Free Newsletter
COLUMBUS, Ohio – Even though it has stopped accepting Bed Bath & Beyond’s legacy 20% coupons, Big Lots still sees opportunities to capture more of the liquidating retailer’s former customers.
Big Lot’s recent campaign to honor BBB coupons, which ended May 8, was “a great success,” according to CEO Bruce Thorn.
In addition to generating 90 million television and radio impressions, the move resulted in good redemption rates at Big Lots stores, which allowed the retailer to sign up more loyalty customers. In order to have their BBB coupons honored, shoppers had to visit a Big Lots store in person and enroll in the retailer’s free “Big Rewards” program.
During the recent first quarter investor call, Thorn noted that Big Lots stores near closing Bed Bath stores are well-positioned to pick up more business.
“We think there’s a big opportunity for us to bring in some of the dislocated customers from the Bed Bath & Beyond bankruptcy. We’ve got a good store footprint overlap with their stores within 10 miles,” he said.
Although Big Lots’ Q1 sales in home took a hit, the company expects improvement as its furniture business rebuilds with a new vendor base.
And as Bed Bath & Beyond finalizes its going-out-of-business sales, “we expect to get an influx of more customers. And we’ll focus on it as well as other companies that unfortunately have gone out of business,” said Thorn.
