The Motley Fool announced that “Bed Bath & Beyond is fundamentally restructuring itself by shedding non-core assets and focusing on its digital future.”
Smart.
In turn, its stock price has more than doubled. Analysts say that the home goods leader could double down again as its share price rose a massive 101% in just a single month – from about $12 to over $24.
Just in time for the holiday shopping bonanza, the retailer plans on providing quick and easy shopping solutions for customers to purchase gifts for loved ones. The retailer will also be giving inspirational tips and ideas for items to buy.
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“We want to help our customers celebrate old traditions and create new ones by making sure there’s no place like home this holiday season. Customers can shop with speed, and we’ll provide inspirational ideas and great value throughout the holidays on everything from seasonal décor to home essentials or thoughtful gifts,” Cindy Davis, Chief Brand Officer of Bed Bath & Beyond and President of Decorist.
“So, whether you’re cooking Thanksgiving dinner for the first time, need a last-minute present for friends or family, or just want to bring a little holiday magic to your home, we’ll be here to help make the holidays special.”
The emphasis on being helpful is what customers want right now.
This comes after BB&B and sister brand Decorist’s launched a new digital shopping experience for College students who have to study in their childhood bedrooms instead of going back to school dorms due to the pandemic. Also, an ambitious way that’s carefully curated to respond to customers’ needs at such tricky times.
To let consumers shop where they want and how they want, the retailer is now embarking on its Omni-always mission. All at value-based pricing, too.
Though BB&B was behind the curve in its online offering (generating just 20% of its income from online sales), it’s now going above and beyond to offer customers an excellent digital experience – head to head with the competition from retail giants including Amazon, Target, and Walmart.
“When ‘home’ is everything, we’re really poised to be the epicenter of that,” said BB&B president and CEO Mark Tritton.
Services like free Buy-Online-Pickup-In-Store (BOPIS), curbside pickups, and same-day delivery are all available, contributing to a safe, fast, and convenient shopping experience for all customers. Again, putting the brand on-trend.
The results of these moves are still an open-end question, but at least we can say it seems as if the brand is checking plenty of crucial boxes when it comes to doing CRM right nowadays. Things like giving special discounts and offers for loyalty members, offering early savings events to help fight off the looming shipping chaos, and being helpful in a relevant way that actually makes your customers’ lives easier are all standard procedures now that are expected from brands. It seems like the people over at BB&B got it all covered.