The Swedish furniture company Ikea today released that they will be selling solar panels for residence in the UK. Solar panels have been an increasing market over the past decade as the environment has become a large part of western lifestyle. Ikea advertises that for each panel, it will take 7 years to pay off, and after, the energy created from the panels will be free energy (CBC News).
As a consumer, I think this is a very smart move by Ikea. Personally, my family has been planning on purchasing a solar panel to reduce our energy price, but have not found a reliable and credible company to supply and maintain the panels. Ikea is a well known brand and also is responsible for the maintenance. Having Ikea sell mass produced solar panels not only lowers the overall costs of the solar panels, making them more accessible, but also increases their revenue stream. Having Ikea be responsible for their maintenance, set up, and monitoring creates a stronger customer relationship.
Ikea is now known as a more sustainable company that is influenced of the impact on the environment. This is a good marketing scheme.