{"id":566424,"date":"2021-06-17T13:48:18","date_gmt":"2021-06-17T13:48:18","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/ikea-has-cracked-the-code-on-what-we-value-most-in-our-possessions\/"},"modified":"2021-06-17T13:48:18","modified_gmt":"2021-06-17T13:48:18","slug":"ikea-has-cracked-the-code-on-what-we-value-most-in-our-possessions","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/ikea-has-cracked-the-code-on-what-we-value-most-in-our-possessions\/","title":{"rendered":"Ikea has cracked the code on what we value most in our possessions"},"content":{"rendered":"

<\/a> There\u2019s more to our love affair with Ikea than meets the eye: <\/strong>We\u2019re no stranger to Ikea, with the stores\u2019 winding interiors, flat-packed furniture, and of course their meatballs (or hot dogs, if you\u2019re the resident 14-year-old). Ikea\u2019s success was no accident, and the brilliance behind the brand lies in the tiny details that make up the entire Ikea shopping experience. But the important factor contributing to Ikea\u2019s success may not be the variety and affordability of its products, but rather, the fact that we\u2019re made to put them together ourselves, the BBC<\/a> writes.<\/p>\n

We\u2019re under the spell of \u201cthe Ikea effect\u201d: <\/strong>The term was coined in a 2011 journal article<\/a> that posits that \u201clabor leads to love,\u201d which is exactly the subtle charm of Ikea products. The idea behind the Ikea effect is that people place higher value on things they helped to build or create. Add on that the brand\u2019s tendency to give each product a name, and consumers began to view their material possessions as a friend that they worked to build. The Ikea effect was soon used to explain all sorts of product marketing successes or failures, and has managed to prove that convenience isn\u2019t always everything.<\/p>\n

But the idea predates Ikea: <\/strong>The notion that we value what we\u2019ve put some work into more than what is ready made was popularised after psychologist Ernest Dichter was hired by Betty Crocker in the 1950s<\/a> to improve the sales of their ready-made cake mixes. On Dichter\u2019s recommendation, the recipe was amended to require the addition of an egg (a form of labor), after which the cake mixes\u2019 popularity dramatically improved.<\/p>\n

Ikea\u2019s DIY ethos was actually born of necessity: <\/strong>When Ingvar Kamprad founded Ikea in 1943 as a mail-by-order store, furniture was seen as a luxury many people couldn\u2019t afford. Kamprad came up with the ingenious idea of deconstructing furniture pieces and flatpacking them to reduce shipping and storage costs, according to the Wall Street Journal (watch, runtime: 05:50<\/a>). The one drawback that ended up being one of Ikea\u2019s biggest appeals: customers would have to assemble the pieces themselves, albeit with manuals and tools provided. Though the average consumer was not used to being put to work, the idea caught on, and people began to enjoy the process of putting together something that they could show off in their home.<\/p>\n

The psychological explanation behind the Ikea effect: <\/strong>Humans have a need to feel competent, and even assembling a nightstand can boost our sense of self-efficacy, according to The Decision Lab<\/a>. Another driver for the Ikea effect is a specific type of cognitive dissonance, known as effort justification. Effort justification describes how people like to see a goal reached after they did something they found difficult or taxing. When finished, that nightstand represents the physical fruits of our labor that we mentally associate with our sense of accomplishment. And while this isn\u2019t always the case, it can often be quite fun to assemble a piece of furniture, adding another layer of happy memories to the aforementioned nightstand.<\/p>\n

Making end-consumers do more work, and end up happier for it, is probably every marketer\u2019s dream: <\/strong>The concept is reflected in the popularity of everything from DIY meal kits<\/a> to the enduring popularity of Lego.<\/p>\n

But there\u2019s a limit to how far the effect can go:<\/strong> Failing to properly build the furniture items or to complete the set task can lead to frustration, and perhaps more alienation from the brand.<\/p>\n

In the 2011 paper that popularized the Ikea Effect term, the authors observed \u2014 in an experiment designed to test the effect \u2014 that participants who spent too much time completing their task (in this case, making an origami paper crane) valued it less, and were less willing to pay for it in a mock auction. Designing items that present just the right amount of challenge that can be overcome may be the key to making us love them forever.<\/p>\n","protected":false},"excerpt":{"rendered":"

