Bed Bath & Beyond has launched “Simply Essential,” a new affordable line of more than 1,200 essential items for every room of the home, designed to appeal to a broad range of customers. As the company’s first full-line assortment at opening price points and its third Owned Brand launched this year, Simply Essential is intended to eliminate gaps in lower price brackets, targeting customers seeking value-based options.
“Customers are looking for value-priced, hard-working, everyday items without sacrificing design or performance,” said Joe Hartsig, EVP and Chief Merchandising Officer at Bed Bath & Beyond in a statement. “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.”
Simply Essential products span the company’s top five destination categories — bed, bath, kitchen and dining, storage and organization, and home décor – at opening price points. The new value-price 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 total market is priced below $5 in the “good” and “opening” price point brackets, according to a release.
All products within the Simply Essential line are priced with value in mind, starting at $1 for kitchen basics such as ladles and serving spoons, and $5 for pillows. The entire line is priced under $200, with many products less than $50.