Bed Bath & Beyond Inc. (BBBY) Coupons May Be No More

Advertisement

Bed Bath & Beyond Inc. (NASDAQ:BBBY) is looking to move past coupons with a new subscription service called “Beyond+.”

Bed Bath & Beyond Coupons, BBBY

The new program that could replace Bed Bath & Beyond coupons allows customers to pay $29 per year for a membership. This nets them 20% off on all purchases. It also gets them free shipping on all orders. However, it is currently an invite-only program and is still in the testing phase. It also isn’t accepting new members after launching last week.

“This is a way to wean themselves away from offering that to all customers, and see if certain customers will raise their hand to pay a fee to get access to these benefits,” Tom Caporaso, head of marketing technology company, told The Wall Street Journal about Bed Bath & Beyond coupons coming to an end.

The decision to move away from Bed Bath & Beyond coupons comes after the company reported a 17% drop in profits during its most recent quarter. Steven Temares, CEO of BBBY, said that he knows the company is associated with coupons. Despite this, he wants to change it to be more “intelligent about our marketing.”

Bed Bath & Beyond coupons won’t be going away completely. The retailer also told Fortune that it will still be offering coupons and said that they are “an important benefit we provide to our customers.”

Bed Bath & Beyond’s effort to draw customers in with a loyalty program may help it better compete against Amazon.com, Inc. (NASDAQ:AMZN). The free shipping and discounts on its products will likely help in this effort.

BBBY stock was up slightly as of Thursday afternoon.

More From InvestorPlace


Article printed from InvestorPlace Media, https://investorplace.com/2016/10/bed-bath-beyond-coupons-bbby/.

©2024 InvestorPlace Media, LLC