In 2017 IKEA brought “IKEA. It’s that affordable.” campaign to the next level by creating and actually applying an entirely new currency to its price tags: The IKEA Affordable currency.” This massive in-store activation brought to the brand’s stores nationwide a new set of values that displays to its customers how much an item costs using the least expensive things in their lives as a monetary measurement. A table costs 3 coffees; a nightstand, 5 tubes of toothpaste; a bed, 31 stamps. The price tag change was used as simple visual tool that would appeal to everyone from our broad target audience interested in knowing exactly how much they can save by shopping at IKEA.
The Brief
Zero budget. Zero media budget. Zero cost per piece.
Creative Execution
To show how affordable Ikea products were we took the price and turned it into a new currency. A stool equals 3 coffees. A table five packs of toothpaste. A cupboard equals 5 pizzas. This way our customers understood that you get a whole lot for the price of everyday things. So we changed the prices for graphic symbols of everyday things. The customers could now easily work out how little Ikea products were. And when they looked at how much they were getting. They loved the new currency.
Describe the success of the promotion with both client and consumer including some quantifiable results
By setting a new way of looking at affordability IKEA reached some impressive results: In-store sales grew 11,4% year-on-year; we sold nightstands worth the equivalent of 1000 tubes of toothpaste; 300 coffees worth of tables. A record of 200 pizzas worth of wardrobes; 1200 sodas worth of lamps; all of that with the investment of 50 bananas.
Explain why the method of promotion was most relevant to the product or service
A price tag is one of the first ever forms of media. It’s so old that the Romans stated it. It’s also the smallest form of media. And the most challenging space for creativity. So our Ikea affordable price tags were a challenge that needed much thought. We think we have proved that even the humble price tag could be the perfect place for creativity.
IKEA is all about modern and iconic design and to visually express its affordability, the agency had to find something as iconic. So we did an extensive research of the least expensive things in people’s lives to remind IKEA shop goers just how little they pay for great Swedish design. A few cups of coffee, a handful of stamps, some tubes of toothpaste, all those have very distinct shapes and would serve as glove to create a visually striking currency that could be used as new pricing system in IKEA stores nationwide. An affordable currency with ambitious goals. After all, when people are aware of how little they spend per item, they buy more items. It’s that simple. It’s that affordable.