Insider Intelligence’s senior analyst Zak Stambor’s reaction to Bed, Bath & Beyond’s new strategic turnaround plan:
“By securing new financing ahead of the holiday season, Bed Bath & Beyond has a temporary reprieve from questions about its financial viability. But now the question becomes whether it can find ways to lure shoppers back. That starts with sharply distinguishing its brand from the competition and executing on that strategy. As the previous leadership team learned all too well, execution is key.
While that leadership team sought to use private labels to help Bed Bath & Beyond stand out from the competition, that effort fell flat when the pandemic disrupted the global supply chain and its scaled back inventory left customers with few alternatives when an item was out of stock.
Now that Bed Bath & Beyond is leaning into national brands, the question becomes why would a customer shop BBB rather than any of its competitors? One answer the new plan suggests is its Welcome Rewards program. But for any rewards program to be effective it needs to clearly and effectively communicate the benefits of the program. That’s easier said than done.”
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