Bed Bath & Beyond Inc. Introduces Welcome Rewards

Rhea-AI Summary

Bed Bath & Beyond Inc. has launched the Welcome Rewards program, enhancing customer savings and perks across its brands, including Bed Bath & Beyond, buybuy BABY, and Harmon. Customers will earn points on every purchase with no exclusions, receiving 10 points for every $1 spent. New members can sign up for free and receive 5,000 bonus points until July 31, 2022. The program includes a premium tier, Welcome Rewards+, for $29 annually, offering additional benefits like 15% off purchases and free shipping. An integrated marketing campaign accompanies the launch, promoting consumer engagement and loyalty.

Positive

• Launch of the Welcome Rewards program expected to drive customer engagement and retention.
• Customers earn 10 points for every $1 spent, promoting regular shopping.
• 5,000 bonus points for new members enhances initial customer incentives.
• Welcome Rewards+ offers significant savings and perks for a low annual fee.

Negative

• None.

New Cross-Banner Rewards Program Helps Customers Open the Door to More Savings, Benefits and Perks at Bed Bath & Beyond, buybuy BABY and Harmon

UNION, N.J., June 23, 2022 /PRNewswire/ -- Bed Bath & Beyond Inc. (NASDAQ: BBBY) today unveiled Welcome Rewards^TM, a new program that will bring valuable savings, more benefits, and special perks to customers who shop online and in stores nationwide at Bed Bath & Beyond®, buybuy BABY®, and Harmon®. Welcome Rewards allows customers to get and redeem points across all three retail banners on every purchase, with no exclusions, every time they shop. The program is available now at Bed Bath & Beyond, buybuy BABY and Harmon sites, in addition to each banner's app, and is being rolled out to all stores in the coming weeks.

Welcome Rewards makes it easy to earn more savings, benefits and perks at Bed Bath & Beyond, buybuy BABY or Harmon.

"Our new Welcome Rewards program allows our customers to get even greater value, benefits and perks whenever and wherever they shop with us," said Rafeh Masood, EVP and Chief Customer Officer at Bed Bath & Beyond Inc. "More than 80% of our customers shared that they would be excited for a program that would allow them to earn rewards across all of our banners. Now, they can do just that, and without any exclusions on earning points, customers can also quickly gain rewards that will make shopping for everything from special occasions to everyday essentials even more affordable."

Welcome Rewards – How It Works
Welcome Rewards makes it easy to earn more savings, benefits and perks every time a customer shops at Bed Bath & Beyond, buybuy BABY or Harmon. From deals and discounts to exclusive services that make shopping even more seamless, Welcome Rewards help consumers "open the door to more." 

Customers who join Welcome Rewards will receive:

• Welcome Rewards (free tier to join):
• Earn 10 points for every $1 spent (5,000 points = $5 reward)
• 5,000 free points by signing up through July 31, 2022 ($5 value)
• Free standard shipping for all online purchases the first 7 days with no minimum purchase. Free standard shipping thereafter for orders $39 or more.

• Welcome Rewards+ ($29 annual fee):
• 15% off total purchases
• An extra 5% off by receiving 50 points for every $1 spent (5,000 points = $5 reward)
• 10,000 free points by signing up through July 31, 2022 ($10 value)
• Free standard shipping for all online purchases
• 4 times per year free Same Day Delivery (no minimum purchase) – a $40 value

• Welcome Rewards Credit Card (no annual fee)
• 1 free year of Welcome Rewards+ ($29 value)
• 15% off total purchases
• An extra 10% off by receiving 100 points for every $1 spent at Bed Bath & Beyond, buybuy BABY or Harmon.
• Free standard shipping for all online purchases
• 4 times per year free Same Day Delivery (no minimum purchase) – a $40 value

