![]() A 15 percent off coupon may not be enough to stimulate some customers, while it gives a needless discount to others. The second issue is that one-size-fits-all promotions do a lousy job of optimizing sales and margins. So as we’ve seen many times over, retailers get addicted to these promotions. The first is that, as many have observed, we teach customers that shopping without a coupon is “the sucker price,” i.e. There are at least two big issues with this. ![]() It has to be very gradual.īed, Bath & Beyond is emblematic of what I often refer to as the pointless pursuit of the promiscuous shopper. Penney that you can’t just “stop” doing what made you successful in the first place. Hopefully Bed Bath & Beyond has learned from J.C. So it’s going to be a long process no matter what. What part is bed? What part is bath? And what part is “beyond?” And how do health and beauty aids fit into the mix in stores (I think it’s a leased department, but still…)? The bedding leaves me wanting - among other things. It’s very broad and yet, with a store full of stuff, excluding small appliances, it’s actually hard to find what I want. Honestly, I’ve found their assortment to be pretty weak over the years. The problem with the coupons (everyone has a drawer full, don’t they? I do!) is that they create the presumption that the pre-coupon price is actually higher, otherwise why would it be so easy to get them? So the first thing Bed Bath & Beyond has to do is demonstrate that it already has price parity and also demonstrate it has a great assortment. Why Bed Bath & Beyond’s Plan to Boost Profits Could Backfire – Motley Fool.Reports Results For Fiscal 2018 Fourth Quarter And Full Year – Bed Bath & Beyond Bank, have faced challenges downplaying coupons without overly impacting traffic and sales. Historically, a number of retailers, notably J.C. “So, the decisions that we’ve made do impact sales, but they’re also driving profitability.” “Now that we have much better analytics and the ability to look at these coupon transactions, the lifetime value of a customer, the attachment to what items and what channel, we’re able to make better decisions about it.” said Mr. The company will apply analytics to coupon distribution as well. ![]() ![]() The retailer is hoping to leverage investments in pricing tools to modify algorithms across initial, dynamic and local pricing and markdown strategies. In-store innovations and building on its baby business are also expected to help.įrom a marketing standpoint, Bed Bath & Beyond is incorporating enhanced branding and a greater focus on personalized messaging. Longer term, Bed Bath & Beyond sees its revenues recovering to single-digit growth due to enhancements to assortment, including new proprietary brands and continued growth in personalized products such as engraved teddy bears. The store will stop accepting gift cards on May 8, and the brand’s Welcome Rewards points will stop being accepted on May 15.The company expects its comps to decrease in the low- to mid-single-digit percentage range in 2019 due to continued declines in traffic as well as moves such as de-emphasizing coupons to improve margins. Now, the retailer is offering “deep discounts” on its products as it winds down operations. The company gave customers until Tuesday to use its ubiquitous coupons. The offer lasts until May 31 and is valid in store, according to its website.Įarlier this week, Bed Bath & Beyond filed for bankruptcy. Similarly, the Container Store said Wednesday it is offering a 20% discount on any single item to customers “who bring a competitor’s blue coupon to any store location,” with the offer ending May 31.īoscov’s, a department store with 50 locations, is also exchanging mailed Bed Bath & Beyond coupons for $10 off purchases of at least $50. “At Big Lots, our mission is to help people live big and save lots, which means we’re always thinking of ways to step up and deliver even more value to consumers,” said CEO Bruce Thorn in a press release Customers that bring one of the iconic blue-and-whites into one of its 1,425 stores will receive 20% off a purchase of $50 or more. Bed Bath & Beyond’s competitors are coming to the rescue of customers looking to use expired coupons issued by the failed retailer.īig Lots said Thursday that it’s “assisting shoppers nationwide” by accepting expired Bed Bath & Beyond coupons until May 7.
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