IKEA Canada extends price cuts with an investment of 50 million Canadian dollars

Home furniture retailer IKEA Canada has announced an additional investment of C$50 million ($37 million) to lower prices on more than 550 products.

The move comes on the heels of a major C$80 million price reduction effort in 2024 covering more than 1,500 items across the company’s product portfolio. In August, it announced price cuts on another 800 items.

The Canadian arm of the Swedish retailer has launched an advertising campaign highlighting its ongoing commitment to affordability that will be rolled out across its media channels from January to April 2025. It will showcase IKEA’s unique blend of quality and design at accessible prices.

“Our products and home furnishing solutions bring joy to people every day and have helped millions realize their dream of a beautiful, affordable home,” said Selwyn Crittendon, CEO and Chief Sustainability Officer at IKEA Canada.

“As Canadians continue to be more cautious about their spending, we remain committed to supporting them with amazing value for money across our portfolio.”

Big discounts are available in departments including IKEA kitchens, which are currently 25% off the previous year.

The discounts apply to many items, such as the BRIMNES chest of drawers, the VESTERÖY hybrid mattress and the FRÖSET easy chair.

IKEA Canada has also entered the financial services space with an initiative to make home furnishings more accessible through flexible financial options.

“IKEA Canada Extends Price Cuts with $50M CAD Investment” was originally created and published by Retail Insight Networkwhich is a trademark of GlobalData.

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