Standing on the side of customers, IKEA has invested more than 2.1 billion euros in reducing prices

In a year characterized by economic uncertainties associated with higher interest rates and rising inflation, as well as a 3.8 percent decline in the home furnishing market, the largest IKEA retailer, the Ingka Group, has set itself the goal of reducing customer prices and increasing growth through more affordable, accessible and by creating a more sustainable IKEA.

“We live in times when dreams and ideas about a better life at home are more important than ever. Inflation and interest rates affect people’s budgets and we want to support our customers as best we can during these difficult times. Our investment in price reduction is one of our long-term promises. This fiscal year has proven that IKEA’s vision for the future, as well as the strength of our community and entrepreneurial spirit, will stand the test of time.”

– said Jesper Brodin, CEO of the Ingka Group.

At the same time, the Ingka Group expanded its market presence and reached even more people by investing more than 1.3 billion euros in the renovation of existing stores, expansion and digital developments. The retailer has opened 43 new locations worldwide, including new stores in Japan, Switzerland and China, as well as design studios in the US and Italy, among others. With the design studio, the company group enables its customers to design the home of their dreams and order any IKEA product. In order to enhance the customer experience, Ingka Group introduced new fulfillment solutions and technologies controlled by artificial intelligence. These include tools for faster pickup and delivery, self-service digital kiosks that help you find products in stores, and demand sensing solutions for better product availability. All this led to the fact that customer satisfaction metrics reached the highest value in the last five years in the financial year 2024.