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What is Beyond+ and how much does it cost?īeyond+ provides free shipping and a discount on all (well, most-we’ll get to that) purchases. We dove into what Beyond+ is, how it works, and what to consider if you're thinking about becoming a member. If you’re a regular BBB online shopper, then you’ve seen the different pricing for members versus non-members-but what comes with a Beyond+ membership? And is it even worth the cost? But are you familiar with Beyond+, Bed Bath & Beyond’s yearly membership program? Though the service launched in 2018, it doesn’t get much fanfare like the aforementioned memberships, including Walmart+ which is less than a year old. "It's a lot of inventory, it's a lot of supply chain management, but it's all stuff we've done before, so we feel pretty comfortable on our timeline," he said.Īmlani said Putman's strategy is "a crazy idea but it could work if certain ducks are in order.Amazon Prime and Walmart+ are probably the most notable membership programs that offer discounts, with free shipping being the major draw.
She says it's a monumental task to make sure the chain will have inventory on the shelves in time for launch, but Putman says he is confident that won't be an issue, since vendors were very receptive to the plan. "That home customer has more choices than ever." "How do they know what the customer wants from them, as they never existed before?" she said. She notes that one of the chain's locations will be in London, Ont., in an outlet mall that already has a half-dozen other chains selling similar goods in close proximity, from Winners, Marshalls and HomeSense to Bouclair, Urban Barn and Kitchen Stuff Plus.
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The home and decor market that rooms + spaces is targeting, meanwhile, is huge and growing, she says, but already full with experienced, large players. "They got a great deal," retail consultant Liza Amlani says, but that's not to suggest that either venture is without risk.
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Putman says he would have been prepared to start with even more locations, but landlords had other tenants in mind.Ī major one of those tenants was revealed in a separate piece of news on Wednesday, as Canadian Tire announced it would be taking over 10 former Bed Bath & Beyond stores and converting them into Mark's Work Wearhouse and Pro Hockey Life locations.įinancial terms for Putman's transaction were not released, but the price tag for Canadian Tire's deal - $1.6 million to acquire 10 leases - suggests landlords were keen to find people to take over as many of Bed Bath & Beyond's several dozen locations as possible. The company will be hiring about 500 people off the bat, and the venture will be led by Greg Dyer, the former general manager for Bed Bath & Beyond in Canada.
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In total, rooms + spaces will launch with 800,000 square feet of retail space, plus an e-commerce website. "In some cases, there were other retailers that were interested and in some cases, the deals just didn't make sense to do it, anywhere that we're not, we're still looking," he said. That's less than half of the 60-odd locations that Bed Bath & Beyond took up, and Putman says he would have been happy to take in more. Putman's endeavour will start with 21 locations scattered across Ontario, British Columbia, Alberta, Saskatchewan and Newfoundland and Labrador. "We felt like we could put together a team that could service the Canadian marketplace, the way that Bed Bath & Beyond used to." That's a reference to Putman's previous retail ventures, all of which follow a similar pattern: coming in and either moving into former locations of a defunct chain, or in some cases buying up the brand itself. "That is kind of the story with most things that we buy - good companies that have just lost their way," he said. Can a 34-year-old Canadian business school dropout rescue Britain's HMV?.
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