There\u2019s more to our love affair with Ikea than meets the eye: We\u2019re no stranger to Ikea, with the stores\u2019 winding interiors, flat-packed furniture, and of course their meatballs (or hot dogs, if you\u2019re the resident 14-year-old). Ikea\u2019s success was no accident, and the brilliance behind the brand lies in the tiny details that make […]<\/p>\n","protected":false},"author":1,"featured_media":566425,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10160],"tags":[4248,9173,633,1485,8360],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566424","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-consumerism","tag-consumerism","tag-economics","tag-enterprisepm","tag-ikea","tag-psychology","wpautop","entry"],"acf":{"mongo_id":"7bf05790-c155-4e46-b253-85fab70a9f10","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/6\/532.jpg","photo_position":"above","related_issue":[566411],"teaser":"","voice_url":""},"yoast_head":"\nIkea has cracked the code on what we value most in our possessions - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/ikea-has-cracked-the-code-on-what-we-value-most-in-our-possessions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ikea has cracked the code on what we value most in our possessions\" \/>\n<meta property=\"og:description\" content=\"There\u2019s more to our love affair with Ikea than meets the eye: We\u2019re no stranger to Ikea, with the stores\u2019 winding interiors, flat-packed furniture, and of course their meatballs (or hot dogs, if you\u2019re the resident 14-year-old). 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The exact nature of the expansion was not\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651655,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/17\/ikeas-new-venture-in-africa\/","url_meta":{"origin":566424,"position":1},"title":"Ikea\u2019s new venture in Africa","author":"enterpriseam admin","date":"17 February 2017","format":false,"excerpt":"Ikea is partnering with over a dozen African designers from seven countries for its new African line, Quartz\u2019s Lynsey Chutel writes. \u201cWe want to learn from the creative explosion which is taking place in several cities around Africa right now and spread it to the rest of the world by\u2026","rel":"","context":"In "SPEED ROUND, THE WEEKEND EDITION"","block_context":{"text":"SPEED ROUND, THE WEEKEND EDITION","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-the-weekend-edition\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":605122,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/23\/west-cairo-is-getting-an-ikea-as-marakez-al-futtaim-ink-agreement\/","url_meta":{"origin":566424,"position":2},"title":"West Cairo is getting an Ikea as Marakez, Al Futtaim ink agreement","author":"enterpriseam admin","date":"23 December 2018","format":false,"excerpt":"EXCLUSIVE- West Cairo is getting an Ikea. Fawaz AlHokair Group\u2019s Marakez has inked a long-term lease agreement with Al Futtaim Misr for Retail to open a 20k sqm Ikea store at Mall of Arabia in West Cairo, according to a statement (pdf). The outlet will be the second in Egypt\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/12\/807.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594621,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/ikea-opens-new-store-in-mall-of-arabia\/","url_meta":{"origin":566424,"position":3},"title":"Ikea opens new store in Mall of Arabia","author":"enterpriseam admin","date":"2 September 2019","format":false,"excerpt":"Swedish furniture and home accessories retailer Ikea opened a new store west of Cairo in the Mall of Arabia to serve customers in the area until its full-scale store opens its doors in 2020, Al Shorouk reported. Fawaz AlHokair Group\u2019s Marakez inked a long-term lease agreement with Al Futtaim Misr\u2026","rel":"","context":"In "Other Business News of Note"","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":592939,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/12\/marakez-signs-egp-395-mn-loan-with-emirates-nbd-egypt-for-new-ikea-store\/","url_meta":{"origin":566424,"position":4},"title":"Marakez signs EGP 395 mn loan with Emirates NBD Egypt for new Ikea store","author":"enterpriseam admin","date":"12 November 2019","format":false,"excerpt":"Fawaz AlHokair Group\u2019s Marakez has signed a EGP 395 mn long-term loan agreement with Emirates NBD Egypt to finance a 20k sqm Ikea store at Mall of Arabia, NBD corporate banking head Amr Azab said. Marakez inked a long-term lease agreement last December with Al Futtaim Misr for Retail, which\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":626536,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/04\/ikea-to-open-at-mall-of-arabia-by-2020\/","url_meta":{"origin":566424,"position":5},"title":"IKEA to open at Mall of Arabia by 2020","author":"enterpriseam admin","date":"4 July 2018","format":false,"excerpt":"Al Hokair Group\u2019s Marakez for Real Estate Investment signed an MoU with Al Futtaim Misr for Retail, to open an IKEA store at Mall of Arabia by 2020, according to a company statement (pdf). This will be the Swedish retailer\u2019s second store in Egypt following its Cairo Festival City store.","rel":"","context":"In "Other Business News of Note"","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=566424"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566424\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/566411"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/566425"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=566424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=566424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=566424"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=566424"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=566424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}