If you’re a fan of shopping at JCPenney, things are about to change. On February 1, 2012, they are launching their new pricing strategy, No More Madness.
You might have seen the commericals – a woman standing in a jewelry store, only to see that the sign hanging above her indicated that their huge sale had ended the day before.
Another woman opening her mailbox, only to be inundated with tons of coupons flying out. These are teaser commercials for their new look and sales approach, “Fair and Square pricing”. The commercial simply ends with their new logo, seen below, and “2.1.12”, to indicate that something big is going to happen come the first of February.
JCPenney’s new logo to go along with their new “Fair and Square” pricing approach, launching February 1, 2012 |
Their new approach is to offer everyday good deals, and put an end to coupons, percentage-off sales, and additional promotions. They will have a new “any item, anytime, anywhere” return policy (this sounds similar to Kohl’s great return policy), and they plan to have a more streamlined store appearance, with less clutter, getting rid of tables in the aisles, and less signage around the store.
I have to say, the return policy and the fresh in-store appearance sound great, but I am not too thrilled about the new pricing strategies. I’m not an avid JCP shopper, but when I do shop there, I am always heading to the sale and clearance sections, and almost always have a coupon. In my opinion, their regularly priced merchandise is overpriced, and I only really shop there when I am able to nab a great deal. Although they say that their regular prices will now offer “good deals all the time”, I’m not convinced.
This means what you see is what you get, and I’m not too sure that their prices will come down enough to satisfy their current customers. I’m also not sure why their commercial shows one woman shrieking over the fact that the price tag has additional markdown labels (it has label over label of new sale and clearance prices). To me, when you see that an item was labeled on sale, and then has an additional label to show that the item has been marked down even further, that is a great thing. I always jump for joy when I get deals like that, especially when I have a coupon to pair it with.
If their approach is to avoid the “cluttered” feel of coupons and clearance labels, I think they will lose a large chunk of their customers.
What do you think about their new approach?
3 Comments
As a bargain shopper I almost always shop sale/clearance/coupon items. Sounds like they will be losing me as a customer.
I 100% agree with you! I’m curious to see what their “good deal all the time” prices will be like. JCP was always perfect for finding GREAT sale/clearance items.
I was able to buy all new bedding- sheets, 4 pillows, a new comforter, 2 throw blankets and 4 decorative pillows for under $80! Many of the items were on clearance, and when my receipt printed a 30% on my next purchase the cashier actually returned all of my items and then re-sold them to me using the 30% off. Without all those sales/coupons I would have spent well over $200.
I’m definitely interested to see if I could make out as well next time around.
Completely agree – I don’t see how there could possibly be as many great deals just with moderately reduced pricing, and no promotions, sales, or coupons. We’ll see what happens!