Ikea to Drive China Furniture Costs Lower as Price War Deepens

Ikea to Drive China Furniture Costs Lower as Price War Deepens

Ikea to drive China furniture costs lower

Ikea pledged to keep prices lower at its China stores, as the world’s largest furniture retailer courts thriftier buyers and seeks to fend off competition from local rivals, reports Bloomberg. The Swedish company will commit €20 million ($23.4 million) in the fiscal year starting Sept. 1 to efforts to slash prices further in the market, […]

IKEA Allocates $22.4M for Price Cuts in China

On September 3rd, Ikea’s operations in China announced a plan to invest 160 million yuan (approximately $22.4 million) to lower product prices across the Chinese market during the upcoming fiscal year. The company will allocate 70 percent of this investment toward enhancing its most popular products to stay competitive with local rivals. For the next year starting September 1st, Ikea China intends to launch over 1,600 new furniture and home appl…

Ikea Invests to Lower Prices in China

Ikea, the world’s largest furniture retailer, has pledged to keep prices low at its stores in China. The Swedish company aims to attract more budget-conscious customers and defend its market share against increasing competition from local rivals. Ikea faces challenges in China due to weak consumer spending, a cooling property market, and slowing economic growth, which have reduced demand for major home goods purchases. Ikea is known for its read…

Ikea to drive China furniture costs lower as price war deepens

Ikea pledged to keep prices lower at its China stores, as the world’s largest furniture retailer courts thriftier buyers and seeks to fend off competition from local rivals.