Marketing

Ikea hikes price in new year

Photo by istock.com

January 11, 2022

It will cost a bit more to shop at Ikea in 2022 as the retailer is raising prices by an average of 9%.

The cost increase is in response to increasing raw materials and transportation costs, according to a CNN report.

"Unfortunately, now, for the first time since higher costs have begun to affect the global economy, we have to pass parts of those increased costs onto our customers," Tolga Öncü, retail operations manager at IKEA Retail, said in a statement. "Our intention is to give back to the customer any decrease in purchase prices we get," said Öncü.