Martin Lewis’s team has criticised IKEA’s newly revamped loyalty club scheme with some stark examples. The popular retail giant has recently updated its Family Club membership program, allowing members to earn points with every purchase made both in-store and online. Points can also be accumulated by engaging with IKEA’s online services, such as logging in, saving wish lists, or making planning appointments at the store.
However, Money Saving Expert (MSE), led by financial expert Martin Lewis, was quick to point out that the benefits of the new scheme may not be as generous as they seem. According to MSE’s analysis, customers would need to spend £110 just to earn a 10p Daim cake (usually priced at around £2), and £625 to receive a £10 discount on in-store or online purchases.
Once enough points are collected, members can exchange them for various rewards, ranging from discounts on delivery for larger items to savings on food orders at IKEA restaurants or purchases over £11. Voucher codes obtained through points expire after one month, but the points themselves remain valid for 18 months.
Despite the criticisms from MSE, some IKEA fans have praised the Family Club, even before the recent changes. Some customers have highlighted benefits like free coffee upon each visit or free kids’ activities during the summer.
While acknowledging some positives, MSE cautioned that if customers don’t spend enough within the 18-month period, all accumulated points would expire. IKEA has been requested for further comments on the matter.