How many Bed Bath & Beyond coupons are you hoarding? You know, the "20 percent off one item" coupons that come in the mail or the "$5 off any $20 purchase" coupon?
Some BBB customers could easily have nearly a dozen going back to 2016 because the retailer accepts its own expired coupons.
Building off its coupon success, Bed Bath & Beyond earlier this year introduced its version of a loyalty program, called Beyond+. For $29 a year, program subscribers get 20 percent off every purchase made in stores or online. The fee is lower than Amazon's $119 per year or Restoration Hardware's Grey Card loyalty program, which charges $100 annually for a 25 percent discount.
"We're going to see more of this," said Dave Brennan, professor emeritus at the University of St. Thomas Institute for Retailing Excellence. "It's a way to lock in customers and keep them from going elsewhere."
Some may balk at paying a fee, but frequent shoppers will earn it back.
"We know how much our customers enjoy our 20 percent off one item coupons," said a Bed Bath & Beyond spokesperson in a statement. "We wanted to be able to offer our most loyal customers an easier way to receive 20 percent off their entire purchase and free standard shipping on all of their purchases."
Membership has some exclusions, similar to the coupons. The discount does not include more than 100 brands listed online including Breville, Dyson, Under Armour, Vitamix, Weber, diapers and baby food. Plus, heavy items such as furniture are not eligible for the free shipping.
Bed Bath & Beyond offers no refunds on memberships, prorated or otherwise. The company also auto-renews the memberships.