For years, consumers and businesses have been struggling to keep up with the rising costs of everything.
Inflation, tariffs, and now high energy prices have added up to harsh economic headwinds.
This is making life hard for a company like IKEA, which has a stated mission of keeping prices low.
It's not that the world is getting more affordable, it's the opposite.
And the majority of the people, the many people, you know, are struggling to kind of the end of the month.
So that's why affordability and to get value for money, it's even higher in the agenda.
That's Juvencio Maestu, the CEO of the Inca Group, the largest IKEA retailer in the world.
Last week, I spoke with him about how IKEA is meeting its customers at this moment.
We have a say normally that we sell umbrellas in IKEA,
and we normally reduce the price of the umbrella when it 's actually rainy.
So we like to do a bit the opposite, because it 's in the times
that you have to really stretch yourself to be closer to the customer.
Lowering prices for umbrellas when it's raining.
In the world of capitalism, it's kind of counterintuitive.
The challenge before Juvencio is making sure IKEA can deliver on its promise of affordable prices
while still keeping the company profitable.
Welcome to The Journal, our show about money, business, and power.
I'm Ryan Knudsen.
It's Thursday, April 3rd.
Coming up on the show, a conversation on staying affordable in unpredictable times with IKEA's Juvencio Maestu.