SINGAPORE: IKEA Singapore announced price reductions for 144 products in September, and more than 60 additional materials are expected to follow suit. by April 1st, 2024.
This follows IKEA’s announcement last year that some of its products do have their prices reduced; internationally.
According to Inter-IKEA Group CEO Jon Abrahamsson Ring,” I believe 2023 was the year we turned the corner on pricing and started lowering them afterwards.” referring to the general costs imposed on merchants like IKEA Singapore. & nbsp;
The world owner Inter-IKEA group is in charge of the supply and range for 12 IKEE franchisees located all over the world.
The furniture behemoth raised prices at the start of 2023 as a result of rising supply chain costs, but & nbsp; As” raw material prices, transport costs are going in the right direction ,” Mr. Ring told Bloomberg, costs have decreased since May.
This has resulted in a price decline for nbsp of up to 20 %; goods like & nbsp; In response to CNA’s questions, Mr. Gerard Jansen, retail director of IKEA Singapore, said on Tuesday( Oct 17 ) that the MALM chest of drawers was in white.
Those drawers now cost S$ 199( US$ 145 ) as opposed to their regular price of$ 249. Additional price cuts include & nbsp; The Kallax shelving unit costs between$ 109 and$ 89, whereas a 45-liter Samla field is now only$$ 8. & nbsp;
We usually pass on discounts where we can, Mr. Jansen said, adding that” we are overjoyed that retail prices will eventually come down on IKEA items in the future.” & nbsp;
He continued by saying that according to Ikea’s 2022 Life at Home report, 74 % of Singaporean respondents — over 1,000 — were surveyed and nbsp; expressed concerns about their family’s budget.
For the many Singaporeans looking to get the most for their home, these benefits definitely matter and count, so we work hard to keep rates as low as possible on vital and best-selling products, according to Mr. Jansen.
The IKEA perspective is to improve many people’s daily lives by providing a wide selection of well-designed, practical home decorating products at prices that are as affordable as possible. & nbsp;
” We keep our word that we’ll be the most accessible, affordable, and environmentally friendly home decorating shop in the nation.” “”