Ikea looks to Drive in-Store Traffic With 5% Loyalty Discount
As Ikea moves to reinvent its physical retail presence and drive more foot traffic to its stores, the Swedish-founded conglomerate known for its unfussy, ready-to-assemble furniture is expanding the perks of its free loyalty club.
The Ikea Family club is now offering 5% off on select purchases made at any of the company’s 474 physical stores across the U.S., according to a press release on Monday (Sept. 12).
“With the latest enhancement of our IKEA Family benefits we aim to inspire our customers to live a better everyday life at home with quality and sustainable home furnishings at an affordable price,” Ikea U.S. CEO and Chief Sustainability Officer Javier Quiñones said in an email.
See also: Floundering Furniture Segment Faces New Threats From Competitors, Consumers
While Ikea is more than holding its own in the struggling furniture segment — it took in $44 billion in sales last year, over three times that of rival Wayfair — the franchise is embarking on a $3 billion store refresh program. The big blue warehouse-style boxes are now being outfitted with fulfillment centers to reflect retail’s changing customer base to one that is increasingly more digital, PYMNTS reported.
The added discount to its loyalty program is designed to start getting more people into more stores as soon as possible. The program already offers product discounts, exclusive access to events and workshops, and a free hot drink (coffee or tea) in the Ikea restaurant each visit.
“By enhancing our IKEA Family benefits, we are able to show greater appreciation for our customers in a meaningful way with everyday discounts while inspiring them to live a better everyday life at home,” Quiñones said in the release.
Ikea initially launched its Family loyalty program in Sweden in 1984 and in the U.S. in 2011. The 5% off eligible in-store purchases benefit went into effect on Sept. 1.
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