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Bed Bath & Beyond realized that some shoppers find its products too expensive, so it decided to make some changes. The American New Jersey-based chain of merchandise retail stores introduced its new brand that promises low-priced products.
Products for bargain hunters
The company said that the price range for Bed Bath & Beyond’s newest in-house brand is perfect for shoppers who usually find cheaper items in either Target or Amazon. With that said, it is also aiming to rival the said retail giants for quality but affordable items.
As part of its plan, Bed Bath & Beyond will also expand its own label that has been more profitable for the company compared to selling third-party brands. CNN Business reported that the new label that the retail store is launching is called Simply Essential.
Shoppers will find over 1,200 home, bath, kitchen, and bedding products under this new brand. To give an idea of how inexpensive the items would be, there are bath towels that only cost $4 while there are fluffy pillows for $5 and serving spoons for just $1.
"Customers are looking for value-priced, hard-working, everyday items without sacrificing design or performance," Bed Bath & Beyond’s vice president and chief merchandising officer, Joe Hartsig, said in a press release. "With Simply Essential, 'home starts here' with the simplicity of great design across more than 1,200 products for every room, marrying form and function at everyday low prices that are incredibly wallet-friendly.”
Competition with the leading retailers
The firm further promised to provide the most necessary items for homes. The product assortment will be vast, high quality, and most importantly, these are affordable, which was the main reason why Simply Essential was created. Bed Bath & Beyond is hoping to attract more customers with its super-value items designed for better homes.
Bed Bath & Beyond is said to have struggled to remain in the game in recent years as it has many competitors in the home products market. Now it is trying to change the ranking and clinch the top spot by attracting more customers with its new line of more affordable offerings. Moreover, the company has always been seen as a bit more expensive than Amazon or Target, and BBBY is changing this consumer perception starting with the launch of Simply Essential.
