They eroded the retailer’s profits, hurt its brand image and trained customers to only shop at stores if they had one
For decades, blue and white paper coupons defined Bed Bath & Beyond’s brand, popping up everywhere from the movie “Old School” to notorious mobster Whitey Bulger’s junk drawer.. On Wednesday, Bed Bath & Beyond will stop honoring Big Blue coupons for good.READ MORE:They eroded Bed Bath & Beyond’s profit margins, hurt its brand image and trained customers to only shop at stores if they had a coupon stashed away.
“It’s a very effective short-term strategy in terms of generating sales, but coupons are not good for long-term loyalty,” said Yuping Liu-Thompkins, a professor of marketing at Old Dominion University and director of the university’s Loyalty Sciences Lab on customer loyalty. Bed Bath & Beyond used coupons to draw shoppers into its maze-like stores. Once customers were inside, the company hoped they would wander around and impulse shop — buying linens, towels, pots and everything else that caught their eye.customers who received coupons released feel-good oxytocin hormones and their heart rates decreased.As online shopping grew, coupons became a less effective tool because customers could compare prices across different sites to find the lowest one.
In the company’s early years — it dates to 1971 — coupons were infrequent, attached to circulars and for offers like $5 off a purchase of at least $15, according to a 2020 New York Times
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