Blog: JC Penney begs customers to come back
Petah Marian | 3 May 2013
JC Penney has released a series of ad begging for consumers to give it a second chance, following the departure of former CEO Ron Johnson after his ambitious plan to transform the business failed.
"It's no secret, recently JC Penney changed. Some changes you liked and some you didn't, but what matters from mistakes is what we learn. We learned a very simple thing, to listen to you. To hear what you need, to make your life more beautiful. Come back to JC Penney, we heard you. Now, we'd love to see you," the ad implores.
One of the cornerstones of Johnson's plan was no-couponing, no discounting, "fair and square pricing", which saw the company move to an EDLP model, something that seemed to turn off consumers.
According to an article in Time Magazine, the retailer has now quietly started raising its everyday prices, mainly so that it can put them back on sale in the hope of wooing back customers.
Indeed, one bargain hunting website has begun tracking prices at JC Penney, and has found that the prices of certain items, particularly designer furniture, have risen by 60% or more at JC Penney almost overnight, the Time article said.
Now the question remains, if JC Penney gives its customers what they seem to want, will it be enough to get them back into stores?
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