IKEA Canada to Cut Prices on More Than 1,500 Products Citing Cost of Living

File photo dated 12/01/20 of signage for Ikea outside their store in Southampton. Ikea has said it is struggling to meet high demand for some of its products, especially mattresses, as Britons buy new furniture for the homes they spent much more time in during lockdown. Issue date: Monday September 6, 2021.

IKEA is promising price reductions on more than 1,500 products as part of an $80-million investment in its Canadian stores, citing cost of living concerns for customers.

The Swedish furniture giant made the announcement this week, citing a recent company report that said household finances and disposable income are a concern for 45 percent of Canadians.