IKEA announces deeper price cuts

IKEA has been cutting prices a bit each year and is now ramping up efforts to appeal to budget-minded families around the globe by offering dramatic price decreases on some big-ticket items, says CEO Mikael Ohlsson. The chain has also taken note of a growing trend of multigenerational living, which is increasing demand for practical pieces such as double sinks for bathrooms and sofa beds with built-in storage.

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