It looks like Bed Bath & Beyond
BBBY,
shoppers will soon become Amazon
AMZN,
Target
TGT,
and Walmart
WMT,
shoppers.
Those are the three retailers that stand to benefit the most from the home-focused retailer’s impending closure, according to a consumer survey from Numerator, a data and technology company.
Specifically, 68% of shoppers said they would look to Amazon, 58% cited Target and 48% pointed to Walmart as their Bed Bath & Beyond substitute.
Other retailers, both online and brick-and-mortar, also mentioned as alternatives included HomeGoods
TJX,
At Home, Macy’s
M,
Wayfair
W,
Crate & Barrel, Williams Sonoma
WSM,
Overstock
OSTK,
and Nordstrom
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However, John Zolidis, a veteran retail analyst and president of Quo Vadis Capital, told MarketWatch that retailers might want to limit their expectations, noting that with so many stores looking to fill the Bed Bath & Beyond void, the sales bump might be limited for each.
In effect, the bump “is going to be dispersed,” Zolidis said.
The Numerator research mostly tallies with analyst comments in the wake of Bed Bath & Beyond’s bankruptcy, and the subsequent rise in the share price of some of that retailer’s competitors.
The survey, which reflected the opinions of 500 verified Bed Bath & Beyond shoppers, also looked at retailer preferences in individual product categories. In those instances, Target edged Amazon and Walmart in many cases — being the preferred Bed Bath & Beyond alternative in such categories as small appliances, décor and kitchen/dining.
Peter Greene, a practice director with Numerator, said however you look at the data, it spells opportunity for various retailers, from big-box merchants to department stores and houseware-focused chains.
They can “win with these disenfranchised [Bed Bath & Beyond] shoppers by filling the void and making sure their product mix meets these consumers’ needs,” Greene said in a statement.
