Good news for home decorators: Fans of IKEA's ready-to-assemble furniture can expect lower prices in the near future. The company said it is dropping prices by 2% to 3% this year, and anticipates similar price cuts next year, across its product range despite rising costs of materials. The reason? Mikael Ohlsson, CEO of the Swedish company, said operations improvements and corporate thriftiness allowed the company to pass savings on to customers.

The store has 37 locations across the United States, making it the second largest market for the Swedish emporium after Germany. A new store is scheduled to open in Denver this fall. The store is hoping to make a strong push into the American kitchen market, where Ohlsson sees ample opportunity for growth.

"A kitchen is one of the bigger investments you make. And as people in the U.S. are changing homes less often than in previous years, the need to refurbish one's kitchen is much greater," Mr. Ohlsson said in an interview with The Wall Street Journal. "We want to be there," he added.

IKEA's clean and simple designs - along with its international presence - have created a community of fans online as well. Modifying or improving on IKEA's furniture has become something of an art at IKEAHackers.net, where consumers around the world post and share photos of modified furniture and other products.

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18 Comments

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Leslie

IKEA's Low Prices to Drop Even Further
That sounds like good news to me. but when?
http://www.awholesalecompany.com

August 30 2011 at 12:25 AM Report abuse rate up rate down Reply
Leslie

IKEA's Low Prices to Drop Even Further
That sounds like good news to me. but when?

http://www.aholesalecompany.com

August 30 2011 at 12:23 AM Report abuse rate up rate down Reply
dwyerf

Ikea's quality isgood and it is not meant to be 'heirloom' furniture. Their storage systems are great and it is easy to furnish a child's room without spending a fortune. Anyone who cannot put together pieces from Ikea need to return to their Lego sets.

July 06 2011 at 9:23 PM Report abuse rate up rate down Reply
captmerit

all junk

July 06 2011 at 2:27 PM Report abuse rate up rate down Reply
richperry05

i have purchased 2 complete bedroom sets from ikea. the are junk, the y look good and east to assemble but wont last 3 years. im talking 19 and 20 year old using the sets, and they are nevwer home. save up your money and buy real firniture that will last a lifetime

July 06 2011 at 11:17 AM Report abuse rate up rate down Reply
llozano

I guess you can always lower wages and make your employees work harder and destroy more forests in the process to lower your prices.

July 06 2011 at 9:02 AM Report abuse rate up rate down Reply
kencayetruitt

Our family members all agree the IKEA has something for everyone ! Our problem is we await the day when they build a facility in the area somwhere near Santa Barbara or perhaps th City of Ventura,Ca

July 06 2011 at 12:22 AM Report abuse rate up rate down Reply
1 reply to kencayetruitt's comment
Setanta

while you're waiting,drive around and find better constructed anything than the junk iKEa sells for big bucks.

July 06 2011 at 1:17 AM Report abuse +1 rate up rate down Reply
gardenberg

the Denver IKEA is opening July 27th according to the big sign on the building....we are so excited

July 05 2011 at 11:55 PM Report abuse rate up rate down Reply
antares1140

I am 70 yrs. old and I have put Ikea kitchen items together without problems, probably due to the engineering genes I got from my Dad. No, I was not an engineer just an observant biologist.

July 05 2011 at 10:31 PM Report abuse +1 rate up rate down Reply
jktejas

IKEA is for a young market....and ideal for singles and couples living in smaller spaces like urban apartments, college dorms, etc. No....it is definitely not made like heirloom furniture.....but it is so functional and versitile that when I'm in IKEA I find myself fantasizing about being in that age group again and putting a whole apartment together with all that wall to wall shelving that creates the look of custom made decor.

July 05 2011 at 9:43 PM Report abuse +1 rate up rate down Reply