IKEA invests 1.2 billion euros in price cuts across Europe

The Swedish home furnishings retailer IKEA has announced that it is investing 1.2 billion euros in price cuts across Europe. Depending on the country and product category, prices will fall by an average of 15 per cent to 25 per cent.

Despite a fall in turnover

IKEA has announced a new round of price cuts in Europe, which could amount to as much as 28 per cent on around 1,500 products. The retailer has set aside a budget of 1.2 billion euros for this. This is the second price cut in two years for the company, which earlier this year announced a cost-cutting plan involving the loss of 850 jobs. Last year, price cuts led to a fall in turnover for the group.

From 1 September, prices across Europe for popular and iconic Ikea products – including Billy bookcases, Kallax storage solutions and kitchenware – will be reduced by between 15 and 28 per cent. The range of products and the discounts may vary by market.

Significant price cuts

In Belgium, for example, starting today, nearly 850 products will be cheaper in stores and online, with more than a hundred additional products to follow in the coming months, IKEA Belgium announced in a press release. Most of the price cuts will be permanent. In addition, 58 products will have a separate, temporary price reduction that applies exclusively in Belgian stores through the end of December.

The price cuts are clearly marked in stores, online, and in the app, so customers can easily find them. They apply to product families that many people use at home every day, such as sofas, rocking chairs, cabinets, and other products for the living room, bedroom, kitchen, and smart storage solutions. Some prices are dropping significantly: the Bestå storage boxes, for example, are 53% cheaper.

Helping households manage their budgets

Between September 1 and December 31, 2026, an additional 58 products will receive a price reduction that applies exclusively in physical IKEA stores in Belgium. The Billy bookcase will drop from 44.49 to 39.99 euros, and the Antilop high chair from 19.99 to 14.99 euros.

“We know that many Belgian households are managing their budgets very carefully these days. With this investment, we want to ease that pressure a bit. We’ve made a conscious decision to help alleviate some of that pressure ourselves by lowering the prices of products that people use every day at home,” says Kurt Vanhaeverbeke, Country Commercial Manager at IKEA Belgium.