Shopping at Bed Bath & Beyond is generally a joy from start to finish, and a lot of times, that journey begins with receiving one of the store’s coveted coupons in the mail. But now you might be seeing a lot fewer of them as the company is said to be scaling back on issuing them.
In a call with investors last week, Bed Bath & Beyond Chief Merchandising Officer Joe Hartsig said the company is seeing an “over-reliance on the coupon,” according to CNBC, and would be cutting down how many they offer. The company conducted an internal study of the baskets of 405 million shoppers and 285,000 items, finding that 40 percent of promotions were “ineffective.” Bed Bath & Beyond also found that many of its new customers are younger and 20 percent less likely to use one of its iconic 15 and 20 percent off coupons.
However, this is not a time to panic if you get super excited to see these come through the mail. The company will not be getting rid of the coupons altogether but Chief Executive Officer Mark Tritton said they will “leverage [them] as a true strength.” Basically, don’t be surprised if you see fewer of them in the mail or your email inbox, but they should still be pop up every once in a while.
“Coupons are part of our DNA and will continue to be a key part of the mix in the future, but we also know that many of our shoppers want to save in different ways,” Bed Bath & Beyond Chief Brand Officer Cindy Davis said in a statement to Fox Business: “We’ve made our everyday price as competitive as possible and introduced dynamic pricing and data-informed promotions so customers get a great deal, with or without the coupon, on the items they love.”
Source: Read Full Article