Bed Bath & Beyond Launch 3rd Owned Brand, Simply Essential

May 11, 2021  by Laurie Northington in Business Strategy, Industry   

As the company's first full-line assortment at opening price points and third Owned Brand launched this year, Simply Essential underpins Bed Bath & Beyond's commitment to appeal to a wide range of customer needs with new value-led options that eliminate gaps in lower price brackets.

"Customers are looking for value-priced, hard-working, everyday items without sacrificing design or performance," said Joe Hartsig, executive vice President and Chief Merchandising Officer at Bed Bath & Beyond. "With Simply Essential, 'home starts here' with the simplicity of great design across more than 1,200 products for every room, marrying form and function at everyday low prices that are incredibly wallet-friendly. Of all the Owned Brands that Bed Bath & Beyond will launch this year, Simply Essential represents the largest new product assortment and is intended to attract new customer segments for us. We're proud to introduce Simply Essential to inspire our customers to 'home, happier,' while also delivering on our commitment to bring them exceptional value for a home's most necessary items." 

Simply Essential includes more than 1,200 products spanning the company's top five destination categories – bed, bath, kitchen and dining, and storage and organization – at opening price points designed to appeal to a broad range of customers, including new target customer segments who are seeking value-based options at everyday low prices. The new opening price point assortment is a core tenet of Bed Bath & Beyond's three-year growth strategy and will extend the company's competitive positioning in key areas such as kitchen gadgets, where 50% of the market is priced below $5 in the 'good' and 'opening' price point brackets.