IKEA Singapore is cutting prices on more than 550 popular and essential items to help customers deal with rising living costs. The price reductions come as part of IKEA’s effort to support households during tough times.
This move comes as Ikano Retail, the company that operates IKEA stores in Singapore and other countries, reported a slight revenue increase of 1.3% year-on-year, closing its financial year with a turnover of EUR 1.09 billion (SGD 1.57 billion) across its markets, including Singapore, Malaysia, and Thailand.
CEO Christian Roejkjaer said, “We’re passing on savings where we can because we know how tough it can be for households with thinner wallets.”
The price cuts include everyday items like the MALM bed frame and GLIMMA tealights, as well as lower delivery fees to help customers save more.
A similar initiative took place at IKEA Philippines last month, where the company reduced prices on essential items to support Filipino households facing rising living costs.
“Our commitment to making quality home essentials more affordable is a reflection of our dedication to the many Filipinos,” Country Retail Director, IKEA Philippines and Singapore, Gerard Jansen, said last month.
Source: IKEA
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