Bed Bath & Beyond CEO Says Digital Technology Impacts Customer Engagement

Bed Bath & BeyondBed Bath & Beyond CEO Steven Temares realizes that digital technology is changing the way people shop, impacting customer engagement at every turn.

“There is no doubt that digital technology is transforming retail and the way customers shop,” Temares said during the company’s June 24 first-quarter earnings conference call, according to Seeking Alpha. “For example, customers may now start their shopping experience with us online or through a mobile device to research an item, read customer reviews, or compare price. Then they may go on to visit a store and interact with one of our associates before placing an order online or purchasing the item in the store. The evolution of omnichannel retailing has created a more seamless and personalized shopping experience for customers. At Bed Bath and Beyond, we have been committed to creating such an experience for quite some time.”

For the past decade, Temares said the company has leveraged its stores for order fulfillment.omnichannel strategy

“During the same time, our associates have been assisting customers and placing in-store orders via the Beyond Store,” he explained. “The Beyond Stores are proprietary in store web-based channels that extend the aisles of our stores by offering customers in our store a broader selection and assortment of products that can be shipped directly to their home. We also have a long history of accepting returns in-store without regard to the channel in which the purchase was completed. We believe these services are a natural extension of what we do to satisfy our customers. Our omnichannel strategy is centered on the customer. We believe we have aligned our organization and our strategy to allow us to provide our customers a seamless experience and we continue to work to improve upon this experience, whether they are interacting with us in a store, on the desktop or tablet, on a smartphone or through social media. Supporting this strategy are our key initiatives involving merchandising, marketing, analytics, fulfillment and customer service.”

During the first quarter, Temares said comparable sales consummated through customer-facing websites and mobile applications grew in excess of 35%, while comparable sales consummated in stores were relatively flat.

“Our digital channels have benefited from the investments made to-date and we continue to test and add new functionality to our websites and apps,” he explained. “Our mission to do more for and with our customers starts with our merchandise and services and our focus remains on increasing and differentiating these offerings. We do this in many different ways, such as by introducing new categories, developing innovative product, offering exclusive products, developing private-label brands, being the first to introduce a new product into the market, extending the quality, value and assortment of products in existing categories, enhancing our delivery and payment options, as well as providing other services and solutions.”

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