NETHERLANDS - Ingka Group, the largest Ikea retailer, faced challenges and increased prices two years ago, a tough decision for a company deeply committed to affordability.

Recently, positive economic trends and reduced raw material prices in the supply chain have emerged. Tolga Öncu, Ingka Retail Manager, reveals the company's focus on cost reduction and efficiency improvements, allowing it to pass on savings to customers with another wave of price cuts – the second in five months.

The goal is to restore prices to pre-pandemic levels adjusted for inflation by the end of next year. This move aligns with Ikea's commitment to affordability, with the company investing in price reductions across its range, making thousands of products more accessible globally.

The scale and specifics of the price adjustments vary based on local economic conditions. Ingka Group emphasizes its dedication to navigating with thinner margins to provide support during challenging times, aiming to gain market share while becoming even more affordable without compromising quality or sustainability.

Ingka Group also plans to offer the lowest possible prices on products that contribute to saving energy and water, promoting a more sustainable life at home.