IKEA accelerates affordability efforts across Europe

With many people continuing to face pressure from higher living costs, IKEA is taking a significant step toward lowering prices across Europe. Starting on 1 September, customers in the region will benefit from price reductions of up to 25% on a wide range of selected products.

As part of a mutual effort to make IKEA products more affordable, Inter IKEA Group is reducing its purchasing prices for IKEA franchisees in Europe, while IKEA retailers across the region are making additional investments to lower prices. Together, these measures represent a total investment of approximately EUR 1.2 billion in lower prices for IKEA customers.

"Low price is at the heart of the IKEA vision to create a better everyday life for the many people. We are committed to making home furnishing products customers need and love more affordable, without compromising on quality, function, sustainability or design. Good design should not be a luxury," says Jakub Jankowski, CEO of Inter IKEA Group.

“At the same time, affordability is something we focus on daily across the IKEA value chain. Through continuous business improvements, we create efficiencies to lower our costs and pass more value on to customers. This combination of price reductions and value chain development is an important part of how we contribute to a better everyday life for the many people,” says Jakub Jankowski.

The price reductions are focused on Europe, where the IKEA value chain is well positioned to create impact at scale. Supported by a strong supply chain, it provides opportunities to test, learn and maximise value for customers. Across the region, all its IKEA franchisees have committed to lowering prices for customers, however, the products subject to price reductions, the timing and scale of those reductions, could vary by market and are decided independently by the respective franchisees. For more information about affordability initiatives in specific markets, please contact the relevant IKEA franchisee.