Ikea Raised Some Of Its Prices By 80 Percent: Here’s Where To Shop For Affordable Furniture Instead

Real Estate

Ikea is the iconic Swedish furniture brand known for its low prices, flat-pack shipping, and tiny screwdrivers. Millions of people have braved the maze-like big box store searching to furnish their first apartment or simply to find affordable Scandinavian home furnishings. But the Ikea bubble may have burst because the brand’s rock bottom prices have risen to a new high. According to a recent report from Retail Week, the retailer raised prices on some products up to a whopping 80 percent. While not every price increase was so shocking, prices went up at least 22 percent across five of Ikea’s main categories including sofas, beds, dining furniture, drawers [dressers], and mattresses.

It’s worth noting that this research was conducted in the UK and price increases on specific items may or may not apply to the United States market. However, an Ikea spokesperson confirms to Forbes that prices increased nationally in 2022. “Affordability continues to be a key cornerstone for us at Ikea, and our intention remains to keep our prices as low as we possibly can. It’s more important than ever before, as many people face rising living costs and increased inflation. We are not immune to the economic challenges facing businesses, retailers, and many people. To ensure our longevity as a business and employer, we have adjusted our prices to help address increased costs. While we have raised prices on some products, we have also taken steps to make our total offering more affordable for customers every day. Our offer will continue to remain affordable for our customers— reducing prices when and where we can.”

So, if Ikea is no longer in your budget, or you’re looking for affordable yet stylish furniture, here are seven places to consider shopping instead.

The Novogratz

Founded by renowned interior design duo Courtney and Robert Novogratz, The Novogratz is a hidden gem full of stylish statement pieces at excellent prices. For those who don’t want to compromise on style or price, there is no better place to shop for furniture and accessories. The brand offers large pieces starting at $399 for a loveseat and $149 for a coffee table. There are items across most categories including home office, outdoor furniture, wallpaper, kid’s furniture, and even lighting. With many smaller pieces, it’s also an excellent place for apartment-dwellers to shop.

In 2022, the brand launched a collaboration with Paris Hilton called PH By The Novogratz. The line features several fun pieces including a pink velvet bed and futon that’s very reflective of Hilton’s aesthetic but definitely not her bank account.

Tov

Tov is a smaller female-founded brand with lots of fun, fabulous pieces priced within reach. While the brand has a generous range of furniture across a variety of categories, it’s still far more curated than most online retailers.

Madison Beer and Dixie D’Amelio are fans of Tov’s glamorous yet chic aesthetic which is essentially the complete opposite of Ikea. From lip-shaped sofas to bold tassel table lamps, Tov truly puts the fun back into design. Prices start at under $700 for a sofa and $340 for a desk.

Wayfair

To say Wayfair sells everything but the kitchen sink is inaccurate because, in addition to furniture and home decor, they also sell kitchen sinks. The mega brand is known for its frequent sales. So items that may not be within budget this week may very well be affordable in a week or two, making Wayfair potentially a better deal than Ikea.

A company spokesperson tells Forbes, “Wayfair aims to give customers competitive prices all year round and run promotions both at key holiday moments and throughout the year as consumers prepare for seasonal moments like outdoor entertaining, spring cleaning, back to school, or home renovation projects requiring new large appliances or even custom cabinetry. This year, in particular, we know customers are seeking strong deals ahead of the holidays and we brought back our biggest sale of the year for the holidays for the first time ever.”

Levity

Levity is the sister brand to cult-favorite washable rug purveyor Ruggable. Frankly, there isn’t a better place to shop for durable pieces that will stand up to kids and pets. Pricing for chairs starts at $199 and $159 for tables. While the selection is limited (Levity only has living room and dining room furniture for now), every piece is machine-washable and stain-resistant.

The chairs and ottomans feature interchangeable, spill-proof covers designed to withstand everything from oil to red wine and pet accidents. This also means there’s an option to refresh with new slipcovers instead of replacing entire pieces, making Levity a very cost-effective and eco-friendly option for the long haul. Even the tables are scratch-resistant, heat-resistant, and repel liquids. No coaster? No problem.

HomeGoods

HomeGoods is a fun store to shop at that’s filled with great deals. While the brand recently launched an e-commerce site, the heart of HomeGoods will always be the in-store experience. Best of all, the prices are difficult to argue with. Andrew Mastrangelo Assistant Vice President, Global Communications TJX tells Forbes, “At HomeGoods, we deliver incredible value on an ever-changing selection of exciting top brands and home fashions from around the world, at prices generally 20 to 60 percent below full-price retailers’ (including department, specialty, and major online retailers) regular prices, on comparable merchandise, every day.”

HomeGoods also curates its inventory globally, so while there are plenty of mainstays like Rae Dunn pottery, there are also many treasures waiting to be discovered. Mastrangelo explains, “Our team of expert finders scour the globe throughout the year for the most interesting, fashionable merchandise from top brands, designers, and artisans alike – for every room in the home. Unlike other types of retailers that buy seasonally, we have new home fashions arriving several times a week, with each delivery containing thousands of items.”

World Market

With 242 retail locations, World Market is a great alternative to Ikea. While the selection isn’t as large as what Ikea offers, this can be a good thing for those who get overwhelmed by too many choices. Prices are very reasonable with coffee tables starting under $200 and dining tables starting under $300. While World Market doesn’t have a signature aesthetic, there are lots of mid-century inspired, contemporary and eclectic pieces that can easily integrate into many design schemes. The store also sells lots of decor, snacks and items perfect for gifting.

Overstock

Overstock sells just about everything at a price that begs customers to click “add to cart.” From bed to bath and even flooring and refrigerators, this site has it all. With frequent sales and coupon codes, it’s certainly worth scouring for large and small pieces. The e-commerce site also has sets typically found at brick-and-mortar discount furniture stores like three and five-piece bedroom sets, patio furniture sets, and even a small space living section great for apartments and condos.

Home Depot

While many think of Home Depot as a place to buy home improvement items like wood, appliances, and power tools, the retailer also has furniture at an accessible price. From entryway tables starting at less than $50 and bookcases starting under $70, it’s a good place to consider if budget is key. While most items aren’t offered in-store, they can be returned in-store, making Home Depot a convenient choice for many. The online selection is also astounding with thousands of options in select categories.

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