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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]
A popular item for this purpose is a small rubber ball, known as a spaceball (a trademarked product). Some cabinet makers will also use small pieces of cork to allow for movement. The panels are usually either flat or raised. A flat panel has its visible face flush with the front of the groove in the frame. This gives the panel an inset appearance.
In 2016, IKEA started a move into the smart home business. The IKEA TRÅDFRI smart lighting kit was one of the first ranges signalling this change. [98] IKEA has also started a partnership with Philips Hue. [99] The wireless charging furniture, integrating wireless Qi charging into everyday furniture, is another strategy for the smart home ...
The acronym IKEA is made up of the initials of his name (Ingvar Kamprad) plus those of Elmtaryd, the family farm where he was born, and the nearby village Agunnaryd where he was raised. [ 8 ] [ 11 ] Between the founding of IKEA and his board resignation in 1946, Kamprad was an author.
The IKEA effect was identified and named by Michael I. Norton of Harvard Business School, Daniel Mochon of Yale, and Dan Ariely of Duke, who published the results of three studies in 2011. They described the IKEA effect as "labor alone can be sufficient to induce greater liking for the fruits of one's labor: even constructing a standardized ...