Will JC Penney Be The Next Department Store To Fail?
Is JC Penney destined for failure? Earlier this year, the company rolled out their everyday low price and monthly special plan. Unfortunately, their new plan doesn’t bode well with their customers who want to use coupons.
The company’s stock has decreased by twenty percent the first quarter and now people are comparing JC Penney to another failing department store Sears. Fortunately, the company doesn’t have plans to give up anytime soon, they said their makeover was ahead of the schedule.
I think the big thing here isn’t really so much the fact that JC Penney is failing to provide the customers what they want(although that is probably a small part of it), I think it’s the way people shop that’s change the whole retail market as we know it. People don’t want to pay full price for anything and with the current condition of the economy, most people can’t afford to pay regular price even if they wanted to.
What do you think of JC Penney’s new pricing policy? Does it discourage you from shopping there? As a customer, what is the most important thing a store can do to encourage frequent shoppers? Let us know your thoughts!
Article source from MSN Money