Ikea US will decrease prices on hundreds of products for customers and pay out a $54.5 million incentive to employees following a year with record sales.
The company achieved over $6.3 billion in total sales of goods and services in FY23, representing a 6.6 per cent increase over the previous year. E-commerce climbed by 3.3 per cent, while internet visitation increased by 6.3 per cent.
Higher sales demonstrate that Ikea remains an affordable option, effectively addressing consumers’ needs and providing as a trusted resource during financially difficult times.
“Lowering prices is not just a promotion, it is our promise to our customers,” said Javier Quiñones, CEO & chief sustainability officer, Ikea US.
“Our priority is to remain as affordable as possible and continue reducing prices whenever we can to ensure that our products are accessible to all and that dream homes are within reach for the many.”
This November, Ikea US relaunched New Lower Price, a commitment to affordability through price reductions on hundreds of Ikea products throughout the full range in all US stores and online.
The company announced a $2.2 billion investment in April to expand its presence in the US. It has established new stores in San Francisco, CA, Arlington, VA, and Southlake, TX, as well as over 20 Pick-up sites in various places, and has announced new store concepts coming to Fairfax, VA, Gaithersburg, MD, and Katy, TX.
