JCPenney | Verdict Company Briefing

Published: July 2012

Publisher: Verdict

Product ref: 146575

Pages: 23

Format: PDF

Delivery: By product vendor

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Price: $ 400.00

Report description

JCPenney is implementing a turnaround strategy in light of a poor trading performance since 2008. The retailer has chosen to completely overhaul its pricing strategy and stores, however it will take time to change consumer behaviour and revitalise sales. This Verdict company briefing includes analysis of sales and space data over a six year period and a global market share for 2011.

  • Benchmark JCPenney's performance by discovering its six year sales and space history.
  • Understand how to introduce exclusive designer ranges by learning about JCPenney's partnerships.
  • Justify and inform development of private label ranges by uncovering JCPenney's activity in this area.

In January 2012 JCPenney unveiled its new aggressive strategy, aiming to transform the business by putting more emphasis on brands and less on promotional pricing. The retailer will invest $800m in stores using cash generated from the business. Currently customers visit stores four times a year but this plan aims to increase that to once a month.

Since announcing poor sales figures for Q1 FY2013 the retailer has made changes to its marketing and advertising, making the new pricing strategy easier to understand to avoid confusing shoppers. It is clear that there has been an initial disappointment in the lack of discounting and couponing, which consumers have become used to.

Despite JCPenney's attempts to alter its proposition to make it more appealing to younger consumers with the inclusion of new ranges such as MNG by Mango and Call It Spring, females aged 30 and over continue to be its core customers. The retailer needs to further develop its offering to suit young shoppers and provide a more fashionable offer.

  • What was JCPenney's share of the global department store market in 2011?
  • What is JCPenney's turnaround strategy and how have the implemented changes been received by shoppers?
  • How has JCPenney targeted younger and more fashion conscious consumers through designer collaborations?

Table of contents

Introduction
JCPenney is implementing a turnaround strategy in light of a poor trading performance since 2008. The retailer has chosen to completely overhaul its pricing strategy and stores, however it will take time to change consumer behaviour and revitalise sales. This Verdict company briefing includes analysis of sales and space data over a six year period and a global market share for 2011.
Features and benefits
Benchmark JCPenney's performance by discovering its six year sales and space history.
Understand how to introduce exclusive designer ranges by learning about JCPenney's partnerships.
Justify and inform development of private label ranges by uncovering JCPenney's activity in this area.

Highlights
In January 2012 JCPenney unveiled its new aggressive strategy, aiming to transform the business by putting more emphasis on brands and less on promotional pricing. The retailer will invest $800m in stores using cash generated from the business. Currently customers visit stores four times a year but this plan aims to increase that to once a month.
Since announcing poor sales figures for Q1 FY2013 the retailer has made changes to its marketing and advertising, making the new pricing strategy easier to understand to avoid confusing shoppers. It is clear that there has been an initial disappointment in the lack of discounting and couponing, which consumers have become used to.
Despite JCPenney's attempts to alter its proposition to make it more appealing to younger consumers with the inclusion of new ranges such as MNG by Mango and Call It Spring, females aged 30 and over continue to be its core customers. The retailer needs to further develop its offering to suit young shoppers and provide a more fashionable offer.

Your key questions answered
What was JCPenney's share of the global department store market in 2011?
What is JCPenney's turnaround strategy and how have the implemented changes been received by shoppers?
How has JCPenney targeted younger and more fashion conscious consumers through designer collaborations?

Price: $ 400.00

Related research categories

By company: J. C. Penney Corporation, Inc.