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JCPenney is offering thousands of discounts for a July 4th price rollback, reports James Covert at the NY Post. It surprised shoppers with emails touting the discounts.
This sort of move is an obvious traffic grab, and there’s no shame whatsoever in that. It’s a near universal retail tactic to get shoppers into stores during a holiday season.
But what about JCPenney CEO Ron Johnson’s “fair and square” pricing strategy?
Its discounting is supposed to be limited to a “Best Price Friday” every other week, along with month-long sales. The goal was to wean consumers off of coupons, clearances and big sales events. And yet, this July 4th sale immediately follows a Friday sale.
“[JCPenney] announced earlier last month that it would backtrack on the [“fair and square] plan a bit, having concluded (correctly) that consumers like the word “sale.” Then its top marketer abruptly resigned,” wrote marketing consultant Jonathan Salem Baskin in a column at AdAge yesterday.
“There’s speculation that CEO Ron Johnson will have to cave and return to incessant couponing and sale events.”
Is this a sign of things to come, or just a minor relapse?
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