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IKEA India, a retailer of furniture and home furnishings, announced a price cut ranging from 16 to 39 per cent across categories on Tuesday. The price drop comes after a gap of one and a half years.
Store and organise furniture; storage solutions; living room seating; bedroom furniture; office storage; kitchen accessories; children’s storage; and more are among the categories. IKEA has lowered its prices in accordance with recent unprecedented situations, such as the pandemic, rising costs of living, supply chain disruptions, and increased inflation.
“Prices have been lowered for many products without an end date as part of our long-term steps to make home furnishings more affordable and accessible for the Indian market. It is applicable for both its offline and online offers,”said Susanne Pulverer, CEO and CSO, IKEA India.
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As to the possible expansion of its customer base through the initiative, Pulverer said, “We don’t have a target figure for this but we hope that more people will become our customers.”
Omnichannel experience
According to the company, the initiative is aligned with its omnichannel experience for consumers and the low prices are also reflected in its food offerings and services.
“We constantly challenge ourselves to find new ways to keep production costs as low as possible. Local sourcing, new and innovative solutions and materials, construction techniques, distribution, and transportation are some of the ways that help IKEA keep a competitive price point. We will continue to invest in creating a positive impact on society and the economy,” explained Pulverer.
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Recently, the company also announced its plans of entering the Chennai market. She noted, “So we hope to grow where we are already present and also expand into new markets. As to how we would ideally like to enter the Chennai market, it is both through physical stores and online. “ Currently, IKEA has stores in Hyderabad, Navi Mumbai, and Bengaluru and is online in Mumbai, Pune, Hyderabad, Gujarat, and Bengaluru.
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