Ikea India CEO emphasises home pride as key advantage, aims for greater accessibility and affordability

Ikea, the Swedish home furnishing giant, recently unveiled its 10th Life at Home report, shedding light on the evolving dynamics of how Indians perceive and live in their homes.

With 50% of Indians considering their homes as their favourite place and an impressive 63% expressing positivity about their current lives at home, the report provides valuable insights into the nation's lifestyle preferences.

One of the standout findings of the report is the profound sense of home pride among Indians. Susanne Pulverer, CEO of Ikea India, emphasised this sentiment, stating that the fact that Indians prioritize their homes as the most important place in their lives is a significant advantage for Ikea.

Despite challenges related to accessibility and affordability, Pulverer expressed confidence in Ikea's ongoing journey to make its products more accessible and affordable for a broader segment of the Indian population.

As priorities evolve, so do the dynamics of homes. The report highlights the continuous transformation of homes over the years.

In response to the changing landscape, Ikea announced a significant price reduction of up to 20% on more than 250 articles. This move, disclosed by Ingka Group deputy CEO and CFO Juvencio Maeztu at the World Economic Forum in Davos, is aimed at addressing concerns related to high inflation and interest rates. Maeztu emphasised Ikea's long-term vision to create a better life for people and the company's commitment to affordability.

Susanne Pulverer reiterated Ikea's commitment to inclusivity, stating that the brand aims to be inviting to a wide range of customers. With approximately 1,000 products priced below ₹200, Ikea intends to provide an entry point for many Indians to experience their products.

In a separate development, Yannis Dosios, Chief Commercial Officer (CCO) of Integral Ad Science (IAS), shared insights into the opportunities, challenges, and impact of artificial intelligence on the adtech industry. IAS, a global media measurement and optimisation company, collaborates and provides actionable data to drive superior results for some of the world's largest advertisers, publishers, and media platforms.