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He gave the example of Belgium, where price cuts took effect on Feb. 1—IKEA was able to significantly lower prices on parcel deliveries from €9.99 ($10.81) to €2.99 ($3.24).
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The company passed on the costs of supply chain snarls, the closure of its Russia business and high energy costs in 2022, which helped swell its profits by 9% that year.
Ingka Group's Deputy CEO said people were buying more storage solutions because high house prices had kept them in small spaces.
Ikea said it would be up to its franchisees to decide whether they wanted to pass on higher transport, raw material, and other costs to shoppers. Ikea has warned of imminent price hikes amid ...
Ingka Centres, IKEA's malls division, announced in December 2021 that it would open two malls, anchored by IKEA stores, in Gurugram and Noida in India at a cost of around ₹ 9,000 crore (US$1.0 billion). Both malls are expected to open by 2025.