(TSS was built on the foundation of what was once called Associated Merchandising Corp., an independent product development agency it bought in 1998.) In home, with the exception of small kitchen appliances which remain a national branded category, as much as 90 percent of Target’s assortment comes from its own in-house resources through TSS.īBB had none of that and when Tritton arrived he had to build such a department pretty much from scratch. It was an ambitious goal, but Tritton had seen such a strategy work at Target and was counting on BBB to be able to achieve similar results.īut there was one big difference: Target spent more than two decades developing its Target Store Services (TSS) operation which has become quite adept at creating compelling merchandise. When Tritton came on board he immediately announced that would change and the retailer would begin to develop a substantial portion of its assortment with private label, accounting for one-third of its volume by the end of 2023. Private label product developed internally represented a single-digit share of its overall business…a low single-digit share. It did have an in-house product development arm, but it was small, undermanned and overwhelmed. It depended on its vendors to bring products and designs which BBB then could tweak a bit (make that flower a little bigger or the color a little darker), but it pretty much bought just about everything off the shelf.
In 2019, prior to the upheaval in management, the board and pretty much everything at the company, Bed Bath had a business model in its merchandising operation that was both unusual and pretty much outdated.
BED BATH AND BEYOND JOBS MOBILE AL FREE
But even given that free pass, it’s not clear that the plan would have been successful in the best of times. To be fair, some of the lack of success – at least so far – is the result of factors totally out of Tritton’s control, like the pandemic and the resulting global supply chain meltdown. But Bed Bath is not Target and that’s why they are not working as well for the specialty chain as they did in his former life. There are three specific areas where Tritton has initiated big changes in the company that seem to be reflections of what he did at Target. But Bed Bath is not Target and that’s why they are not working as well for the specialty chain as they did in his former life.Īnd while there have been vast improvements in both Bed Bath’s in-store and online operations, it continues to struggle, losing money, market share and the confidence of some investors in a race to fix itself.
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