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J.C. Penney gets rid of hundreds of sales - UPDATE: "Sales" are Back!

submitted on January 25, 2012 by pravallika in "Stores / Merchants", last updated on June 6, 2012 by HouTex
UPDATE: After just over 4 months, JCPenney is abandoning this plan, see last comment.

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It is a sale year around at J.C. Penney! Smile

J.C. Penney is permanently marking down all of its merchandise by at least 40 percent so shoppers will no longer have to wait for a sale to get the lowest prices in its stores.

Penney said Wednesday that it is getting rid of the hundreds of sales it offers each year in favor of a simpler approach to pricing. On Feb. 1, the retailer is rolling out a three-tiered strategy that offers "Every Day" low pricing daily, "Monthly Value" discounts on select merchandise each month and clearance deals called "Best Price" during the first and the third Friday of each month when many shoppers get paid.

The plan, the first major move by former Apple executive Ron Johnson since he became Penney's CEO in November, is similar to Wal-Mart's iconic everyday low pricing strategy. The difference is that Penney's goal isn't to undercut competitors, but rather to offer customers more predictable pricing.

"Pricing is actually a pretty simple and straight forward thing," Johnson told the Associated Press during an interview ahead of the announcement. "Customers will not pay literally a penny more than the true value of the product."

http://finance.yahoo.com/news/.....54852.html
     

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  Comments
  • 141045
    bemicmom
    professor
    6 3 4
    10 9 2
    Posted by bemicmom on January 25, 2012
    [reply] 1 0
    Great info!
  • 141059
    HouTex
    admin
    Posted by HouTex on January 25, 2012
    [reply] 1 0
    pravallika, you cannot copy anything verbatim from another site, it is plagiarism.
    You can either summarize the article in your own words or show a portion of it as "quoted."
      141063
    • pravallika
      master
      2 2
      8 4 1
      Posted by pravallika on January 25, 2012
      [reply] 2 0
      Even from yahoo also.ok nxt I will not copy
  • 141061
    pravallika
    master
    2 2
    8 4 1
    Posted by pravallika on January 25, 2012
    [reply] 1 0
    ok
  • 141133
    kdkdkdkd
    apprentice
    2 1
    Posted by kdkdkdkd on January 26, 2012
    [reply] 1 0
    Thanks for the info, Pravallika. Smile
  • 141142
    roxytang
    professor
    2
    10 7 2
    Posted by roxytang on January 26, 2012
    [reply] 3 0
    I just saw a TV commercial about this. It showed 3 women in different "just missed the sale" scenarios. Very funny.
  • 141180
    DebsFreebies
    professor
    2
    10 5 1
    Posted by DebsFreebies on January 26, 2012
    [reply] 1 0
    Man̄ci pōsṭ, samācāraṁ dhan'yavādālu

    Good post, thanks for the info
  • 141906
    HouTex
    admin
    Posted by HouTex on February 1, 2012
    [reply] 3 0
    Here are details of the new policy, starting today (February 1, 2012) -
    http://ebm.jcpenneyem.com/c/ta.....In/doc.htm
    Three kinds of pricing:
    Red - Everyday prices
    White - Month-long values
    Blue - Best prices on the 1st and 3rd Fridays of every month

    One amazing return policy
    :
    Any item, anytime, anywhere
  • 141970
    kdkdkdkd
    apprentice
    2 1
    Posted by kdkdkdkd on February 2, 2012 [reply] 0 0
    Ah, they're bringing back THAT return policy, lol.

    I remember that return policy when I worked at JCPenney as a teen. People returned stuff they didn't even buy from JCPenney, haha.

