Sunday, August 5, 2012

It's no surprise that JC Penney has tweaked their pricing strategy again

I just read an article from that mentioned JC Penney has tweaked their pricing strategy again.

My June 20th post questioned the validity of the new "fair and square" strategy, as it required consumers to change their shopping behavior.

When I stumbled upon the latest news regarding "updated" pricing effective August 1st, I had to chuckle when I saw the following quote...

"We thought: 'Why are we trying to teach customers new language to shop?'" he said. "We're just trying to be straightforward."

I agree.  Clear and concise messaging is the ideal way to attract shoppers.
The company is also changing it's advertising to reflect a simplified message just in time for back to school shopping.  After JC Penny watches the impact of their updated strategy on revenues, they will have more data to determine if the tweaks were effective enough to ring in a prosperous holiday shopping season.  It will be interesting to see how Wall Street reacts in the coming months.

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