Department store J.C. Penney, now under the leadership of former Apple exec Ron Johson, has announced a new marketing strategy to try and revive the brand. The new plan, which will roll out in stores Feb. 1, gets rid of the hundreds of sales that the store was previously holding and instead offers lower prices all the time.
Prices are being slashed by 40% across the board, with special values being offered on a monthly basis, but only on limited items. There are pros and cons to this method, the pros being the draw of lower prices, and the cons being how “shoppers who love to bargain-hunt may be turned off by the absence of sales.”
To read more about J.C. Penney’s new marketing strategy, click here. This change could yield big results for the retail brand, but only if women (the ones making 85% of purchases for the family) will buy into it. If J.C. Penney can show that it will offer more fashion forward pieces, with quality and value, the money will follow. As a public relations firm specializing in marketing to women, we are curious to see how this plays out.
FletcherPR is a national communications firm that specializes in reaching women through the power of media. Headquartered in Knoxville, TN with staff in Nashville & Los Angeles, we are a full-service agency providing strategic public relations, social media and marketing communications services to our clients throughout the U.S.