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Ikea lowers prices on another 400 products for Easter holidays

Ikea has announced significant price reductions on 400 popular products before Easter holiday, including its iconic Billy Bookcase, as it aims to pass on savings from reduced inflation. These cuts come as part of the retailer's new lower prices initiative, launched in January, which has already seen reductions on 1,500 items. The company credits improved purchasing costs in 2023, following pandemic-related challenges, for enabling these savings. Michaela Quinlan, Ikea UK and Ireland's CCO emphasised the company's commitment to affordability, stating that the goal is to make items as accessible as possible to customers. These reductions are seen as a continuation of Ikea's strategy to offer more affordable pricing on high-demand products.

Photo © Flavijus |

Despite economic difficulties, Ikea's UK profits doubled in January, reaching £111.2m in operating profit for the 52 weeks ending 31 August. This growth is attributed to the company's focus on value and cost efficiency, along with investments in its UK store network and online presence. Overall, Ikea's approach to passing on savings to consumers while strategically investing in its operations has proven successful, leading to strong financial performance amidst challenging economic conditions.

Source: RetailGazette

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