According to the CEO, IKEA India may enhance local production to lower retail pricing

According to a July 28 story in The Economic Times, IKEA India plans to improve local sourcing and lower product pricing in an effort to draw customers amid inflationary pressures that have tightened household budgets.

IKEA India Chief Executive Susanne Pulverer was quoted in the report as saying, "We are working to see how fast we can increase our local sourcing because that has all the benefits of creating lower prices, taking away so much transport, sustainability, job opportunities, and creating new production capabilities."

IKEA India reportedly raised the pricing of some of its products in response to rising inflation while at the same time covering the high inflation costs for other products.

IKEA is renowned throughout the world for its expansive stores that range in size from 300,000 to 400,000 square feet and are typically found on the outskirts of cities.

Everyone, even the corporation, is influenced by what is occurring in the globe, according to Pulver.

"We're doing our best to take it all in. We have also changed a few things, she added.

She continued, "We were always working to maintain lower prices in every sector, function, and category. Where possible, we have made adjustments, and we have protected (price points) so that they are still reasonable at lower prices.

On Thursday, the Swedish retailer will open its fourth location in the nation in Mumbai's R City Mall. The city will now have three stores.

According to reports, despite having three stores in Mumbai, the company still has expansion plans for the area.

"We can't declare we are done," Pulver added. We are aware that many people commute very long distances. We must be reachable. Mumbai has a population of 21 million, but we believe we can accomplish more. She made no mention of future expansion strategies, though. IKEA will have five functioning stores in the nation after the opening of the third store in Mumbai.

After Worli, IKEA India will open its second city store in Mumbai on July 28. In Navi Mumbai, the business opened a large scale store in 2020.