IKEA Price Increases Are Going Viral — Here's How Much Your Favorite Couch Costs Now: 'Inflation Is Crazy' A video with a customer complaining about "inflation" and "corporate greed" has racked up over 1.3 million views on TikTok.
By Emily Rella
Opinions expressed by Entrepreneur contributors are their own.
A TikTok highlighting price increases at IKEA is going viral after one creator had an eye-opening online shopping experience at the furniture retailer.
A video by a TikToker named Jules has racked up over 1.3 million views after showing viewers what happened when she went to reorder a mattress that she first bought in 2021 to get the same one for her children.
The shopper said that, in 2021, the mattress cost $170 and when she went to check last month, she was shocked at how much the price had increased in just three years.
@ustolemysandwich inflation bb!!! #greenscreen ♬ original sound - jules
"Now that same mattress is $249, it's $70 more or 40% more than it was in November 2021," she explained. "This is just another example of why it is so expensive to be an adult and 2024."
Related: How to Inflation-Proof Your Small Business
Viewers were outraged at the massive price increase in 26 months, with many accusing the retailer of hiking up prices at the customer's expense to keep up with competitors.
"People have to stop saying inflation and start calling it corporate greed," one viewer wrote. "It's a perspective that needs to be addressed."
"Going through the same thing, inflation is CRAZY," another said.
Currently, mattresses on IKEA's website range in price from $99 to $1,049.
In November 2023, IKEA rolled out a "New Lower Price" initiative in which the retailer would add red banners to certain products online with the original higher price listed below the new lower price.
The decision came after IKEA had been found to have hiked prices up to 80% more since 2021.
Related: Restaurants Are Adding 'Inflation Fees' to Customer Checks
"Lowering prices is not just a promotion, it is our promise to our customers," said Javier Quiñones, CEO & chief sustainability officer, of IKEA U.S., in a release at the time. "Our priority is to remain as affordable as possible and continue reducing prices whenever we can to ensure that our products are accessible to all and that dream homes are within reach for the many."
IKEA did not immediately respond to Entrepreneur's request for comment.
