IKEA Canada extends price cuts with C$50m | finance news
Dwelling furnishings retailer IKEA Canada has introduced an further investment of C$50m ($37m) to scale back costs on more than 550 merchandise.
The transfer follows a vital C$80m price discount effort in 2024 encompassing more than 1,500 objects throughout the company’s product vary. In August, it introduced price reductions on a additional 800.
The Swedish retailer’s Canadian arm has launched an promoting marketing campaign highlighting its ongoing affordability dedication to be disseminated by way of its media channels from January to April 2025. It should showcase IKEA’s distinctive mix of high quality and design at accessible price factors.
IKEA Canada CEO and chief sustainability officer Selwyn Crittendon said: “Our products and home furnishing solutions bring joy to people every day and have helped millions to fulfil their dream of a beautiful and affordable home.
“As Canadians proceed to be further cautious about their spending, we stay dedicated to supporting them with unimaginable worth for money throughout our vary.”
Substantial savings are available in departments including IKEA kitchens, currently priced 25% lower than in the previous year.
The reductions apply to many items, such as the BRIMNES chest of drawers, the VESTERÖY hybrid mattress and the FRÖSET easy chair.
IKEA Canada has also ventured into financial services with an initiative to make home furnishings more accessible with flexible financial options.
“IKEA Canada extends price cuts with C$50m investment ” was originally created and published by Retail Insight Network, a GlobalData owned brand.
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