IKEA Store in Nanning, China

Video taken on March 20, 2024 shows the IKEA Nanning store at Pingle Avenue in Wuxiang New District in Nanning, South China's Guangxi Zhuang autonomous region. Ikea will continue to cut prices globally and try to lay out smaller stores in China. In fiscal year 2024 (September 1, 2023 to August 31, 2024), IKEA plans to continue to invest in prices in global markets, driving a low price strategy by reducing costs in both raw materials and operations. In the Chinese market, after announcing price cuts for more than 300 products at the beginning of the 2024 fiscal year, it has recently announced that it will invest more than 100 million yuan to expand the scope of price investment. Ikea China is trying to expand its business format by laying out smaller stores.