Home furniture retailer IKEA Canada has announced an additional investment of C$50m ($37m) to reduce prices on more than 550 products.
The move follows a significant C$80m price reduction effort in 2024 encompassing more than 1,500 items across the company's product range. In August, it announced price reductions on a further 800.
The Swedish retailer’s Canadian arm has launched an advertising campaign highlighting its ongoing affordability commitment to be disseminated through its media channels from January to April 2025. It will showcase IKEA's unique blend of quality and design at accessible price points.
IKEA Canada CEO and chief sustainability officer Selwyn Crittendon stated: "Our products and home furnishing solutions bring joy to people every day and have helped millions to fulfil their dream of a beautiful and affordable home.
"As Canadians continue to be extra cautious about their spending, we remain committed to supporting them with incredible value for money across our range."
Substantial savings are available in departments including IKEA kitchens, currently priced 25% lower than in the previous year.
The reductions apply to many items, such as the BRIMNES chest of drawers, the VESTERÖY hybrid mattress and the FRÖSET easy chair.
IKEA Canada has also ventured into financial services with an initiative to make home furnishings more accessible with flexible financial options.
