Bed Bath & Beyond scaling back on 20% off coupon mailers

'We’ve made our everyday price as competitive as possible'

Bed Bath & Beyond is thinking about consumer savings beyond its signature coupon mailers.

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The home goods retailer, known for its 20% off blue-and-white paper coupon cards that incentivize customers to shop in-store and online, is carving out other ways to promote deals.

Bed Bath & Beyond is overhauling its savings strategy beyond 20% off coupon mailers. (iStock)

"Coupons are part of our DNA and will continue to be a key part of the mix in the future, but we also know that many of our shoppers want to save in different ways,” Bed Bath & Beyond Chief Brand Officer Cindy Davis said in a statement to FOX Business.

“We’ve made our everyday price as competitive as possible and introduced dynamic pricing and data-informed promotions so customers get a great deal, with or without the coupon, on the items they love," she explained.

BED BATH & BEYOND OVERHAULS STRATEGY AFTER CLOSINGS, LAYOFFS 

The move to alter its saving incentives comes as the New Jersey-based retailer announced in the summer it would close around 200 of its retail stores and cut 2,800 jobs as part of a restructuring plan. And its parent company, Bed Bath & Beyond Inc., said it would sell some of its retailers like the Christmas Tree Shop in an effort to downsize and “further increase its financial strength."

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The homeware store will offer holidays deals through its Beyond+ rewards program that gives customers 20% off anytime they buy.

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“Along with Beyond+, which is the secret weapon to save throughout the year, this means we’ll always offer great value, an inspiring selection, and fast, easy and convenient omni-always shopping services like BOPIS, Curbside and Same Day Delivery,” Davis said in a statement.

The company said Wednesday it plans to overhaul its sales strategy by remodeling stores and improving its supply chain.

Daniella Genovese contributed to this report