Bed Bath & Beyond Innovates To Put Digital Purchases In The Hands Of More Customers Even Sooner

Rhea-AI Summary

Bed Bath & Beyond (BBBY) announced advancements in its digital services, launching Buy Online Pickup Curbside as early as 8 am, one hour before store openings. The company has also expanded Same Day Delivery to nearly 16,000 zip codes through a partnership with Roadie, leveraging over 200,000 drivers nationwide. Digital sales accounted for 38% of net sales in Q1 2021, with 31% fulfilled by store initiatives. Bed Bath & Beyond aims to enhance customer flexibility and convenience, continuing its transformation into a digital-first retailer.

Positive

• Buy Online Pickup Curbside now available starting 8 am, increasing customer convenience.
• Same Day Delivery expanded to nearly 16,000 zip codes, enhancing service reach.
• Digital sales represent 38% of net sales in Q1 2021, indicating strong online demand.
• 31% of digital sales fulfilled through store initiatives, showcasing operational efficiency.

Negative

• None.

UNION, N.J., July 14, 2021 /PRNewswire/ -- Bed Bath & Beyond Inc. (Nasdaq: BBBY) today announced more progress in its transformation to being a digital-first, omni-always retailer. Starting tomorrow, Bed Bath & Beyond® and buybuy BABY® customers can pick up Buy Online Pickup Curbside purchases at any store before the store has even opened for the day. Ideal for orders placed the previous evening and pickup during the morning commute to work, customers choosing this digital service can choose to pick up their orders curbside as early as 8am -- which is one hour ahead of typical store opening hours. All other Buy Online Pickup In Store and all other Curbside orders will also be ready in one hour from the time the order was placed, faster than the previous two hour "ready for pickup" window. 

Additionally, the Company today announced that it has nearly doubled the number of zip codes eligible for Same Day Delivery, thanks to a new strategic U.S. partnership with crowdsourced delivery platform, Roadie. Roadie boasts more than 200,000 verified drivers nationwide and will bring the total zip codes eligible for Same Day Delivery from Bed Bath & Beyond and buybuy BABY to nearly 16,000.

"We are excited to further reinvent digital services like Same Day Delivery and Buy Online Pickup Curbside or In-Store to get orders in the hands of our customers even sooner," said Rafeh Masood, EVP and Chief Digital Officer of Bed Bath & Beyond. "The country is getting 'back to normal' and we want to give consumers expanded flexibility on how to get online orders, within hours. Whether that means placing a last-minute Same Day Delivery order to better entertain this summer or picking up an online order on the way to work, we are finding new innovative ways to meet the evolving needs of today's digital customers."

"There's not always time to get to the store when you need to, and Roadie makes it easy for Bed Bath & Beyond to bring the store to you," said Marc Gorlin, Roadie's Founder and CEO. "Through Roadie's partnership with Bed Bath & Beyond and buybuy BABY, you can get the things you need right away, in more places than ever, whether you need new pajamas for your toddler or you've got your eye on an air fryer for dinner tonight."

The addition of Roadie as a Same Day Delivery partner strengthens this digital service available to customers located near virtually all Bed Bath & Beyond and buybuy BABY store locations. Customers receive updates on their order status via text, providing them with real-time visibility to when their order will arrive at their doors. Additional Same Day Delivery providers include previously announced partners DoorDash and Shipt.

Today's news continues Bed Bath & Beyond's progress on its omni-always, digital-first strategy. As reported in its recent Q1 2021 results, digital sales in the quarter were 38% of net sales. There were more than 500,000 downloads of the Bed Bath & Beyond mobile app in the quarter, bringing the total amount of app downloads across all banners to more than more than three million over the past year. Approximately 31% of digital sales in the quarter were fulfilled by stores through initiatives such as Same Day Delivery, Buy Online Pickup In-Store or Curbside, or orders shipped from stores to customers. More than 50% of all Bed Bath & Beyond customers shop both in-store and digitally, illustrating the power of the Company's omni-always approach.

About Bed Bath & Beyond
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.

About Roadie
Roadie is the nation's first "on the way" crowdsourced delivery platform. Founded in 2014, Roadie works with consumers, small businesses and big global brands across virtually every industry to provide a faster, cheaper, more scalable solution for scheduled, same-day and urgent delivery. With more than 200,000 drivers nationwide, Roadie's platform covers more than 20,000 zip codes – the largest local same-day delivery footprint in the nation.

Roadie is backed by Warren Stephens of Stephens Inc.; The Home Depot; UPS Ventures; Eric Schmidt's TomorrowVentures; David Bonderman, founder of TPG Capital; Guggenheim Partners' Executive Chairman Alan Schwartz; Square Co-Founder Jim McKelvey; among others. For more information, visit www.roadie.com.

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SOURCE Bed Bath & Beyond Inc.

FAQ

What new services has Bed Bath & Beyond launched in July 2021?

In July 2021, Bed Bath & Beyond introduced Buy Online Pickup Curbside as early as 8 am and expanded Same Day Delivery to nearly 16,000 zip codes.

How does Bed Bath & Beyond's Same Day Delivery service work?

Bed Bath & Beyond's Same Day Delivery service partners with Roadie, utilizing over 200,000 drivers to deliver orders quickly to customers in eligible zip codes.

What percentage of Bed Bath & Beyond's sales came from digital channels in Q1 2021?

Digital sales made up 38% of Bed Bath & Beyond's net sales in Q1 2021.

How many zip codes are eligible for Same Day Delivery from Bed Bath & Beyond?

As of now, nearly 16,000 zip codes are eligible for Same Day Delivery from Bed Bath & Beyond.

What is the significance of Bed Bath & Beyond's digital sales growth?

The growth in digital sales, which accounted for 38% of net sales, indicates a strong shift towards online shopping among consumers, enhancing the company's market position.