Ikea slashes prices for hundreds of products: 'Just shocking'

Ikea announced Wednesday that it will start marking down hundreds of products in stores globally.

Ikea is luring shoppers who are frustrated with stubborn inflation. The company is slashing prices on hundreds of products and promising it's just the start.

Customers like Taylor Byrne are documenting big discounts on home goods from the Swedish furniture giant.

"They've already had low prices for as long as I can remember," Byrne said. "I have went in recently and noticed even lower prices was just shocking."

Ikea tells ABC News it is reducing prices for customers globally, with plans to continue lowering prices on hundreds more products in the coming months.

Ikea says it is part of an effort to roll back price hikes introduced in the wake of the pandemic when inventory was low and raw-material costs were surging.

Now, with shelves stocked again, the company hopes to appeal to shoppers whose budgets are under strain.

"They're realizing that their customer is price sensitive," said Hitha Herzog, chief research officer at H Squared Research. "Having less expensive furniture will keep them coming back over and over again."