Bed Bath & Beyond Eliminating Coupons?
Bed, Bath & Beyond may be getting rid of its coupons after realizing that the ubiquity of 20 percent off deals is backfiring for the company. The retailer is testing a beta version of its new "Beyond+" loyalty program. The program offers perks including free shipping and 20 percent off every entire purchase, for a membership fee of $29 per year. If the test proves successful, it could signal the end for Bed Bath & Beyond's couponing ways.
Total Retail's Take: The only people who may be more disappointed with this news than my wife, who won't make a purchase at Bed Bath & Beyond without a coupon, is executives with the USPS, who will be seeing those big blue coupon postcards leaving the mail stream. Bed Bath & Beyond is trying to reverse years of eroding margins driven by its aggressive discounting policy with a move to a pay-for-play loyalty program, a la Amazon Prime. If my one-person survey here at home is any indication, it's not going to work. The discounting train, so to speak, has already left the station. There's no turning back now.
