DALIAN, China -- Swedish furniture giant IKEA plans to tap demand among increasingly frugal Chinese shoppers for low-priced products, aiming to invest 270 million yuan ($37.9 million) yearly in development and sales as it releases over 500 new affordable items by August 2025.
Retail
IKEA to launch 500 new low-priced products in China over next year
Young consumers tighten purse strings as the economy struggles
IKEA's China subsidiary plans to invest 270 million yuan a year in development and sales of low-priced products. © Reuters
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