Ikea has elevated the costs of its furnishings by as much as 80% during the last 12 months, analysis has discovered.
The Swedish retail large has blamed “surging raw material and transport costs” in addition to the battle in Ukraine and inflation for the rise in costs.
The price range homeware retailer’s Jokkmokk eating desk and 4 chairs set elevated from £99 in 2021 to £179 in October 2022, a rise of 80%, in accordance enterprise intelligence website Retail Week.
The value of Ikea’s Glostad two-seat couch was hiked from £90 in 2021 to £150 in October 2022, a 66% enhance, as its Brimnes chest of 4 drawers rose 47% from £85 to £125.
Meanwhile its Fyresdal day-bed body elevated from £150 to £219 and its Slattum upholstered mattress body went from £129 to £189, each rising 46%.
“We offer a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible are able to afford them. This remains our focus today and in the future,” an Ikea spokesperson informed the publication.
“However, we’re not proof against the macro-economic developments that companies, retailers and the general public are at the moment dealing with, from the elevated price of supplies and transportation to the battle in Ukraine and inflation. It is vital that we’re financially resilient for the long run, to make sure our longevity as a enterprise and employer, and we’ve got needed to modify our costs to replicate this elevated price base.
“Our approach during this period has sought to protect the prices of our most-loved and lowest-priced products and families.”
The agency mentioned costs proceed to be a “key cornerstone” of its enterprise and it meant to maintain them as little as it may possibly and even cut back them when potential.
It mentioned it had not too long ago carried out new affords to assist consumers throughout the price of dwelling disaster by means of its Ikea Family loyalty scheme.
Source: information.sky.com”