The cost of live has skyrocketed for everyone and now one major chain announced it is reducing prices on thousands of products with an $80 million investment.
In an announcement, IKEA Canada says they will be slashing prices on over 1,500 IKEA products to help make life a little more affordable for Canadians.
While Vancouver Island doesn’t have an IKEA, many residents hop on the ferry just for a special visit the to giant Swedish retailer.
Some of the items you’ll see prices slashed on include furniture, lighting, cookware bedding and more.
IKEA made the move after a recent report from the company found that 45% of Canadians state that their household finances and disposable income are a top concern, while 37% express concern about the state of the country’s economy.
“We know that in Canada, the cost of living and affordability is more important than ever as many Canadians face rising living costs and increased inflation,” said Selwyn Crittendon, CEO and chief sustainability officer at IKEA Canada, in a news release.
“Many are facing an affordability crisis and are struggling with fundamental costs such as housing, fuel, health, and food.”
The company added that, despite the need to adjust some prices to reflect increased costs for businesses, retailers, and consumers, they are committed to lowering prices where possible.
This multi-million-dollar initiative, requiring an investment of $80 million, will lower prices on numerous items, including the iconic STRANDMON chair and the popular BILLY bookcase, as well as a variety of products from lighting to cookware and bed textiles.
Canadians are beginning to experience the benefits of these price cuts, with significant reductions already implemented for favorites such as the BILLY Bookcase (now $199, down from $249), the STRANDMON Armchair (reduced to $349 from $399), the VITTSJÖ Laptop stand (now only $29.99, previously $59.99), and the RANARP Work lamp (now $39.99, down from $49.99).
Here are the price reductions for 17 products out of 800+ currently listed on the IKEA website:
- BILLY Bookcase with glass doors — $199.00 (Previous price $249)
- STRANDMON Armchair — $349.00 ($399)
- VITTSJÖ Laptop stand — $29.99 ($59.99)
- RANARP Work lamp — $39.99 ($49.99)
- SKUBB Box, set of 6 — $9.99 ($11.99)
- EKOLN Soap dispenser — $8.99 ($9.99)
- HEAT Trivet, 19 cm (7”) — $2.99/3 pack ($3.99/3 pack)
- IKEA 365+ Frying pan, 28 cm — $19.99 (Previous price $24.99) + various IKEA 365+Frying pan sizes are reduced.
- MILSBO Glass-door cabinet, 73×175 cm (28 3/4×68 7/8“) — $249.00 ($299.00)
- EKET Cabinet, 35x35x35 cm (13 3/4×13 3/4×13 3/4“) — $30 ($40)
- PAX / GRIMO Wardrobe, 100x60x236 cm (39 3/8×23 5/8×93 1/8“) — $455.00 ($525) + reductions for various combinations of PAX / GRIMO Wardrobe
- BRIMNES Daybed frame with 2 drawers, Twin — $379.00 ($429.00)
- MORABO Sofa — $1,199.00 ($1299) + reductions for various combinations
- DVALA Duvet cover and pillowcase(s), Full/Queen (Double/Queen) — $34.99 ($39.99)
- SVALKA Wine glass, 44 cl (15 oz) – $9.99/6 pack ($11.99/6 pack)
- STOENSE Rug, low pile, 200×300 cm (6‘ 7“x9‘ 10“) — $199.00 ($229.00)
- Price reductions for SEKTION Kitchen cabinets – various
All reduced-price items are listed online here.
