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The IKEA effect is a cognitive bias in which consumers place a disproportionately high value on products they partially created. The name refers to Swedish manufacturer and furniture retailer IKEA, which sells many items of furniture that require assembly.
An unassembled IKEA flat-pack stool. Ready-to-assemble furniture (RTA), also known as knock-down furniture (KD), flat-pack furniture, or kit furniture, is a form of furniture that requires customer assembly. The separate components are packed for sale in cartons which also contain assembly instructions and sometimes hardware.
Rather than being sold pre-assembled, much of IKEA's furniture is designed to be assembled by the customer. The company claims that this helps reduce costs and use of packaging by not shipping air; the volume of a bookcase, for example, is considerably less if it is shipped unassembled rather than assembled.
The cost to IKEA of the incident was estimated to be between $6 and $7 million. [7] In 1999, IKEA replaced the lacquer coating on the white bookcase with melamine foil. [1] In 2009 Bloomberg instigated a "Billy bookcase index", as an alternative to the Big Mac index, to compare relative price levels in different countries around the world. [8] [9]
The IKEA stores in Russia were in connection with MEGA malls developed by IKEA. 5-6 new openings were originally planned by 2020. On 3 March 2022, INGKA holdings (parent company of IKEA Russia) announced that IKEA would suspend operations in Russia and pause sourcing in the country as a result of the Russian invasion of Ukraine . [ 138 ]
Wayfair Inc. is an American e-commerce company based in Boston, Massachusetts [6] that sells furniture and home goods online. Formerly known as CSN Stores, it was founded in 2002, and currently offers 14 million items from more than 11,000 global suppliers. [3]
The desk was removed from the White House after the assassination of John F. Kennedy, and went on a traveling exhibition with artifacts of the Kennedy Presidential Library. President Jimmy Carter brought the desk back to the White House in 1977, where it has remained since. Many replicas have been made of the Resolute desk.
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