    So, if you have some unwanted gifts, you know where to go. Smile
  • 142190
    mommy25
    professor
    1 4
    8 7 2
    Posted by mommy25 on February 4, 2012
    [reply] 2 0
    In my opinion, this will be bad for business. People shop in the stores when they get the $10 off $25, or $10 off $10. I don't think i will shop there as often. I went in the other day, their prices are not that good, without a coupon, i left with nothing. Sad
      142194
    • bemicmom
      professor
      6 3 4
      10 9 2
      Posted by bemicmom on February 4, 2012
      [reply] 1 0
      You are right..me too wait for jcpenney's coupon to shop there.
      I love that store But shopping without coupon will be little expensive as we can get almost same price or less + extra coupon savings in kohls.
    • 142233
    • HouTex
      admin
      Posted by HouTex on February 4, 2012 [reply] 0 0
      I stopped by the JCPenney store for some bath mats that I had previously seen marked $8 each.
      Last month I was hoping for one last coupon for $10 off $25 to buy some. The mats had a new red sticker applied over the original price, and employees throughout the store were busy applying red sticker prices to everything.
      But back to the bath mats - the ones I wanted were not cheaper, half of them were still $8 and the rest were $9. Eeek
    • 142241
    • roxytang
      professor
      2
      10 7 2
      Posted by roxytang on February 4, 2012
      [reply] 2 0
      I agree with you mommy25. Anyone want to place bets as to how long before JCP goes back to the coupons?
    • 142296
    • YanBz
      admin
      Posted by YanBz on February 5, 2012
      [reply] 1 0
      They will do it at the next shareholders meeting Mr Green
  • 142303
    mommy25
    professor
    1 4
    8 7 2
    Posted by mommy25 on February 5, 2012 [reply] 0 0
    I do hope they go back to coupons.
  • 142385
    volleygal
    learner
    Posted by volleygal on February 6, 2012
    [reply] 1 0
    I like the coupons! I will miss them.
  • 142394
    pablos17
    deity
    2 4 6
    10 8 2
    Posted by pablos17 on February 6, 2012
    [reply] 1 0
    I really hate that they took away the coupons. I would wait for such offers to shop there. I'm really happy that I no longer work there too -the stupid sticker replacement thing was a big hot mess.
  • 142403
    bemicmom
    professor
    6 3 4
    10 9 2
    Posted by bemicmom on February 6, 2012 [reply] 0 0
    I haven't went to jcpenney for long ..I think 2 months now. Did they stop that survey coupon also?
  • 150711
    sandyshore
    professor
    2 1
    12 8 1
    Posted by sandyshore on May 15, 2012
    [reply] 1 0
    Apparently this tactic is not working too well. JC Penney sales plummet http://finance.yahoo.com/news/.....14971.html

    I will say I miss my $10 off coupons and the $10 off $25, they did make me look more often at their merchandise. Can't say if that translated to buying more but I contemplated it more often than now.
      150720
    • HouTex
      admin
      Posted by HouTex on May 15, 2012
      [reply] 2 0
      The most interesting thing is that a lot of JCP's prices really are cheaper, but shoppers' perception is that they are not. The sales and coupons are what brought them to the store or the site. Recently I happened to compare with Kohl's, and discovered how high some of Kohl's prices really are. After working very hard to combine a sale and a coupon for a limited time and a limited number of items at Kohl's, when I compared prices afterward I found the same items cheaper at the regular price at JCP. So I could have paid the same without the trouble of dealing with time restrictions, coupons, or sales, and paid the same. Cry

      I was wondering if anyone else has had the same experience.
    • 150966
    • YanBz
      admin
      Posted by YanBz on May 18, 2012 [reply] 0 0
      This is how our heads work and you can't change that overnight Smile

      I heard on NPR that the main reason college prices are high (and getting higher) is so that we perceive them as money well spent after we get a much lower price after a merit/hardship discount
  • 150733
    Robert
    guest
    Posted by Robert on May 15, 2012 [reply] 0 0
    You can now buy JC Penny gift cards online for a 25% discount. thats what I use instead of coupons now. I bought $48 gift card for $36 and bought shirts last week.
  • 152534
    HouTex
    admin
    Posted by HouTex on June 6, 2012
    [reply] 1 0
    Were we taking bets on this? Mr Green The strategic overhaul by JCPenney CEO Ron Johnson did not work to stop their declining business. They've apparently realized that the word 'sales' drives consumers to stores.

