On 06/21/23, Overstock won the bid for Bed, Bath, and Beyond’s intellectual property, business data, and rights to mobile applications. According to Earnest Analytics transaction data, only 4% to 9% of Bed Bath customers also made a purchase at Overstock over a twelve month period from December 2019 to March 2023. This despite a pandemic related cross shop bump brought on by brick and mortar store closures, government stimulus, and widespread inventory shortages.
This relatively low overlap suggests that despite Bed Bath and Overstock both competing in the Home Furnishings category, the two have different historic customer profiles. Overstock’s acquisition of the Bed Bath banner could unlock a significant number of new customers for Overstock.
The post Overstock reaches for Bed, Bath, & Beyond customers with IP acquisition appeared first on Earnest Analytics.
View Original Article
