Well, that didn’t last long.
About one year after debuting a 5% discount for members of its U.S. loyalty club, Ikea will soon discontinue this perk. Beginning February 1, 2024, the blue-box retailer will no longer offer a discount on in-store purchases of all furniture and decor. The Swedish retail giant rolled out this benefit to members of its “family program” in September 2022.
The retailer promises to continue offering exclusive discounts to “family” members—marked by a blue label in-store and online—even though the across-the-board discount is going away in about 11 weeks. Members of the free-to-join loyalty program can currently save almost $40 on the Morabo sofa, one of the Swedish designer’s best-selling pieces.
None of the other perks—including a free hot drink on each store visit, a 90-day price protection on purchases, a birthday gift, free workshops, and exclusive events—are changing, though Ikea promises other yet-to-be-announced ways members will be able to save year-round. The company emailed loyalty members earlier this month and also posted the update to its website.
Why is Ikea shelving the 5% discount? The retailer appears to be tying the change to its broader efforts to lower prices for its cash-strapped customers burdened by inflation. A spokesperson for Ikea confirmed the program changes but did not provide additional details about them.
Beginning this month, Ikea will “refocus on new lower-price offers on hundreds of products across our range that emphasize everyday affordability,” it said in a series of FAQs posted online about the change to the family program.
The program’s current offerings mostly focus on in-store shopping benefits at Ikea’s 50-plus U.S. stores. The company announced earlier this year its most-aggressive expansion plans to date for the United States. It will invest some $2.2 billion over the next three years to open new stores and locations—all in an effort to better compete with the likes of Walmart, Amazon, and Target.