Ikea's unique approach to inflation involved absorbing costs rather than passing them on, resulting in two price cuts this year totaling €2 billion, boosting customer loyalty.
Brodin emphasized that tariffs complicate Ikea's ability to keep prices low, stating, "...tariffs make it more difficult for us to maintain low prices and be affordable for many people...".
Despite the financial hit, with net profits plummeting by 47% to €800 million, Ikea remained committed to customer-centric strategies during economically challenging times.
Concern over potential trade tariffs has led Brodin to warn, "We have never experienced a period of benefit when we had high tariffs...".
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