IKEA Singapore Cuts Prices for Over 140 Products in Response to Inflation

Acknowledging Singaporeans’ tussle with the rising cost of living and the global inflation crisis, furniture giant IKEA Singapore lowered the prices of over 140 products since last month, according to a report by The Straits Times.

The report likewise stated that by 2024, 60 more products will also have price cuts.

Products like the Malm Drawer Chest had price cuts of about 20%, with its retail price dropping to S$199, compared with its original price of S$249. The Kallax Shelf Unit also dropped from S$109 to S$89, while the 45-litre Samla box dropped to S$8.

On IKEA Singapore’s website, these and many other products that had their prices slashed, such as bookshelves, racks, chairs, curtains, and more, are put under a special section labeled “We lower prices where we can.”

“I think 2023 was the year where we turned the corner on prices and started lowering them again,” said Inter IKEA Group’s chief executive officer Jon Abrahamsson Ring in a statement to Bloomberg. This is in conjunction with the lowering prices of IKEA products globally since May this year.

To purchase these discounted products, visit their online store or head over to IKEA stores near you!