JC Penney: New pricing, new brands, liberal returns and Ellen
The wait is over. JC Penney’s big news has been announced. The chain has introduced a new pricing strategy, a new logo, new brands and a liberal return policy.
Called Fair and Square, the pricing strategy includes three types of prices: Everyday, Regular prices; Month-Long Values, even better prices; and Best Prices, the store’s lowest prices, which always happen on the 1st and 3rd Fridays of every month.
This pricing schedule will take the place of relentless sales, coupons, rebates and retail gimmicks. The chain will offer 12 promotional events each year, on a monthly calendar. Each month will include even better values on the things customers are looking to buy during the month, according to the company.
JC Penney also plans to re-invent the stores with a series of 80 to 100 brand shops. New brands include Martha Stewart and l’amour nanette lepore.
The new JC Penney brand identity includes a new logo and a familiar face, Ellen DeGeneres, who will be the pitch woman for the company. And the new return policy is simple — any item, anytime, anywhere.
The shopping experience begins Feb.1 with the new logo and pricing strategy. Then, beginning in August, the chain will start a month-by-month, shop-by-shop strategy to update all stores with new merchandise and presentation.
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