    See http://www.chicagotribune.com/.....4725.story
    J.C. Penney Co. Inc. is bringing back the word "sale" in its advertising in hopes of stemming a sharp slide in business.

    The retailer has avoided using the word "sale," instead calling the events "month-long values." That didn't work.

    "We're moving away from the word 'month-long value' because no one really understood that, to calling it what we intended to do, a sale," Johnson said.

    In April, Penney started running ads called "Do the math," trying to show that everyday pricing meant lower cost than a sale and a coupon.

    Last month, Penney reported same-store sales in the first three months of the new pricing model fell a far worse-than-expected 18.9 percent. It also posted a large net loss and cut its dividend.


    Instead, they are planning to add "shop-in-shops" (first in apparel) in the fall and redesign the home department next spring. Read about that here --> http://www.hometextilestoday.c....._reset.php

    Will it work for Penney's? Sounds just like the "Shops at Target" launched last month. http://www.hometextilestoday.c....._month.php
      152553
    • bemicmom
      professor
      6 3 4
      10 9 2
      Posted by bemicmom on June 6, 2012
      [reply] 1 0
      I literally stop shopping at JC Penney after they had taken down coupons...
      Their prices may be less but what tempt us(buyers) is coupons and sale banners...
      Let's see what's coming.......
  • 152567
    sandyshore
    professor
    2 1
    12 8 1
    Posted by sandyshore on June 6, 2012 [reply] 0 0
    We like sales because we feel like we are getting one over on retailers. It's just the way it is, even if Penney's prices were lower, and many of them were, we expect to have to be smart enough to get a good deal. When what really happened was without a challenge people stopped shopping Penney's. Ironic!
  • 167931
    sueskabuxr
    learner
    1
    Posted by sueskabuxr on January 28, 2013 [reply] 0 0
    Shoppers generally know what is a good price. We are used to coupons and sales alerting us to the possibity of better deals. Really wished it could have worked for them, but no I did not shop there more. My intentions were to check out JCPenny's new lower prices, but without the coupons and sale ad reminders it was out of site out of mind for me.
  • 167938
    HouTex
    admin
    Posted by HouTex on January 29, 2013 [reply] 0 0
    Just announced -
    J.C. Penney is bringing back sales.

    The struggling department store chain this week will begin adding back some of the hundreds of sales it ditched last year in hopes of luring shoppers who were turned off when the discounts disappeared.

    See http://www.usatoday.com/story/.....s/1871507/ 1/28/13
  • 167940
    NicoleLive
    learner
    Posted by NicoleLive on January 29, 2013 [reply] 0 0
    Every day low prices is always a gimmick to attrack the consumer's eyes. I'm one of it.
  • 172803
    acidreign
    master
    4 1 1
    Posted by acidreign on April 8, 2013 [reply] 0 0
    J.C. Penney: CEO Ron Johnson leaving company

    http://www.cbsnews.com/8301-34.....g-company/

    Well, we all knew this was coming...
      172815
    • YanBz
      admin
      Posted by YanBz on April 9, 2013 [reply] 0 0
      I learned today that he actually never relocated from CA to TX where J.C.Penney is headquartered, plus he cashed out all of the signup bonus stock options right away after he became the CEO of the company. You can't expect much from a CEO with this level of engagement/commitment.
    • 172822
    • onkarkulkarni
      professor
      9 4 4
      11 8 2
      Posted by onkarkulkarni on April 9, 2013 [reply] 0 0
      He was in fact fired for incompetence an did not resign voluntarily. They have reinstated the old CEO in place now. Hopefully sales should improve!
    • 172861
    • clover
      professor
      1 6 7
      12 11 2
      Posted by clover on April 9, 2013 [reply] 0 0
      From what I read this morning people weren't happy that they brought the old CEO back. Should be interesting to see the results.

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