IKEA Sales Decline 5% Amid Price Cuts and Weak Housing Market

The Swedish retailer invests billions in discounts to attract customers as economic pressures mount.

IKEA's global sales fell to €39.6 billion for fiscal year 2024, marking the first decline since the pandemic.
The company slashed prices on over 2,000 products, investing €2.1 billion to support inflation-weary consumers.
Store visits increased by 3.3%, and online sales rose to 28% of total sales, highlighting a shift in consumer behavior.
IKEA plans to continue price reductions and expand with new store openings in city centers like Paris and London.
The retailer anticipates a sales boost in 2025 as lower interest rates may encourage more home purchases and furniture sales.