IKEA Homes is said to be pricing higher in South Korea than in other developed countries

China Coatings Network
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South Korea, a civil society organization said that IKEA home prices in South Korea higher than other developed countries. If exchange rate differences are taken into account, IKEA's products in South Korea would be the second-highest in the 28 developed markets, according to the Korea Consumer Union (CUK). When the purchasing power of consumers in these markets is taken into account, South Korea will be the fourth-highest-priced country. The Korea Consumer Alliance has investigated the pricing of IKEA's products in 21 OECD countries, including seven Asian countries such as Singapore, Taiwan, Hong Kong, Saudi Arabia and Indonesia, the Korea Times reported on March 20. The survey concluded that IKEA Home's products in Asian and Middle Eastern countries are significantly more expensive than those in North America and Europe. A spokesman for the Korea Consumer Federation said: "IKEA Home has a strong impact on the domestic furniture market in Korea and we need to know more about the pricing of its products." The spokesman said the methodology used in the investigation was in line with the requirements of the International Monetary Fund and that the credibility of the findings was assured. However, the head of IKEA's Home Korea market disagrees with the findings of the Korea Consumer Alliance. "The Korean Consumer Alliance only extracted 49 products from 9,200 products from IKEA Home as the subject of the survey, and easily concluded that the results were unbeliever and that the products in the survey were more suited to European consumer preferences," the official said. The company's product pricing differences are determined by a number of factors, including population, logistics support, currency exchange and other factors. The company has been working hard to bring consumers a better shopping experience, and based on consumer feedback and investment to continuously improve the quality of service. ”