IKEA Family: Is it worth it and how can you earn more reward keys?

Hej! This is how to get the most from IKEA's loyalty program.

IKEA Family is the loyalty program for Swedish furniture and homewares giant IKEA. The benefits available change regularly, which can make it tricky to work out if it's worth putting effort into being a member.

IKEA Family members get discounts on some product lines. These discounts can be substantial - think $100 off a $300 rug - but they do only apply to a small portion of what IKEA sells.

Since June 2023, IKEA Australia has also offered "reward keys" for IKEA Family members, which can be converted into discount vouchers. Think of it like frequent flyer points for bookcases and meatballs.

The previous version of IKEA Family offered a simple $10 discount if you spent $100 during a quarter; earlier incarnations offered a free coffee every time you visited the store. Are reward keys a better alternative?

IKEA Family is free to join, so there's no cost to earning reward keys. But to get the most from your reward keys, you'll need to use them wisely, earn as many as possible, and recognise that they don't represent a huge savings on your IKEA shop. Here's what you need to know.

How do I earn IKEA Family reward keys?

To earn keys, you need to join IKEA Family. This is free, and you can do it online or in-store. You'll earn 5 reward keys when you first create your IKEA Family account. Currently, new members in Australia also earn a $10 discount voucher (though you'll need to spend $100 or more to use it).

The basic rule is simple: you earn 1 IKEA Family reward key for every $5 you spend. That applies to in-store purchases and online shopping.

On top of shopping, there are also other clever hacks to top up your balance:

• You earn 1 reward key for logging into your account online. This is capped at once a week. To earn these free keys, I'd suggest adding a weekly reminder on your calendar to log in, and making sure you don't tick the "Stay logged in until you log out" box.
• You earn 2 reward keys for creating a new wish list. This needs to contain at least one product. Like logging in, this is also capped at once a week, and also worth setting a reminder for. (To add a product to one of your wish lists, just click the heart symbol next to its price.)
• You earn 20 reward keys for registering for and attending in-store IKEA Family events. This can range from kitchen planning information sessions to cooking demonstrations.
• You earn 25 reward keys for registering for and attending a consultation or planning appointment. Typically, these are for kitchen or wardrobe installs. You can do these in-store or online.

My take as a points freak? Do the logging in and creating a wish list for free keys every week: that's an easy 156 reward keys a year for a tiny amount of online activity.

Events can also be good, especially if you live near your local IKEA. You'll need to check your local store calendar regularly, as typically these only show up a month or two in advance. Remember, you need to actually attend to earn the keys.

The consultancy hack only makes sense if you're really looking to install a new IKEA kitchen or wardrobe anyway. I doubt any store will let you repeatedly register for these.

What can I use IKEA Family reward keys for?

Under current rules, these are the ways you can spend your reward keys, and how many you'll need for each choice.

Always remember: you have to spend a lot to earn these keys in the first place. As an example, based on shopping alone, you'd need to spend $250 to earn 50 keys, which would then score you a $5 discount on delivery fees.

Effectively that amounts to a 2% discount on your original spend. Every saving helps, but don't assume you're saving heaps with reward keys. You're not.

How much are IKEA Family reward keys worth?

Typically, a single IKEA Family reward key is worth between 6.6 cents and 10 cents, based on current redemption values.

• For most discount voucher options, the value is 10 cents.
• The worst-value choice is money off furniture or homewares, where the value is 6.6 cents.
• Plant-based or vegetable meatball redemptions are marginally worse value than regular meatballs. That's because a regular 8-meatball plate at IKEA costs $10.50, while the other variations are $10.00.
• The valuation for the cake and coffee redemption is a tad sneaky. For a regular customer, that combo costs $7.30 ($4.80 for the cake, $2.50 for the coffee). The 73-key redemption price thus lines up with the "10 cents per key" value. However, an IKEA Family member only has pay $4.30 for the cake. So that means the real redemption value is 9.3 cents per key - lower than most other options.

For comparison, a single Qantas Point is worth between 0.3 cents and 8 cents, based on our analysis. So IKEA reward keys are more valuable, but you have fewer ways to use them.

Plus, the only truly "free" options are meatballs or a cake/coffee combo. Everything else is a discount, so you still have to buy more at IKEA to take advantage it.

How can I get the most value from IKEA Family reward keys?

These are my 5 golden rules for getting the most from IKEA Family:

1. Use your rewards keys for a high-value option: either free food/drinks, or money off delivery/assembly services. Don't choose money off furniture or homewares, as that's the worst value.
2. Log in weekly and create a new wish list for extra bonus reward keys.
3. Register for and attend qualifying events at your local IKEA store if it's nearby. This doesn't work if it's further away - you'll likely spend more on petrol than the keys are worth. Remember, an event earns you 20 reward keys, which are worth $2 at best.
4. Make sure you spend your keys within 24 months of earning them, as they expire after that point.
5. Finally (and obviously), make sure you swipe or scan your card every time you buy in store. You won't earn reward keys otherwise!

What are the downsides of IKEA Family?

There's no charge to join IKEA Family, but there are a few risks to bear in mind:

• You have to spend a lot to earn rewards. The cheapest reward ($5 off delivery) still requires 50 reward keys - that's equivalent to $250 spent in store. Free meatballs require $525 in spending. Not a lot if you're fitting out your new house, but don't assume you'll be getting them often.
• Reward keys expire after 24 months, and there's no way to keep them active. So you might find yourself racing for some free meatballs in May 2025 if you haven't used any of your reward keys by then.
• Rewards can take up to 48 hours to appear. Not a major hassle, but you'll need to bear it in mind if you're trying to spend rewards quickly after topping up.
• You do have to be willing to share personal information (your shopping history and your contact details) with IKEA.