The Swedish furniture giant will raise prices by an average of 9 percent across its stores worldwide due to problems in the supply chain, TV2 writes.
According to IKEA’s press contact in Sweden, Sandra Jakob, the price increase is necessary to combat higher costs in connection with freight and logistics as a result of the pandemic.
“Unfortunately, there has been a marked increase in costs across the supply chain, including materials, freight, and logistics. As this is still the case, it is necessary to raise the prices of many of our products,” Sandra Jakob says.
She adds that price increases are global, but that how much prices have been raised varies from country to country and from product to product.
IKEA has 454 stores operating in 60 countries. Besides the furniture giant’s total of 38 stores in the Nordic Region of Denmark, Sweden, Norway, Finland, and Iceland, IKEA operates in Thailand, Hong Kong, Singapore, Taiwan, Malaysia, China, Indonesia, and most recently in the Philippines.