Your CNN account Log in to your CNN account “Since the company no longer exists … the points would simply be useless,” said Chandan Jha, associate professor of finance at Le Moyne College in Syracuse, NY. Now that the company is going through a liquidation process, Bed Bath & Beyond said it’s the end of the road for the coupons. Two years later, company executives called the move a ‘big mistake,” admitting they had misjudged how much shoppers had come to embrace the regular cadence of the Big Blue coupons. In late 2020, the retailer said it was scaling back on its popular coupon program to boost its business. With stores closed for months, and consumers rethinking their nonessential purchases, Bed Bath & Beyond sales and profit took a hit. Then the pandemic hit and walloped the retail industry. Rumors swirled on various social platforms that Big Blue coupons never expire, even though the weekly coupon does feature an expiration date. The “ Big Blue” coupons became a pop culture reference as celebrities and late-night talk show hosts popped it into their on-air conversations. Over time, the oversized postcard-like mailer and digital coupon with an eye-popping purple-blue border and font blaring “20% off in-store or online” developed a cult following and became a successful marketing strategy to lure in repeat shoppers, said Flickinger.Ī Bed Bath & Beyond coupon is seen on January 6, 2023. “For suppliers of name brands in particular, they wouldn’t want the deep discounting to negatively impact their brand image,” said Ali Besharat, associate professor of marketing and co-director of the Consumer Insights and Business Innovation Center at the University of Denver’s Daniels College of Business.īed Bath & Beyond introduced its oversized coupon for 20% off a single item three decades ago. The companies that sell the products wouldn’t want their merchandise knocked down so heavily, either. It’s not just creditors who might take issue with the store honoring the coupons on top of liquidation discounts. The toy seller has since begun to attempt a comeback through a partnership with Macy’s, and opened its first post-bankruptcy store in 2019 under new ownership. Toys ‘R’ Us honored its gift cards, store credit and coupons for a 30-day period after it filed for bankruptcy in 2017, and subsequently liquidated its US business. (Photo by John Nacion/NurPhoto via AP) John Nacion/NurPhoto via APīed Bath and Beyond says it may not survive This announcement appears to be the first iteration of that plan, report says. Bed Bath & Beyond announced plans to permanently close about 200 stores over the next two years. Other retailers have followed a similar game plan after bankruptcy and store closings.Ī view of Bed Bath & Beyond Branch in New York City on September 22, 2020. The company expects to notify customers about its registry plans in the coming days. Bed Bath & Beyond said it will no longer award points to customers for purchases, starting Sunday.īed Bath & Beyond, a staple of wedding registries for years, said customers who registered with Bed Bath & Beyond will eventually have their information transferred to a competitor’s service, where guests can purchase similar items. The store will stop accepting gift cards on May 8, and the brands Welcome Rewards points will stop being accepted on May 15. The company encouraged shoppers to seek out its discounted merchandise later this week, but those sales come with big caveats: Items purchased before Wednesday can be returned until May 24, but all sales after Wednesday will be final. “Creditors wouldn’t want to allow shoppers to tack on those 20%-off coupons on top of 70% off liquidation prices,” said Burt Flickinger, retail expert and managing director of retail consultancy Strategic Resource Group. Instead, Bed Bath & Beyond expects to offer “deep discounts” on its products as part of its going-out-of-business sales. The company will stop accepting coupons on Wednesday. The company said customers will have Sunday, Monday and Tuesday to use their remaining 20%-off coupons. That means your stash of its 20%-off coupons are about to be useless.īed Bath & Beyond said it would sell off its merchandise and then go out of business. After a tumultuous struggle to stay in business over the past several years, Bed Bath & Beyond declared bankruptcy on Sunday.
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