a significant milestone in IKEA Canada’s ongoing commitment to being an accessible home furnishing retailer with a focus on functional, high-quality products and services available at affordable prices. 

To discover more about lower prices, visit IKEA.ca/LowerPrices or your local IKEA Canada store.