Bed Bath & Beyond’s Latest Acquisition: Is Personalization the Next Big Thing in Home Décor?

 

Bed Bath & Beyond doesn’t necessarily have the unique flair of, say, an antique shop or small boutique furniture store, but it’s garnered much success as a go-to for most shoppers looking for home goods. That might be about to change, as the retailer recently acquired PersonalizationMall.com for $190 million in an effort to further develop and grow its product personalization category. PersonalizationMall.com sells customized gifts such as personalized mugs, t-shirts, blankets, and even Christmas ornaments and stockings. Seeing a missed opportunity when it came to providing personalized products for milestone events like weddings, baby showers, birthdays and holidays, Bed Bath & Beyond moved to add that channel to their business.

An e-commerce upswing

This acquisition not only adds personalization to Bed Bath & Beyond’s portfolio, it also brings a large new audience with it. PersonalizationMall.com reported an impressive $160 million in online sales in 2015, up 18 percent from $136 million the previous year. Expanding online through this acquisition creates a way for Bed Bath & Beyond to grow their omnichannel offerings with a whole new set of shoppers. Bed Bath & Beyond recently saw a drop in their online sales prior to this acquisition and have reacted by taking steps to fix the fall. Besides the acquisition of an online-only company with impressive revenue, they’ve also introduced an online loyalty program that is invitation-only and offers a 20 percent discount on all purchases as well as free shipping. Customers don’t want to feel anonymous – facilitating this connection with customers is crucial for bigger retailers. Taking steps to connect with customers creates a more personal and memorable experience. This also translates into their shopping choices – a home couldn’t be more personal to a person. Offering products that are unique and one-of-kind is a great way to forge a loyal relationship., and keep them coming back for more.

It’s all about the customer

As Bed Bath & Beyond’s CEO Steven Temares states, “We view personalization as a significant opportunity for us to create additional differentiation, and enable us to do more for and with our customer.”  Maintaining and growing their reputation as a destination for home goods shoppers in all stages of their life is the ultimate goal. By expanding and differentiating their products and services through this acquisition, Bed Bath & Beyond hopes to fulfill this mission.

Jill England

Jill England

Jill likes to share usable information with readers spanning industries such as food, travel, beauty, sports, pets, holistic health, and all things green. She's a curious and avid consumer of information of all kinds to enable continuous learning and sharing.
Jill England

Discussion

  • Personalization is by definition included in the definition of interior design. So, this is probably one of the most important trend of our time – more and more producers to allow it.