Fresh off a major summer comeback, Bed Bath & Beyond ebed xecs say they are doubling down on e-commerce and decor for homebound holiday shoppers
- Bed Bath & Beyond Chief Brand Officer Cindy Davis spoke with Business Insider about the company’s stellar summer sales, as well as its plans for winning during the holiday season.
- Davis said the brand’s strategy includes a $29 annual loyalty program, enhanced e-commerce and omnichannel fulfillment services, and earlier-than-ever holiday offerings.
- The Bed Bath & Beyond executive said the company plans to remain “close to the customer” to continue to glean insights on consumer trends for the holidays.
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Bed Bath & Beyond pulled off a major back-to-school sales coup this summer, despite many colleges across the United States going remote due to the coronavirus pandemic. Now the retailer is looking to apply those lessons to its holiday strategy, according to its Chief Brand Officer Cindy Davis. Back-to-school and holiday shopping are the biggest traffic drivers for the brand.
Davis credited the company’s positive second-quarter sales — which soared above analysts’ estimates, according to — with Bed Bath & Beyond’s ability to “pivot” to better suit customers’ needs during the pandemic. The company saw 89% digital sales growth compared to the same time period last year, although this was partially offset by a 12% decline in comparable-store sales.
“We had a plan in place for second quarter that was really different for us,” Davis said. “It was customer-inspired, data-driven, and really focused on our omnichannel services. It was a fully integrated plan and it really helped us deliver on Q2.”
The result was two million new customers flocking to Bed Bath & Beyond’s website.
Davis said that those new shoppers tended to be six years younger on average than the company’s existing customers. While