If you watch TV, you have seen those annoying commercials for JC Penney. People screaming “Noooooo!” as they are inundated with sale flyers and sale signs everywhere. I do think the first scene is funny though, a women looking at a large SALE sign that says “Yesterday only!” - I can definitely relate! So today, February 1, they are rolling out a new, simplified pricing system. Calling it ”Fair and Square Pricing” No more sales! Instead they are going to offer a simplified 3 price strategy.
So what’s the deal?
JC Penney is getting rid of clearance sales, and instead offering Best Price deals on every first and third Friday of the month. (Not coincidentally, this is to coincide with many people’s paycheques). They claim to offer lower prices daily, as well as special prices on certain items for the entire month.
Some other points include:
- The new “Month Long Value” will feature certain items. For example, in February it will feature jewellery and Valentine’s Day gifts; while Christmas decorations will be featured in November. Apparently each month will even have its own colour, which will be reflected outside with their lighting fixtures.
- Simplified costs. No more 9.99 price tags. Instead, just a 9 or 10 dollar one. And while they used to pile stickers on price tags to show each time the item was marked down, every time there is a new price, it gets a new tag too. A red tag indicates an “Every Day” price, a white tag a “Month-Long Value” white tag and a “Best Price” blue tag.
- Over the next 4 years, putting in Main Street, a series of up to 100 brand shops (similar to the Sephora ones) replace the dozens of racks common in department stores. Some new partners are rumoured to be Martha Stewart and L’Amour by Nanette Lepore
- New spokeswoman Ellen DeGeneres
- A New, streamlined logo
So I guess we will have to see how this works. And if you haven’t seen those annoying commercials…. Here ya go!