Today, we are making a full commitment to decreasing our prices in an era of inflation and rising prices. Since people are worried about the economy and inflation, we should act quickly to buck the trend and reduce prices as much as we can. This is the first step in making Ikea India more accessible to Indian consumers, according to Susanne Pulverer, CEO and CSO of Ikea India.
Ikea’s decision to reduce costs comes months after such initiatives globally. The Financial Times reported in October that Ikea lowered pricing on several important products as shipping costs declined and the cost of essential materials’ inflation slowed.
Source: The Economic Times
Ikea frequently reduces the price of its products. Ikea’s entire business strategy is based on providing customers with more affordable goods. The pandemic’s effects during the past two years, including supply chain disruptions and a global rise in commodity prices, have plagued producers of a variety of items. As a result, consumer demand decreased as everything became more expensive, including fuel and travel. Commodity prices have decreased, and supply chain volatility has decreased. Companies are now willing to give customers the advantages.
u201cNo one is immune to the price increases… But now is the time where we have more stability and have a possibility to lower prices and we are happy to take this step, Pulverer said. A wider range of product categories that have seen price reductions include living room accessories, storage, kitchen, mattresses, and bedroom furnishings. The Ikea executive, however, omitted to disclose how many items had price decreases.
According to Pulverer, the furniture merchant, which runs five offline outlets, has completed its planned Rs 10,500 crore investment cycle for the nation. According to her, the final of the stores in New Delhi won’t open for roughly 30 to 36 months. After the investment is finished, the company will decide whether to expand further. Meanwhile, Pulverer noted that India is an important growth market and is here for the long term.
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