Paliha Kabilanz CNN
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 take place in the coming weeks, which could mean the end of the iconic coupon program, especially if the company pursues a bankruptcy process that involves liquidation rather than just restructuring.
“If Bed Bath & Beyond files for bankruptcy, retailers may receive a 20% coupon for 30 days. You wouldn’t want to allow them to take advantage of a 20% off coupon on top of the 70% off the price,” said Bert Frikinger, retail expert and managing director.of retail consultancy Strategic Resource Group
Other retailers are following similar game plans after bankruptcies and store closures.
Five Bay Area stores closed
San Jose: 5353 Almaden Expressway, Suite A-200
Larkspur: 2601 Larkspur Landing Circle
Antioquia: 5719 Lone Tree Way
San Leandro: 15555 East 14th Street, Suite 240
Vallejo: 105 Plaza Drive, Suite 107
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 Center for Consumer Insights and Business Innovation at the University of Denver, said: Daniels College of Business.
Big Blue has become a company icon
Bed Bath & Beyond introduced oversized coupons 30 years ago with 20% off any single item.
Over time, the oversized postcard-like envelopes and digital coupons, with their eye-popping purple-blue borders and “20% off in-store or online” font, have gained a cult following. and has become a successful marketing strategy to attract repeat customers. Flickinger said.
The coupon became synonymous with the home goods chain, earning it the nickname “Big Blue.” new york times report. It then developed 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 that it had misjudged the number of shoppers who had come to embrace the normal cadence of 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 also depends on whether the company goes through a Chapter 11 bankruptcy, known as restructuring, or a Chapter 7 bankruptcy, or liquidation,” said Chandan Ja. said. He 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 existing rewards and coupons. Ti Rewards is built to retain 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 is quite possible that the points simply become useless because the company no longer exists. rice field. “Either way, if I’m a customer who has points or coupons and the company is facing Chapter 7 bankruptcy, I’ll use it before it’s worthless.”
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