But there’s a lot more to the retailer than meets the eye.
Read more: 5 big changes coming to Macy’s in 2017
Love Bed Bath & Beyond? A few things are changing…
Like many other retailers right now, Bed Bath & Beyond is trying to evolve as sales shift to online retailers.
In a recent earnings call, the company announced that its online sales grew 20% during the last fiscal year, but comparable sales from stores declined by low single-digits.
Read on to learn about some major changes the retailer plans to make in the year ahead!
1. Store openings and closings
Unlike major retailers Macy’s, JCPenney and Sears, Bed Bath & Beyond has no plans to close a massive number of stores this year.
For fiscal 2017, Bed Bath & Beyond plans to open about 30 new stores across its formats and close 15 to 20 locations. Check out BEYOND at Liberty View, which just opened in Brooklyn, New York:
This new concept combines four brands under one roof: Bed Bath & Beyond, Face Values, buybuy BABY and Cost Plus World Market. There are also dining options and live events.
2. More personalization
Bed Bath & Beyond has recently acquired several businesses that shoppers may have never heard of before, but just wait! You’re going to be seeing a lot more of these brands:
Personalization Mall – Online retailer that sells various personalized gifts for every special occasion.
Decorist – Website that offers professional interior design services.
Chef Central – Specialty store that caters to professional chefs and home cooks with a wide selection of kitchen products.
“We’re not going to cut ourselves to greatness,” said CEO Steven Temares. “The investments we’ve been making have made us significantly better.”
The first Chef Central “store within a store” concept will open later this year in Paramus, New Jersey.
3. $29 free shipping minimum
BedBathandBeyond.com currently offers free shipping on orders over $29, down from the previous $49 threshold, and there are no immediate plans to change that.
Company executives said they can get second day delivery to 90% of the U.S. population.
To improve in this area, Bed Bath & Beyond is piloting third-party app based delivery, plus same-day delivery in Dallas, Houston and Washington, D.C.
A new distribution center is also being opened to handle the increase in online orders.
4. Beyond+ loyalty program
There was speculation late last year that Beyond+, a new loyalty program the retailer is testing, could replace those 20% off coupons.
Temares said coupons are here to stay, but the test program will expand soon.
For a $29 annual membership fee, Beyond+ offers customers 20% off every purchase in-store or online and free shipping. Read more about the program here.
The membership is a pretty great deal if you’re a frequent BBB shopper, but just FYI — with a membership, you won’t be able to use any additional coupons.
Although it’s early in the test phase, company execs like what they’re seeing so far!
5. Focus on life events
Since people really seem to like shopping from the comfort of their homes, retailers are adding “experiential” aspects to their stores to get you off the couch!
Chef Central cooking classes and demonstrations are just one piece of the puzzle, the CEO said.
Beth Bath & Beyond is focusing a lot on life events, providing in-store consultations for wedding and baby registries — and they even have a college registry!
The retailer said it isn’t just focused on selling items, but offering inspiration.
6. More furniture
To pick up on that thought, Bed Bath & Beyond sees an opportunity to help customers make decorating decisions.
The company is in the process of expanding its furniture and home décor assortment. BedBathandBeyond.com has a new Shop the Room section that showcases various styles of furniture:
Some of those furniture items are already available online, and they’ll be introduced into Bed Bath & Beyond stores once some logistical issues are sorted out.
This new initiative is reflected in the retailer’s spring catalog, which is available online.
7. New and improved website functions
Finally, a top priority for Bed Bath & Beyond’s digital properties is to make things easier for customers through enhanced search and navigation features.
The company wants it to be simple to determine if an item is available in stores for pick-up.
Speaking of merchandise, Bed Bath & Beyond has had success with expanding its assortment online, including items that are sold directly from vendors and not in stores.
An additional customer contact center is opening in Florida to handle this growing side of the business.