Listen Now: Time Is Money: Ikea Dubai Offers Distance-Traveled Incentives
Ikea is introducing a new payment plan… your time.
Ikea Dubai is trying something different when it comes to customers paying their bill. Instead of reaching for their wallet, customers just have to show how far they’ve traveled. The more time you spend getting to the store, the more credit you will have to buy things.
The idea is that in Dubai most Ikea locations are on the outskirts. This gives people an incentive to visit. Plus, once in the store, customers will find items have been given a price tag based on a unit of time.
There is a slight catch to the promotion. You have to show an Ikea employee how long it took to get to the store on google maps. This means downloading and using an app some people shy away from because of privacy concerns and fears of being tracked.
A spokesperson for the company says they understand that time is precious so why not reward people for using it. Time is money and I bet a lot of customers are going to start taking the long way.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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