Dive Brief:
- Beyond Inc., the parent company of Overstock, Bed Bath & Beyond and Zulily, will improve digital CX as it pursues profitability, Marcus Lemonis, Beyond’s executive chairman, said on a Q2 2024 earnings call Tuesday.
- The online retailer recently improved its site search functionality, and it will enhance its customer data management capabilities in the coming months to offer personalized experiences.
- Beyond plans to develop a cross-brand loyalty program over the next 18 months as well. Existing Club O and Welcome Rewards members will be able to transfer their current points to the new program, according to Lemonis.
Dive Insight:
Beyond is rebuilding the customer experience of its recently revived brands, with initial investments emphasizing CX essentials.
Lemonis sees the basics of the digital customer experience, including the way customers travel through the websites, search functionality and presentation of product information, as part of the foundation for better margins and, eventually, growth.
“Until those things are right, and we’ve achieved our margins the way we need to, we will not be pressing the gas or wasting money on anything,” Lemonis said during the call.
Beyond’s goal is to breathe new life into its brand portfolio. The online retailer, formerly known as Overstock.com, acquired the intellectual property of Bed Bath & Beyond out of bankruptcy and Zulily following its liquidation, rebranding itself in the process.
The Overstock.com website was relaunched in March, and the rollout may be a blueprint for how Beyond plans to handle the rest of its CX evolution. Lemonis noted that while the company took time to test the search algorithm and find ways to improve the customer experience, it kept spending to the minimum.
Beyond is unlikely to experiment with the latest CX tools, but Lemonis called out the importance of reliable service. Even the best digital experience falls flat if customers can’t connect to the site.
“When you run an e-commerce business, it’s open 24/7, and we need to have a management team and a supporting staff underneath them that understands that the customer experience can never be impaired,” Lemonis said.
