IKEA continues to cut prices in response to economic pressures

Amid economic pressures and reduced consumer spending, IKEA, under the stewardship of Ingka Group, has initiated multiple rounds of price cuts since the start of the fiscal year in September. IKEA has responded to the challenging economic landscape by lowering prices, with the intent to support consumers' purchasing power. Tolga Öncu, Ingka Retail Manager, stated, "This fiscal year for us is the year of lowering prices long-term and becoming even more affordable for our customers. It is not about optimizing profits." The strategy has resulted in increased sales volumes and a closer alignment with consumer needs during tough ...