Ikea cuts prices on hundreds of products in Finland

Ikea will lower the prices of hundreds of products in Finland from September, with average reductions of 15% to 25%. The company says the changes will not be a temporary promotion, but part of a broader review of its price levels.

The move comes after what Ikea described as several difficult years for Finland’s furniture and home-furnishing market. The company said it was responding to competition in the sector as consumers continue to scrutinize household purchases closely.

“Signs of recovery are already visible in Finland’s economy, but consumers are still considering household purchases carefully,” Ikea Finland chief executive Cas Lachaert said in a company statement.

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Signs of recovery are already visible in Finland’s economy, but consumers are still considering household purchases carefully.

Ikea said it would introduce price reductions in several countries at the same time, although the products and pricing will vary by market. Across the group, the effort represents an international investment of about 1.2 billion euros. AFP reported that the reductions cover Europe, with about 900 products affected in each market.

“The suppliers will not have to cut their costs because of Ikea’s price reductions,” Inter Ikea Group chief executive Jakub Jankowski told AFP.

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The suppliers will not have to cut their costs because of Ikea’s price reductions.