Question: Do you agree with this discussion? How do you think about it? Please follow Note on Scholarly Journals: Scholarly journals are publications that contain articles
Do you agree with this discussion? How do you think about it? Please follow "Note on Scholarly Journals: Scholarly journals are publications that contain articles authored by experts, researchers, and academics within a specific field. These articles are usually more comprehensive and in-depth compared to those found in popular magazines or newspapers. Scholarly journals contribute to academic discussions and the advancement of knowledge within a particular discipline. They typically feature extensive citations, references, and may include supporting elements like charts, graphs, or tables. Scholarly journals are designed for an audience of scholars, researchers, and professionals within the field." Bed Bath & Beyond (BBBY) is one of the largest American-based home furnishing and accessories stores, founded in 1971. With store locations over 300 and mainly in North America, it also has a viable and successful online platform. In fulfilling its mandate to consolidate and expand the organization's advantage in the broad and competitive industry, strategic management helps an organization spot potential growth opportunities during its competitive battle, respond adequately to market saturation and e-commerce, and optimizeits operations (Fuertes et al., 2020). For instance, BBBY's strategic acquisitions provided the firm with more product diversification while covering more market ground. While understanding BBBY as a business, it is crucial to note that the company has experienced various problems in the years, which stemmed from changed consumer preferences due to technological growth, economics, and people's lifestyles. The emergence of new opportunities in internet retailing and various digital technologies impacted BBBY significantly and made it implement new strategies for creating a solid online identity(Flyverbom et al., 2017). The company reassessed its internet presence by redesigning the online portal in 2019, which offered easy accessibility and product organization and targeted suggestions for a relevant and unproblematic browsing experience. Furthermore, BBBY incorporated data analytics to capture consumers' buyer preferences and improve marketing. Similarly, during periods of economic unfavourability, such as during the COVID-19 outbreak, BBBY aimed at optimizing its product portfolio and loss-listening activities to keep profitability up; the firm adapted its product availability to incorporate core products like cleaning supplies and home office equipment. Today's consumer is more focused on convenience with a more personal touch; therefore - the omnichannel strategy of Bed Bath & Beyond. To accomplish this goal, BBBY offered variations such as buy-online-pick-up-in-store (BOPIS) and curbside pickup to present alternatives that cater to customers' desire to shop online and offline. These services, launched in line with the increasing demand for options that would allow avoiding direct contact with other people during the purchasing process, were beneficial for the customers and effective in increasing the traffic in the brick-and-mortar outlets. Since the retailers' operations have been responding to various changes, such as emerging use of technology, economic forces, and lifestyle changes, BBBY has placed itself in a vantage point to offer its services in the retail industry by aligning itself with these changes. Conclusion Overall, the Bed Bath & Beyond case does highlight the organization's ability to respond to new trends and consumer changes. BBBY's accretion of methods in dealing with technological advancement, the changes in the economy, and changes in people's lifestyles ensure that the company meets the tests of competitiveness in the retail industry. Thus, this kind of flexibility has contributed to the fact that the company can still operate as a large actor despite the volatile context
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