With Welcome Rewards, there are no product exclusions for earning points. This allows customers to unlock tremendous savings off a future purchase. For example, a Welcome Rewards+ member who purchases an iRobot® Roomba® s9+ (9550) Wi-Fi® Connected Robot Vacuum with Automatic Dirt Disposal that typically retails for $999.99 at Bed Bath & Beyond and most other retailers will receive approximately $50 in rewards to use on their next purchase. Similarly, a Welcome Rewards+ member will get nearly $30 in rewards when purchasing a Baby Jogger® City Turn^TM Convertible Car Seat that currently retails at buybuy BABY and most other retailers for $549.99. The purchase of an iHome® 10x/1x Beauty Vanity Mirror and Stereo Speaker with Bluetooth® Speakerphone, priced at $249.99 at Harmon and most other retailers, would result in a $10 reward – with points remaining to help the customer build towards the next reward.

Bed Bath & Beyond, buybuy BABY and Harmon websites and mobile apps offer a Welcome Rewards dashboard that allows customers to easily access their available points and rewards, exclusive benefits, birthday reward, and more. Over time, customers can expect new components to be added, including early access to new products, sales events, exclusive events, and expert reviews.

Coinciding with the Welcome Rewards launch, an "open the door to more" integrated marketing campaign will come to life through in-store and online marketing, including email, organic and paid social media ads, digital video, SMS, and affiliate marketing.

No, The Coupon Isn't Going Away
Welcome Rewards and Welcome Rewards+ members, and Welcome Rewards Credit Card holders, can choose to apply a Bed Bath & Beyond, buybuy BABY or Harmon coupon as part of their transaction and still earn valuable points for the entire purchase. For example, Welcome Rewards+ members can elect to apply a 20% off a single item coupon and still get 15% off the rest of their eligible items while also earning 50 points per dollar for their entire transaction.

Welcome Pay
As Bed Bath & Beyond Inc. continues to create innovative solutions that make it easier and more convenient to shop across its brands, the company is introducing an all-new pay-in-four solution, Welcome Pay. Welcome Pay offers customers a convenient opportunity to pay more flexibly over time, with no fees and zero interest. With Welcome Pay, customers can stretch their buying power even further. Payments can be managed through any of the banners' websites or mobile apps, and there is an ability for shoppers to pay in advance.

Additionally, Welcome Rewards or Welcome Rewards+ members choosing Welcome Pay at checkout at any of the three banners will receive an additional 10 points per dollar.

Beyond+
Current Beyond+® members can have their memberships transferred to Welcome Rewards+ to take immediate advantage of the program's benefits and perks.  Beyond+ and Welcome Rewards+ each provide members with 20% off value, while the new program extends to buybuy BABY and Harmon, among other valuable benefits and perks. Beyond+ members do have the option to stay in their current program until their membership's expiration date.

For more information on Welcome Rewards, please visit our site.

About Bed Bath & Beyond Inc.
Bed Bath & Beyond Inc. and subsidiaries (the "Company") is an omnichannel retailer that makes it easy for our customers to feel at home. The Company sells a wide assortment of merchandise in the Home, Baby, Beauty and Wellness markets. Additionally, the Company is a partner in a joint venture which operates retail stores in Mexico under the name Bed Bath & Beyond.

Bed Bath & Beyond operates websites at bedbathandbeyond.com, bedbathandbeyond.ca, buybuybaby.com, buybuybaby.ca, facevalues.com and decorist.com.

 

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SOURCE Bed Bath & Beyond Inc.

FAQ

What is the Welcome Rewards program by Bed Bath & Beyond?

The Welcome Rewards program allows customers to earn points on purchases at Bed Bath & Beyond, buybuy BABY, and Harmon with no exclusions.

How does the Welcome Rewards program work?

Customers earn 10 points for every $1 spent, with options for bonus points and cashback rewards on future purchases.

What benefits do Welcome Rewards+ members receive?

Members enjoy 15% off total purchases, 5,000 bonus points, and free shipping for an annual fee of $29.

Is there an expiration for the 5,000 bonus points?

Yes, customers must sign up by July 31, 2022, to receive the 5,000 bonus points.

How does the integrated marketing campaign support the Welcome Rewards launch?

The campaign utilizes in-store and online marketing strategies to promote the program and enhance customer engagement.