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Is this Everyday Low Price (EDLP) spun as a membership program? Will the elimination 0f the 20% Coupon’s “scarcity,” remove BBBY’s greatest customer activation trigger, or will the $29 annual fee create the “shop here first” behavior that Amazon enjoys with its Prime Members? The Amazon Prime comparisons always gets me as none of these membership programs come with all of the other value-adds that Prime does, (i.e.video streaming, cheap unlimited music). To truly compete, I think more complementary partnerships are required to enhance the value of these initiatives (e.g. discounted Uber/Lyft rides, Care.com services, etc [requested through the BBBY app] ), plus the extension of this membership’s benefits to the other BBBY subsidiaries. All in all, I do like BBBY’s willingness to test bold initiatives like this.
Reference Articles:
- BusinessInsider: Here’s why Bed Bath & Beyond’s membership model could pay off
http://www.businessinsider.com/heres-why-bed-bath-and-beyonds-membership-model-could-pay-off-2016-10 - WSJ: Bed Bath Tries to Move Beyond the Coupon
http://www.wsj.com/articles/bed-bath-tries-to-move-beyond-the-coupon-1475746974 - RetailWire: Should Bed Bath & Beyond ditch its coupons?
http://www.retailwire.com/discussion/should-bed-bath-beyond-ditch-its-coupons/
