Is the Beyond Inc. Team-Up With X a Good Move?

Beyond Inc., the parent company of Bed Bath & Beyond, Overstock, and Zulily, has announced a significant partnership with X, the social media platform formerly known as Twitter. This partnership marks a new chapter for Beyond Inc.’s brands and their online presence.

The collaboration will involve creating custom short- and long-form content, implementing customer acquisition and retention strategies, and promoting the company’s brands during key events and holidays. It also includes future shopping integration, according to Beyond’s press release.

Marcus Lemonis, executive chairman of Beyond Inc., highlighted the platform’s extensive reach and engagement with over 100 million users in the United States.

“We are thrilled to be an integrated partner with X as they help us engage more effectively across their 100 million plus U.S. users with both creative content and brand-specific promotional messaging. We recognize the power of the X platform and level of engagement users have with it.”

Marcus Lemonis, Executive Chairman of the Beyond, Inc. Board of Directors, via BusinessWire

As part of the announcement, Overstock.com, which “went dark after the company’s acquisition of Bed Bath & Beyond,” is being relaunched with a focus on offering huge deals with discounts ranging from 30% to 70%. The CEO of Overstock, Dave Nielsen, emphasized the importance of returning to the brand’s roots.

“Over the next several months we will be rolling out additional categories and vendors in addition to the core focus of furniture, patio, rugs and jewelry.”

Dave Nielsen, CEO of Overstock, via CSA

The revamped Overstock platform boasts several improvements aimed at enhancing the user experience and driving sales conversion. Beyond Inc. is committed to expanding its product offerings and investing in technology to prioritize customer satisfaction.

Lemonis stated during a February earnings call with investors that the relaunch, originally scheduled for September 2024, is now on an accelerated timeline, deemed a “silver bullet.” He outlined that Bed Bath & Beyond and Overstock will serve distinct purposes. Overstock’s clientele typically make larger, less frequent purchases and boast higher incomes, with an average order value surpassing Bed Bath & Beyond’s by over $50, where customers tend to make more regular, lower-cost purchases.

Furthermore, Overstock experienced leadership changes. Jonathan Johnson stepped down as CEO in November 2023, prompting the retailer to commence a search for his successor. Then, in February, Dave Nielsen was appointed Overstock CEO after serving as interim CEO of Beyond.

On March 25, Beyond appointed Carlisha Robinson, former chief product officer at Overstock, as its new chief customer officer. In her expanded role, Robinson will oversee product management, user experience, loyalty programs, and the launch of Beyond+ offerings. Chandra Holt, CEO of Bed Bath & Beyond, expressed confidence in Robinson’s ability to enhance the customer experience through her strategic vision and understanding of customer needs. Holt, who assumed the CEO role in February, previously served as CEO and president of Conn’s HomePlus.

Beyond Inc. has a diverse portfolio of online-only brands, including Bed Bath & Beyond and Overstock.com. The recent acquisition of Zulily’s intellectual property and brand assets further strengthens Beyond Inc.’s position in the market. The company plans to relaunch the Zulily platform later this year, aiming to build on its success as a flash sale pioneer.