New York CNN —Last year, Ikea slashed prices on roughly 2,000 products to give inflation-weary customers a break.
Ikea, the world’s largest furniture retailer, said that it doesn’t have any regrets about prioritizing “lowering the prices” in a $2 billion discount initiative at all of its stores globally.
Like its rivals, Ikea gradually hiked prices since the peak of Covid-19 in 2020 as the costs of materials and transport rose.
The company’s major discount program last year cut prices on several of its most popular items, like its Billy bookcase.
Ikea sold 1.2 billion meatballs for the year, with a company spokesperson telling CNN that it also sold more meals at its cafés.
Persons:
Jesper Brodin, Billy bookcase
Organizations:
New, New York CNN, Ikea, Ikea’s, CNN
Locations:
New York, Swedish