PH by The Novogratz
Ikea is the iconic Swedish furniture brand known for its low prices, flat-pack shipping, and tiny screwdrivers. Millions of people have braved the maze-like big box store searching to furnish their first apartment or simply to find affordable Scandinavian home furnishings. But the Ikea bubble may have burst because the brand’s rock bottom prices have risen to a new high. According to a recent report from Retail Week, the retailer raised prices on some products up to a whopping 80 percent. While not every price increase was so shocking, prices went up at least 22 percent across five of Ikea’s main categories including sofas, beds, dining furniture, drawers [dressers], and mattresses.
It’s worth noting that this research was conducted in the UK and price increases on specific items may or may not apply to the United States market. However, an Ikea spokesperson confirms