With so many options available when it comes to purchasing bedding, towels, or a new mixer – department stores, big box retailers like Target and Walmart, as well as online deliveries directly to your door – the need for brick-and-mortar home item specialists is becoming increasingly essential. With increasing competition in this market space, these businesses must do all they can to stand out from their competitors and remain competitive.
Despite their hard efforts to revamp store interiors, offer proprietary products and attract customers back into stores, Bed Bath & Beyond continues to struggle. Their attempts have yet not been successful in fully resolving the issue.
In their next move, Bed Bath & Beyond is going to shut down 56 of its locations – all around the country. They have chosen these spots due to the lowest sales figures they get from them. Unlike other companies who promise alternate options for employees when closing stores, Bed Bath & Beyond doesn’t plan on doing that and will instead just dismiss those employed at these places after shutting them down.
This compilation of closures is likely not the final set we will observe. Consequently, the business plans to shutter an estimated 150 stores in total.
Bed Bath & Beyond is not only renowned for its home decor stores but also owns and operates Buybuy Baby and Harmon Face Values. These locations are currently safe from being closed down – in fact, the company has even opened more Buybuy Baby locations recently!
In addition to shutting down the Bed Bath & Beyond stores, the business is also shifting away from its previous strategy of selling products under its own brand. Instead, they will be placing more emphasis on peddling national brands.
Is your go-to Bed Bath & Beyond store closing down soon? Are you a frequenter of the venue? Could they do something to enhance customers’ shopping experiences and make it more attractive?