Canadians across the nation are experiencing the impact of the increasing cost of living and inflation. With rent, groceries, and everyday products like furniture and home essentials costing more, it is no surprise that Canadian credit card debt is at an all-time high, underscoring the difficulty of making ends meet right now. In response, IKEA Canada recently announced that they are investing over $80 million to reduce prices on over a thousand products.
The Reason Behind the IKEA Canada Price Reduction
“We know that in Canada, the cost of living and affordability is more important than ever as many Canadians face rising living costs and increased inflation. Many are facing an affordability crisis and are struggling with fundamental costs such as housing, fuel, health, and food,” Selwyn Crittendon, CEO and Chief Sustainability Officer at IKEA Canada stated in a press release.
“Our products and home furnishing solutions bring joy to people every day and have helped millions to fulfil the dream of a beautiful and affordable home for more than 80 years globally and 47 years in Canada. We remain committed to maintaining our commitment to affordability and value for money that’s so important right now.”
Related: Transform the IKEA Lazy Susan Into a Stylish Book Organizer
The Best IKEA Canada Deals in 2024
With deals in categories from furniture to accessories and home storage solutions, we’ve rounded up our favourite IKEA Canada deals you can shop for right now.
VITTSJÖ Laptop Stand
Current Price: $30 (50% off from $60)
EKET Wall-Mounted Shelving Unit
Current Price: $35 (24% off from $45)
SVARTPOPPEL Cushion Cover
Current Price: $10 (23% off from $13)
RANARP Work Lamp
Current Price: $40 (20% off from $50)
BILLY Bookcase With Glass Doors
Current Price: $199 (20% off from $249)
SKUBB Box (Set of 6)
Current Price: $10 (16% off from $12)
HILJA Curtain
Current Price: $24 (20% off from $30)
STRANDMON Armchair
Current Price: $349 (12% off from $399)
PAX/GRIMO Wardrobe Combination
Current Price: $585 (12% off from $660)
BRIMNES Daybed Frame
Current Price: $379 (12% off from $429)
IKEA’s FINNALA Sofa Price Controversy
This isn’t the first time in recent weeks that IKEA’s product prices have been in the spotlight. In a December 2023 video that has been viewed over 124,000 times, home décor enthusiast and TikTok user @loljustmark from San Francisco said that he was surprised to see that the FINNALA sofa cost $1,599 USD. Replying to Mark, Los Angeles-based interior designer @jillian.dee created another TikTok where she delved into her collection of IKEA catalogues. She opened the 2019 issue to show a page with the same sofa advertised at $799 USD, which was 50 per cent less than the price in Mark’s video. The FINNALA sofa is currently listed for $1,799 on the IKEA Canada website.
As reported by Business Insider, IKEA explained that their post-pandemic price hikes in 2022 were due to the rising expenses of transportation and raw materials.
Related: IKEA Kids’ Room Essentials Every Parent (and Little) Will Adore
How to Save Money at IKEA
Luckily, there are still other ways to cut costs while shopping at IKEA. Our advice? Look through the retailer’s online “As-Is Marketplace” to find deals on items that were previously used in displays or are second-hand. Discounts will vary depending on the product and store location.
Images courtesy of IKEA
