Photo: Getty Images/JHVEPhoto
Will Big Lots and The Container Store Make Bed Bath & Beyond Coupons Work For Them?
Bankrupt Bed Bath & Beyond is no longer accepting its own coupons, but Big Lots and The Container Store are.
Axios reports that the two retail chains want to attract Bed Bath & Beyond’s customers with temporary deals to get them in the door.
Big Lots said yesterday that it would give any shopper with a Bed Bath & Beyond coupon 20 percent off their purchase of $50 or more. The offer is good through May 7.
“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,” Bruce Thorn, president & CEO of Big Lots, said in a statement. “For anyone who has missed their last opportunity to redeem one of these coupons, Big Lots is opening our doors to help you save on your entire purchase. This special offer can be used to purchase an assortment of great items for your home, such as bedding and bath accessories, furniture, décor and more.”
The Container Store is offering 20 percent off of a single item through May 31 for customers who present a Bed Bath & Beyond blue coupon at the register.
Big Lots and The Container Store are looking to gain the attention of Bed Bath & Beyond’s faithful in a market with many others competing for the same customers.
A pulse survey of 500 verified Bed Bath & Beyond customers by Numerator found that 61 percent are upset about its plans to close (20 percent are very upset). These shoppers said they were customers at the chain because of its product selection (59 percent), deals (56 percent), prices (31 percent) and store location (28 percent).
Bed Bath & Beyond’s customers have plenty of choices when it comes to where they take their business, with Amazon.com (68 percent), Target (58 percent), Walmart (48 percent), Home Goods (34 percent), At Home (12 percent), Macy’s (10 percent), Wayfair (five percent), Crate & Barrel (three percent), Williams-Sonoma (three percent), Overstock (two percent) and Nordstrom (two percent) getting mentions as likely destinations.
Numerator’s survey respondents may have most frequently mentioned Amazon, but Target was the winner when asked about specific categories. The retailer was at the top of the most frequently mentioned retailers in kitchen & dining products, small appliances, decor, health & beauty, bathroom, storage & organization and bedding categories.
Discussion Questions
DISCUSSION QUESTIONS: How effective will Big Lots and The Container Store be with their Bed Bath & Beyond coupon promos? Which retailer has the proper product selection, deals, prices and location mix to capture most Bed Bath & Beyond customers?
Poll
Loading …BrainTrust
Georganne Bender
Principal, KIZER & BENDER Speaking
Bob Amster
Principal, Retail Technology Group
This is guerrilla marketing at its finest. Back in the day when a store went out of business competitors hurried to be the first to get the closed store’s phone number reconnected to their store. This is kind of the same thing. It’s a rare goodwill PR move that will benefit The Container Store, Big Lots AND consumers.
New customer acquisition is the most expensive endeavor. A 20 percent discount is a cheap way to go. Even if they keep 20 percent of those new customers, this generates a great future ROI.
In addition to new customers discovering The Container Store and Big Lots, shoppers will easily transition to Amazon, Walmart, and Target.
The demise of Bed Bath & Beyond, plus the proliferation of its coupons among a large constituency, present other retailers (these two in particular) with the opportunity to gain new customers. Accepting Bed Bath & Beyond’s coupons can introduce the many former Bed Bath & Beyond customers to these two retailers. Accepting the coupons is the cost of acquisition for these new customers. Twenty percent discount on one item is not a high cost of acquisition. Go for it!
This is a classic customer acquisition strategy/tactic, and I love it! One retailer going out of business creates opportunities for others and I love the decision by both of these brands to proactively go after these customers. Having said that, I do not think either of these has the perfect merchandise mix, but they both have the right price points. My guess is they will evaluate the success of this campaign and (perhaps) decide to increase their item selection in order to grab more business. Good luck to both of them!
While the purist in me says that The Container Store is a far cry from Bed Bath & Beyond, traffic is traffic. Big Lots is a no-brainer. As long as the coupon push doesn’t become a constant, there will be wins for the businesses and discoveries for the consumer.
Next step for Big Lots and The Container Store: tie sign-up for their marketing lists with a sweet welcome gift to Bed Bath & Beyond coupon use. This will further cement the new relationship. I love opportunistic marketing!
Wow, great idea. This benefits Bed Bath & Beyond customers, and I think they’re likely to respond. Both companies will likely realize some lift from this and, more importantly, will appreciate incremental growth in new customers.
The short-term gain and goodwill extended to the Big Lots and The Container Store customers by those retailers accepting the Bed Bath & Beyond coupons is worth it and is a brilliant marketing strategy. While the inevitable has come for Bed Bath & Beyond, the company has been losing significant market share for years to The Container Store, Target, Walmart, Amazon, and others.
While this will not change the competitive landscape significantly for either Big Lots or The Container Store, the goodwill and empathy come when consumers face financial chaos, employment uncertainties, inflationary pressures, and global crises. This is a no-brainer and a win-win for both brands.
This is a great idea. I think it’s a good investment to introduce Bed Bath & Beyond customers to what are possibly new retailers for them, with the hope that it will build loyalty and that they will continue to shop there. The Container Store is definitely a winner here. Big Lots — I am curious to see their ROI.
This is a terrific move by these two retailers. Not only does it contribute to an immediate customer acquisition, it generates long-term goodwill for both retailers. Not to mention the free PR (RetailWire is an example) this move generates.
Echoing the voice of the crowd, it’s a great idea. Too bad some of us (like me) have thrown away their piles of coupons, since they were just a little late with this announcement.
Big Lots has a lot of drek, but The Container Store is golden. I would have definitely used them there. They’ll get the low end at Big Lots and the higher end at The Container Store.
Excellent move.
The bigger opportunity might be Buy Buy Baby. While the need for that product line is short-lived, it’s very targeted, people spend a lot on getting ready for newborns, and the competition is less. Target and Walmart are probably best suited to take that business but others could step up their game with promos and improved selection.
Of course at the end there weren’t a lot of BBB customers left to collect its coupons, but oh well…. I would call this a low risk/low reward program, and it’s effectively limited to the short term, as “supply (of coupons) is limited”.
Former customers will likely disperse to multiple competitors…there’s no reason to think any one of them will get a lion’s share.
Shrewd moves by Big Lots and The Container Store to drive trial visits from BB&B customers. While I don’t see the assortments as an exact match, they overlap enough. The PR value alone probably makes it worthwhile.
Just spotted an item that says Boscov’s, the department store chain based in Pennsylvania has also announced it will accept the coupons for a limited time. https://www.inquirer.com/news/boscovs-bed-bath-and-beyond-coupons-20230428.html
I wonder if At Home will follow suit.
This a quick and inexpensive way to pick up new customers. The BB&B brand will leave a void in the marketplace that other retailers selling similar products can take advantage of – if they do it right. In short, this could be a BIG opportunity for BB&B competitors.
On a different topic, I predict we won’t see the end of BB&B. They will come back – either restructured or with new ownership. This is a recognized and loved brand by many.