Tidbits of Grand Forks - September 13, 2018

Page 1

TIDBITSGF.COM

Of Grand Forks • East Grand Forks Published by: Wick Publications

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Since 1997

1003 S. Washington St. Grand Forks, ND (across from Gerrells)

701-740-0968

wickpub@yahoo.com

Issue # 1,085

TIDBITS SHOPS AT ®

by Janet Spencer

People value products they assemble themselves nearly 63% higher than comparable pre-built furniture. This is known as the IKEA effect, and was discovered accidentally by a Swedish man named Ingvar Kamprad.

OUR FOUNDER

• Ingvar Kamprad was born in Sweden in 1926 and grew up on the family farm named Elmtaryd near the village Agunnaryd. He was an entrepreneur from the beginning. As a youth he bought matches in bulk and peddled them in smaller packages for a profit. He began a bicycle route selling matches, and then added pens and pencils, ornaments, seeds, and fish. • At 17, his father rewarded him for getting good grades with a gift of cash, and Ingvar used the money to open a mail-order business. He derived the name for the business from his initials, along with the initials for the family farm and the local town: IKEA. • He sold many items, such as wallets, watches, stockings, and jewelry, and later he added simple, functional furniture built by local craftsmen. Soon the furniture out-sold everything else. In the 1950s he dropped the entire product line except for stylish home furnishings.

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