IKEA is prepared for the introduction of the single currency on January 1, 2002. To this end, the company has developed several measures and activities designed to facilitate the transition to the euro for its customers:
• From September 1, 2001, to August 31, 2002, IKEA stores in the Iberian Peninsula and the IKEA Catalogue will display prices in both currencies. The price in euros will appear in large print, and the price in pesetas in smaller print. This way, IKEA is making it easier for its customers to adapt to the new currency.
IKEA strictly adheres to the regulations set by the Ministry of Economy regarding currency conversion and rounding, both in the prices of its products and in the salaries of its employees. The company's stores have signed the Code of Good Practices issued by the Ministry and, as a result, will display the so-called "Eurolabel," which guarantees good practices in the process of migrating to the euro.
IKEA has trained all its staff to be prepared for the introduction of the new currency. Specifically, all IKEA employees have received basic training, professional training, and personal training. Therefore, the IKEA workforce is fully equipped to properly inform customers and store visitors.
• IKEA will have an information point about the euro in its stores. In addition, for interested customers, it also has explanatory brochures and fact sheets with simple tips to make the transition smoother.
• For the past two years, IKEA has been adapting its computer systems for the introduction of the new currency. Both euro and peseta exchange rates will be calculated automatically to avoid any errors.
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