What: IKEA is discontinuing its in-store discount for loyalty members as part of its new pricing strategy.

Why it is important: The change is a result of Ikea's efforts to create more value for its customers and provide a low-price shopping experience.

Starting from February 1, 2024, members of the Ikea Family loyalty program will no longer receive a 5% discount on in-store purchases of furniture and décor. However, they will still enjoy benefits such as exclusive offers, discounts on delivery options, and a free hot drink when visiting the store.

The retailer will introduce new lower-price offers on hundreds of products and plans to create new exciting offers for customers in 2024. However by delaying the cancellation of the membership discount until after the holidays, it may benefit from consumers relying on loyalty programs to save money during this period.

Ikea is discontinuing in-store discount for loyalty members