IKEA economics

I knew IKEA was a crazy place, but it gets crazier. Ironically, when it rains, IKEA reduces the price of umbrellas with half. I find it hard to believe that IKEA do not know basic economics. Rain presumably increases the willingness to pay for umbrellas, so a rational  reaction to rain would be to increase the price.  (What about efficiency?) Perhaps the stunt is meant to get people to smile while they’re waiting at the register. Or perhaps it is just the occasional diversion IKEA executives afford themselves on a boring day. Or, perhaps it is meant to attract gamblers? The rain may stop before you reach the counter.


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