Swedish home furnishing retailer IKEA announced a lower price without an appropriate end date for some of its products as part of long-term strategic plans for the Indian market.
The company stated that the initiative is not going to be a short-term discounting activity but aims to increase affordability, especially during this pandemic, when there is a downfall spending on home furniture.
The company announced lower prices starting today for products across categories such as chairs, toys, matters, bookshelves, sofas, any other furniture for bedroom, living room, kitchen, and outdoors.
They would be available in Hyderabad outlets and the online stores in Hyderabad, Mumbai, and Pune.
“Lowering prices without compromising quality is a step towards improving affordibility. The changing vustomer mindset with pandemic has made affordibility more significant” Kavita Rao the country commercial manager head stated.
Flat packing, strong service officer, transparent pricing are some of the ways to help IKEA keep a competitive price point.
Out of 7,500 products that sell IKEA sell in India, and about 1000 are priced less than Rs200 and 500 costs under Rs100.
With the work from home concept, which is gaining acceptance from all segments, the company is tilted more towards online sales, which has grown significantly as the uptake in work from the home range has increased substantially.
The company recently introduced the online home furniture and remote planning services in Mumbai, Hyderabad.
Mumbai has the first IKEA market to introduce online out physical stores.
While e-commerce and omnichannel are seeing good traction both in terms and number of values, orders, and inventory system, which has helped the company manage the stock efficiently, that supplier sent products only after orders are placed, leaving no room for stocks to pile up.