Female Gen-X, Millennial Opps: Bed Bath & Beyond's CMO steps down following acquisition (Score 59)

Sales lead: Keep an eye on this company so that you are prepared to reach out once it hires a new CMO. 

• Bed Bath & Beyond (BB&B) lost its CMO, Angela Hsu, who stepped down in September 2023.
• President Dave Nelsen will handle marketing duties during the search. 
• This closely follows BB&B merging with Overstock, which resulted in a new company operating under the BB&B name.
• We will be sure to update you as soon as a replacement is announced. 

Target demographic: Gen-X & millennial women 

The company will likely:

• Return to higher ad spending
• Seek new agency partners
• Increase promotional activity/launch a campaign to promote the relaunch. 

Broadcast insights (TV ad creative spend, effectiveness, impressions, and performance)

• YTD spend: BB&B spent around $303k on national TV ads YTD, a drastic drop off from $8m spent in this channel during the same time period of 2022.
• 2021-2022 spend: Full-year spend plummeted from $23.2m in 2021 to $9.5m in 2022. 
• Ad location: It placed ads during programming such My Lottery Dream Home, Law & Order: Special Victims Unit, Love It or List It, Fixer to Fabulous, and NCIS. 

Digital and social insights (digital ad spend, effectiveness, impressions, and performance)

• YTD spend: BB&B spent about $2.3m on digital display ads YTD, a huge decrease from $22.6m spent in this channel during the same time period of 2022. 
• YTD data: 361.2m impressions via Facebook (64%), Instagram (25%), desktop display (6%), and YouTube (4%). 
• 2021-2022 spend: Full-year spend fell from $35m in 2021 to $29.3m in 2022. 
• Ad location: It placed 95% of these ads directly onto sites such as facebook.com, instagram.com, youtube.com, drudgereport.com, and yahoo.com. It placed 5% of these ads through multiple indirect channels onto sites such as yahoo.com, earthlink.net, msn.com, listenonrepeat.com, and pof.com. 

Additional channel insights  

• Vivvix: BB&B also invests in local broadcast. 
• Top podcasts sponsored: The NewsWorthy, Pod Save America, No Agenda, The Power Trip, and The Viall Files. 

Agency analysis:

• Opportunity: Be prepared to reach out as soon as BB&B hires a new CMO. 
• Current roster:
  • Ocean Media: Media AOR