Bed Bath & Beyond Coupon Shoppers Beware: If you have a lot of big blue 20% off coupons in your drawer or inbox, it’s a good idea to use them right away.
The struggling home goods retailer released dire forecasts on Thursday, calling into question its ability to stay in business longer and said it was exploring ways forward, including filing for bankruptcy.
A bankruptcy filing could reportedly be filed in the coming weeks, potentially ending its iconic coupon program. We are pursuing a bankruptcy process that involves liquidation, not just restructuring.
“If Bed Bath & Beyond filed for bankruptcy, retailers could receive 20% coupons for 30 days. You don’t want to allow anyone to tackle you.You can take advantage of 70% off the liquidation price plus a 20% off coupon,” said retail expert and managing director of retail consultancy Strategic Resource Group. said Burt Flickinger,
Other retailers are following similar game plans after bankruptcies and store closures.
Toys “R” Us honored gift cards, store credit and coupons for 30 days after filing for bankruptcy in 2017 before liquidating its U.S. business. , opened its first post-bankruptcy store under new owners in 2019.
Creditors aren’t the only ones challenging stores that honor coupons in addition to liquidation discounts. Ali He Besharat, co-director and associate professor of marketing at the University of Denver’s Center for Consumer Insights and Business Innovation, said: Daniels College of Business.
Big Blue has become a company icon
Bed Bath & Beyond Introduces Oversized Coupon With 20% Off One Item 30 years ago.
Over time, oversized postcard-like mailers and digital coupons with eye-popping purple-blue borders, According to Flickinger, promoting the font “20% off in store or online” has gained a cult following and has been a successful marketing ploy to attract repeat customers.
The coupon became synonymous with the household goods chain, earning it the nickname “Big Blue.” new york times report. It then evolved into a pop culture reference, as celebrities and late-night talk show hosts incorporated pop culture into their conversations on the air, the report said.
Weekly coupons have expiration dates, but rumors swirled on various social platforms that Big Blue coupons never expired.
Then the pandemic hit the retail industry and hit hard. Bed Bath & Beyond’s sales and profits took a hit as stores closed for months and consumers rethought their non-essential purchases. In late 2020, the retailer said it would scale back its popular coupon program to boost business.
Two years later, company management called the move a “huge mistake” and admitted to misjudged the number of shoppers who had come to accept regular Big Blue coupons.
And now, Big Blue’s future could really be in jeopardy. It depends on what comes next.
“The survival of Bed Bath & Beyond’s loyalty program will also depend, in part, on whether the company goes through a Chapter 11 bankruptcy, known as restructuring, or a Chapter 7 bankruptcy, or liquidation. I studied finance at Le Moyne College in Syracuse, New York.
“In the former case, it is very likely that the rewards program will survive and the company will honor the existing rewards and coupons. Perks are designed to keep customers,” said Jha.
However, it is unclear if these reward points and coupons will be honored if the company goes through the liquidation process.
“It’s entirely possible that the points simply aren’t useful because the company doesn’t exist anymore. But there are cases where reward points work differently and persist after the parent company is gone,” he said. “In any event, if I’m a customer with points or coupons and my company is facing Chapter 7 bankruptcy, I’ll use it before it’s worthless.”
