Inflation is everywhere, with shoppers seeing prices rising all around them. While some retailers may try to sneak these price hikes past their customers, other stores are being more transparent.
In fact, a handful of retailers have flat-out declared that they are raising prices. So, there is no excuse for being surprised if you have to dig a little more deeply into your wallet the next time you shop at the following retailers.
The famous and well-loved seller of ready-to-assemble furniture is hiking its pricing.
In a recent press release, Ingka Group — which owns Ikea — announced that prices will rise in 2022 “across Ingka Group markets,” with an average increase of around 9% globally. Precise increases will vary from market to market, depending on factors such as commodity and supply chain issues in the local community.
In a press release, Tolga Oncu, retail operations manager at Ikea Retail, says:
“We are taking this difficult step right now to ensure we can live up to our purpose to create a better everyday life for the many people, and to safeguard our competitiveness and the resilience of our company. However, affordability will always be a cornerstone for us.”
For more options, check out “4 Ways to Save More Money at Ikea.”
The apparel retailer says it has spent three months testing to determine which product categories customers are willing to spend more on.
In an interview with CNBC, Jeff Gennette, Macy’s chief executive, says:
“We’ve clearly been through these inflationary cycles before, and so we have a lot of experience with it. And with fashion, sometimes you can pass that on, and you can get a higher ticket and a higher sale price.”
CNBC reports that this lingerie chain is hiking prices on bras and underwear. The move already has resulted in higher revenues.
In a well-publicized — and for the frugal among us, heartbreaking — decision, Dollar Tree announced last fall that it will raise prices $1.25 for “a majority” of the items it sells.
The retailer notes that for 35 years, it was able to hold its prices to $1. But Dollar Tree says the streak is over and the decision to move to a higher price point is “permanent.”
Some Dollar Tree stores already are charging $1.25 for items, and the rest of the stores nationwide will follow by the end of the first quarter.
For help keeping your costs down despite the increases, check out “How to Beat Price Inflation at the Dollar Store.”