MANILA -- IKEA Philippines is planning to reduce the prices of some home essentials this year.

Speaking on ANC's "Business Roadshow," IKEA Philippines and Singapore country retail manager Gerard Jansen said they already slashed some of their prices in 2023 to help more Filipinos amid rising inflation.

"You know we’ve reduced I think 10 percent of our total range of products by at least 15 percent last year. 2023. It accounts for about 900 articles," he said.

"We will continue to support the many Filipino households, we are planning for 5 percent and a little bit more in 2024 to continue to reduce price, especially for those articles that are essential in every household," he added.

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Some of the items covered by the price cuts are plates, spoons, forks, pillows, mattresses, clothes storage items, and study tables for children.

"So I think that will support the Filipino households through these difficult times. And then we will continue our journey with e-commerce, and I suppose when we reach a sufficient volume then we will continue to see if we can expand further with physical stores beyond Manila," Jansen said.

IKEA Philippines has revealed that their online store in the Philippines has already reached major cities like Davao and Iloilo.

Jansen said they are expanding to Cagayan de Oro in 2 weeks.

"Cagayan de Oro, I think we’ve already, soon we will start in 2 weeks, February 1st, I think we’ll start providing services that are already available, for example, home delivery service and assembly service and through collection points also."

The executive also said they aim to put more collection points in other key cities in the Philippines.

--ANC, 17 January 2024