As a thank you for a record-high sales year, IKEA U.S. is lowering prices on hundreds of products for customers and giving many employees a bonus.

The total amount of the bonus payout is expected to be $54.5 million through its “One IKEA Bonus,” a performance-based payout.

In FY23, IKEA U.S. had a record year achieving over $6.3 billion in total sales, a 6.6% growth from the previous year.

E-commerce was also up by 3.3% and online visitation increased by 6.3% compared to last year.

“We are proud to share the success of another strong sales year with our co-workers and customers. When times are tough, we view it as our responsibility to provide quality and affordable home furnishing solutions and services that make everyday life at home a little easier, said Javier Quiñones, chief executive officer and chief sustainability officer, IKEA U.S.

“Lowering prices is not just a promotion, it is our promise to our customers. 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.”

Throughout the month of December, IKEA will offer discounted items as part of a “24 Days of Deals” promotion and its annual Winter Sale.

In addition, co-workers across two-thirds of IKEA U.S. units can expect to receive the bonuses.

“Our co-workers are the heart of IKEA and our success in the U.S. is a reflection of their commitment to our values and vision,” said Neena Potenza, chief human resources officer, IKEA U.S.

“By investing in our people, we are building an IKEA for the future. It is important that co-workers at all levels can be recognized and rewarded. Not only is it the right thing to do, but it is good for our business.”

Read more about how IKEA celebrates employees and customers at IKEA U.S.

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