IKEA Hungary invested more than 5.2 billion forints in price reductions in the 2024 financial year in the name of affordability

By: Trademagazin Date: 2025. 02. 10. 11:52

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In the 2024 financial year, IKEA Hungary invested nearly 12 million euros in price reductions, prioritizing affordability over profit. This strategic move supported a 2.3 percent increase in store visits, reaching 8.3 million. Online shopping also surged, with nearly 379,000 orders, accounting for almost a quarter of all customers. Sales fell by 5.4 percent to HUF 138 billion, compared to HUF 145 billion in 2023.

“In the 2024 financial year, we boldly invested in the future to make IKEA more affordable, accessible and sustainable. It has never been more important for us to stand on the side of people. Our unique business structure and financial independence allow us to make decisions and investments for decades, so we can focus on our business and our customers in the long term,”
– said David McCabe, CEO of IKEA Czech Republic, Hungary and Slovakia, adding:
“I am very pleased that the Soroksár store renovation process has been completed. It will now operate as Europe’s largest fulfillment store, providing faster online deliveries on the Hungarian market and increasing its previous capacity by 80 percent.”

Affordability initiative

In the 2024 financial year, IKEA reduced its prices in the Hungarian market in several stages, affecting 20 percent of the product range. From 1 January 2025, further price reductions came into effect, this time for 251 additional products. The average price reduction as a result was 17.5 percent between September 1, 2023 and January 1, 2025.

“This strategic initiative underscores the company’s commitment to affordability and customer satisfaction. As we enter the new year, we continue to strive to make our products accessible to as many consumers as possible. Since September 1, 2023, we have invested more than HUF 6.7 billion in price reductions,”

commented David McCabe.