by The retailer’s latest move supports its ‘Everything Home‘ ecosystem
MURRAY, Utah — Marcus Lemonis, executive chairman and CEO of Bed Bath & Beyond Inc., recently stated that the retailer is pursuing an “Everything Home” strategy. With these recent acquisitions, the retailer’s intent to control more of the value chain for its customers is becoming increasingly clear.
Earlier this month, Bed Bath & Beyond Inc. announced several acquisitions, including installation and construction companies Installed Right and SFV Services. The company also acquired real estate services platform Fathom Holdings, adding brokerage, mortgage, title, insurance and homeowner financial services to its growing list of capabilities.
Last week, Bed Bath & Beyond Inc. announced the rollout of its new co-branded Bed Bath & Beyond + The Container Store retail format. Phase one will bring the new stores to 22 cities across the U.S., including Charlotte, North Carolina, Chicago, Miami and Nashville, Tennessee. Additional phases are expected to be announced in the coming weeks.
“Our customers don’t think about their homes in categories,” Lemonis said in a statement. “For decades, customers have had to visit multiple retailers, websites and service providers to complete a single home project. One company for bedding, another for storage, another for closets, another for installation. That model no longer works. We believe the future belongs to businesses that solve complete customer problems. By bringing Bed Bath & Beyond and The Container Store together, we’re creating a destination where customers can buy products, organize their spaces, design custom solutions and access services all under one roof.”
According to a news release, the company expects its new store format to become the foundation of a broader fleet of stores serving customers through products and services. Amy Sullivan, president of Bed Bath & Beyond Inc., said in a statement that while the first locations represent an important milestone, they are only part of a bigger vision for how products, services, technology and expertise can come together for customers to serve every stage of home and life.
“This isn’t a retail experiment,” Sullivan added. “It’s the beginning of a completely new model for home retail. We’re bringing together two brands customers already know and trust and making them even stronger together. The same organization expertise customers have always loved from The Container Store now sits alongside the breadth, value and inspiration of Bed Bath & Beyond.”
With its expansion into additional product categories and services, Bed Bath & Beyond isn’t the only retailer interested in pursuing the whole home. Last week, Home News Now Top 125 retailer City Furniture, which recently rebranded as City Home, announced it would offer appliances, bath, closets, electronics, fitness and kitchen products, as well as expanded services including interior design, connected home installation, custom cabinetry and storage solutions. The strategy underscores how home retailers are taking “one stop shopping” to a new level.
