Bed Bath & Beyond has seen shoppers opting for cheaper products from the likes of Target and Amazon, and the retailer has a plan to win these bargain-hunters back. With the launch of a new low-price brand, Simply Essentials, Bed Bath & Beyond is hoping to capture the dollars of value-conscious consumers with items such as a $1 serving spoon, a $4 bath towel, and a $5 pillow. The retailer says that it has neglected to cultivate a product presence at certain price points – namely, opening price points, or the cheapest prices in a given product category. Simply Essentials will add to Bed Bath & Beyond's lineup of private label brands while perhaps tempting bargain-hunters back into its stores.
"Wow-worthy prices on everyday basics," Bed Bath & Beyond boasts in a new advertisement.