Ikea lowers product pricing in India by 16–39%

Ikea, a Swedish furniture store, has reduced the cost of several of its over 9,000 items available in India. The price reductions in several product categories range from 16 to 39%.
According to Susanne Pulverer, chief executive and chief sustainability officer of Ikea India, the price reductions were made possible through improvements in sourcing, design, product development, packaging, and volume.
In addition, Pulverer noted that the price reductions are unrelated to inventory control, which occurs when a shop provides things at a reduced price for a brief time.
The Ikea CEO also noted that “Indian consumers are highly price sensitive” and claimed that competition pressures were not the reason for the price reduction.

This news is written by Mr. Manpreet Rathor, Research Assistant, All India Legal Forum.