Coupons are as synonymous with Bed Bath & Beyond as foot-long receipts are with CVS pharmacy and Kohl’s Cash with that retailer.
But Bed Bath & Beyond has begun to rein in its addiction to giving shoppers coupons—and their addiction to getting them—as a centerpiece of CEO Mark Tritton’s efforts in his first year at the helm to restore the long beloved but troubled home goods retailer to glory. That’s not to say Bed Bath & Beyond is done with coupons. But Tritton is done with giving shoppers discounts that fail to gin up sales—perhaps because customers don’t really want them: nearly half of all coupons go unused.
“We overflooded the market with coupons,” Tritton tells Fortune. What’s more, their overuse has muddled people’s sense of what Bed Bath & Beyond’s goods cost and are worth. He adds: “Customers don’t want to need a math degree to work out … Read the rest
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