Bed, Bath & Beyond Reinvents The Wedding Registry
The beloved home goods brand is modernizing its registry systems to tap into the lucrative millennial wedding registry market.
Need to Know
- Bed, Bath & Beyond is launching a new digital wedding registry system called “Your Registry, Your Way” featuring the ability to enroll online, gift experiences, and start online “cash funds.”
- The wedding gift market is estimated to be $19 billion.
- Bed, Bath & Beyond has been struggling to engage consumers, with net sales of $2.8 billion which represent a 9% decrease YoY
- As of November 30, 2019, Bed Bath & Beyond had a total of 1,524 stores globally.
- According to The Knot, the total average order for wedding registries was 125 items totaling $4,853 in 2018.
Analysis
Bed, Bath & Beyond has invested in a new, digital way forward for it’s wedding registry business. Named “Your Registry, Your Way”, the registry is meant to provide more flexibility for modern couples, who might be more interested in cash funds and gift experiences as opposed to simply product essentials that have been customary for couples for years.
Customers will be able to add to their registry in-store, online, or with an app, and take advantage of helpful tools such as their registry checklist and price analyzer, as well as 20% off as a completion discount.
Interim marketing lead Michael Krueger says, “Your Registry, Your Way was created to conveniently combine alternative gifting options with traditional product essentials all-in-one place to make it easy for our registrants to create a home and life together.”
BB&B has also launched its second annual “Top 10 Wedding Registry Must-Haves” and “Wedding Registry Favorites Across the Country” infographics, which show their most popular choices in 2019.
The wedding gift business is estimated to be $19 billion, so it’s smart to try to take the lion’s share of that profit with a digital-first offering for couples. However, competition from David’s Bridal, Macy’s new partnership with Zola, and sites like The Knot are always around the corner.
If couples can take advantage of these new “cash funds” on Your Registry, Your Way, they could plan more than just their plates and appliances: they could plan for honeymoons, down payments for new homes, and other investments that would help the start of their lives together.
