IKEA announced on Thursday that it will raise its prices by an average of 9 percent across its global markets after being hit with supply chain issues that are currently wreaking havoc across the world, prompting businesses to increase costs for customers. In a statement, Ingka Group, which owns most IKEA stores, noted that in the past 18 months “our homes have become more important to us than ever” amid constant COVID-19 pandemic-related lockdowns, and IKEA has in turn seen an increase in demand for its products from consumers, such as workplace and outdoor furniture and storage solutions. “Like many other retailers, Ingka Group has faced an unprecedented demand for products. And while IKEA has shipped more than ever before, it was still not possible to meet the needs of all customers,” the statement read. In an effort to meet soaring demand and customer needs, Ingka Group made “significant investments in physical and online retail operations”, …
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