Bed Bath and Beyond, a store known for its famous twenty percent off any single item coupons may be losing money with their leniency on coupons, returns and issues with theft.
The store not only sends out coupons on a regular basis, but they also accept coupons that are expired. Coupons with expirations of almost ten years ago are still being used today in stores (James) and are completely welcomed.
The store not only sends out twenty percent off coupons, but also five dollars off of a fifteen-dollar purchase coupon. Calculated correctly, this coupon is almost equivalent to a 33 percent off coupon.
However, according to David, a manager at the store claims the store does not lose as much money as one would think. He says the coupons are already factored into the budget and pricing.
Although, the coupons are factored in, the company has been making revisions to newer coupons in an effort to save money. With the revisions, once the coupon has expired it saves you ten percent instead of twenty.
The store is also equally lenient with returns. They will allow a customer to return any item, no matter how much time has gone by since the purchase, and also even without proof of purchase.
But just as the coupons are being revised, the return policy has changed as well. If a customer doesn’t have a receipt, they will receive a store credit of twenty percent less than the original purchase.
Although these revisions have been made, some feel like Bed Bath and Beyond is still losing more money than they should. Chantel Baker, an employee says that the return policy is not a change that is helpful enough because one could steal an item and be able to return it for an undeserved store credit. Baker also claims that the company is too nice to the customers and “allows them to do whatever they want.”
Another employee, Jessica Larios, says that this particular Bed Bath and Beyond located in Columbia Heights, is number one in the nation for theft. Larios also claims that her department (health and beauty) is stolen from the most, and believes something is stolen from that particular department every day.
She hopes that possible revisions with return policies and security change in an effort to preserve the stores revenue.