Yahoo Finance Bed Bath & Beyond scaling back on 20% off coupon mailers
Bed Bath & Beyond is thinking about consumer savings beyond its signature coupon mailers.
The home goods retailer, known for its 20% off blue-and-white paper coupon cards that incentivize customers to shop in-store and online, is carving out other ways to promote deals.
"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," she explained.
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The move to alter its saving incentives comes as the New Jersey-based retailer announced in the summer it would close around 200 of its retail stores and cut 2,800 jobs as part of a restructuring plan. And its parent company, Bed Bath & Beyond Inc., said it would sell some of its retailers like the Christmas Tree Shop in an effort to downsize and “further increase its financial strength."
The homeware store will offer holidays deals through its Beyond+ rewards program that gives customers 20% off anytime they buy.
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“Along with Beyond+, which is the secret weapon to save throughout the year, this means we’ll always offer great value, an inspiring selection, and fast, easy and convenient omni-always shopping services like BOPIS, Curbside and Same Day Delivery,” Davis said in a statement.
The company said Wednesday it plans to overhaul its sales strategy by remodeling stores and improving its supply chain.
Daniella Genovese contributed to this report
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