![]() ![]() Characterizing the consumer base in the trade areas of each of the company’s stores can help potential tenants identify attractive locations. But the company operates 360 venues in a wide variety of markets, so there is no one-size-fits-all tenant well-positioned to take over the brand’s entire real estate portfolio. Some of the home goods retailers currently competing with Bed Bath & Beyond may try to take over shuttered Bed Bath & Beyond stores. ![]() Significant Diversity Among Bed Bath & Beyond’s Trade Areas ![]() These brands are likely to see an additional boost in visits as Bed Bath & Beyond continues closing stores. Some of the rise in cross-shopping may be due to the other retailers’ expansions – for example, more Target stores means more opportunities for Bed Bath & Beyond customers to visit Target, which can drive a rise in cross-shopping.īut much of the increase in cross-shopping to the companies appearing in the graph below is likely due to Bed Bath & Beyond’s store closures in 2022, which led customers of the shuttered venues to look for alternate retailers for their home furnishings needs. The chart below shows retailers that already enjoy significant traffic from current Bed Bath & Beyond visitors and whose share of cross-shopping from Bed Bath & Beyond visitors has increased between 20. Other retailers that carry home furnishings and already serve Bed Bath & Beyond customers – including dedicated home goods retailers and superstores with a large home furnishings selection – are also likely to benefit from the legacy brand’s troubles. Who Will Serve Bed Bath & Beyond’s Former Customers?īed Bath & Beyond visitors already shop at a variety of other retailers that carry bedding, furniture, and other home goods, with Walmart and Target serving the largest share of Bed Bath & Beyond visitors in 2022. ![]() But between Q1 2018 and Q1 2023, Bed Bath & Beyond’s average visits per venue also fell significantly – 47.3% – indicating that the stores that remained open were attracting significantly less traffic than they had been several years before. And even as home furnishing visits surged over the pandemic, Bed Bath & Beyond visits continued to fall.īy Q1 2023, visits to the brand were down 63.4% relative to Q1 2018, due in part to large-scale store fleet consolidation efforts. Bed Bath & Beyond Traffic Has Fallen in Recent Yearsīed Bath & Beyond and its massive selection of bedding, towels, and home furnishings has served American consumers for over five decades – but in recent years, traffic to the brand has slowed. We dove into the location intelligence data to understand what happened to the brand and who stands to benefit from Bed Bath & Beyond’s store closures. Second, retailers with a large home furnishings selection – including dedicated home furnishing brands along with home improvement, superstores, and discounters – will likely see an uptick in visits from former Bed Bath & Beyond customers. First, chains looking to expand their brick-and-mortar footprint will be able to snap up retail vacancies created by the store closures. The recent news of Bed Bath & Beyond’s filing for Chapter 11 protection was met with little surprise – but the implications of the news on the wider home furnishing space are not as obvious.īed Bath & Beyond’s bankruptcy is likely to benefit two categories of retailers. ![]()
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