Title: Overstock.com Relaunches as Bed Bath & Beyond, Promising New and Familiar Offerings
Introduction:
In a major rebranding move, Overstock.com has transformed into BedBathandBeyond.com, just a month after acquiring the Bed Bath & Beyond brand following its bankruptcy. The revamped website and app aim to merge Overstock’s online business model with the popular brand name products loved by Bed Bath & Beyond shoppers. With a focus on offering a mix of both new and familiar items, the company promises an enhanced shopping experience.
Expanding Product Range:
Jonathan Johnson, CEO of Overstock, shared in an interview with CNN that the rebranded website will not only continue to offer bed, bath, and kitchen items but also extend to a broader range of bedding, kitchen utensils, and small appliances. Overstock has added over 600,000 new products to the site since the acquisition, many of which are well-known brand names that customers recognize and trust.
Coupon Changes:
While the famous “Big Blue” coupon for 20% off a single item will not return, Bed Bath & Beyond plans to launch a new mobile app in the US that will offer special deals and promotions. Johnson assured loyal customers that there will still be coupons available, although the discounts may not be as substantial as before.
Unused Loyalty Points Reinstated:
Active members of the previous loyalty program will be pleased to know that up to $50 in unused loyalty points will be reinstated on the new platform. Due to the bankruptcy, these loyalty points initially vanished, but the relaunch intends to provide some compensation to loyal customers.
Physical Stores Not in Immediate Plans:
Unlike the former Bed Bath & Beyond, the new online-focused platform does not have physical stores in its current strategic plan. Johnson emphasized that Overstock’s asset-light business model is their primary focus. However, he did not entirely rule out the possibility of physical stores in the future.
Consideration for a New Corporate Name:
Overstock is also contemplating a change in its corporate name and ticker symbol. Johnson acknowledged that the current name and ticker symbol do not align with the company’s new identity. The company’s management intends to find a suitable and untainted name for their brand over time.
Conclusion:
Amid challenging times for the retail industry, Overstock’s rebranding as Bed Bath & Beyond serves as a beacon of hope. The relaunched website aims to create an improved online shopping experience for customers, blending Overstock’s discounts and merchandise categories with the beloved brand name products synonymous with Bed Bath & Beyond. While certain elements may have changed, the company’s commitment to providing quality products and offers remains at the forefront.