The Swedish chain has informed its customers that they will pay more for their shopping in 2022.
The IKEA store chain is increasing prices by 9%, on average, for its products worldwide, due to the increased costs from the crisis in the supply chain.
Like other low-profit companies, Ikea, the world's largest furniture maker, is struggling to absorb the rising costs of problems in global supply chains.
Price increases of 9% will help offset the significantly higher costs of transportation and raw materials. The company says it has kept prices stable since the pandemic, but can no longer absorb the costs.
"Unfortunately, now, for the first time since higher costs began to affect the global economy, we need to pass on part of this increased cost to our customers," said Tolga Öncü, Ikea Retail Manager. As he explains, this move will ensure "competitiveness and sustainability" of Ikea, but adding that "affordable products will always be a cornerstone for us".
According to cnn.com, Ikea finds unprecedented demand for home-related products such as furniture, storage equipment and home-related items, so it may not always be able to meet demand.
"Our intention is to return to the customer any price reductions that may occur," Öncü said.