No more sales! Except for when customers complain. No more sales! Except for when we can rename them monthly values. No more sales! Except for when it’s the holiday shopping season. JCP’s new motto could be, no sales, except for when it’s convenient.
This year, JCPenney will continue to honor tradition by giving their customers Black Friday and Cyber Monday sales opportunities. It’s not surprising, as JCPenney needs to do whatever they can to get shoppers through their doors.
JCPenney has come under scrutiny over the past several months due to their drastic restructuring of their pricing strategy, their cryptic and confusing commercials, and their loss of $123 million in revenue. With a decrease of 26% in store sales and 37% in online sales in the last quarter, many doubt the approach CEO Ron Johnson has taken.
I heard the company is giving out free buttons this season instead of coupons. Let’s just pin a button on and hope it distracts investors and consumers from the drastic decline in revenue that has swiftly followed intense shifts in JCP’s brand, strategy, and store experiences.
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