[Post 274] Why You Spend So Much Money At Ikea
By Sonicericsg  •  July 26, 2022
Summary Ikea was founded in 1943 by a young Swedish man named Ingvar Kamprad. Today, there are 433 stores in 53 countries. The name Ikea comes from Ingvar's first and last initial, the farm he grew up on — Elmtaryd — and the village he lived near — Agunnaryd. Initially the company started by selling pencils and postcards. In 1948, it began selling furniture, and the rest is history. In fiscal year 2019, Ikea sold 7 million Billy bookcases, and brought in $45 billion in retail sales. At the heart of Ikea's success is value: You know what you're going to get when you shop at Ikea, and it's going to be affordable. In fact, price is so important to Ikea's strategy that the company first decides on the price of a piece of furniture and then reverse engineers the construction, the company says. Personal Takeaway 1.Offer high-quality design
Read the full article
By Sonicericsg
Hi everyone, I'm soniceric, my real name is of course not soniceric, it's just Ericsson :) The reason I name this blog as soniceric is a word play on the brand of "sony Ericsson" hence soniceric(geddit?) I am currently a 22 years old nsf who is about to ord soon and receiving a paltry ns allowance of $800 per month. To date, I have managed to save more than 10k and have already use the money for various purpose(emergency fund, peer to peer lending,posb invest saving and stocks, trading etc).

Your email address will not be published.


Your Email Address will not be published

Read More Articles
More from thefinance