Emphasizing the focus on Mobile and Online consumer J C Penney launched “Penney Days” to drive shareholder value by growing revenue with a top line growth strategy. The spring marketing campaign that launched earlier this month is backed by a brand strategy that focuses on shifting the consumer perception for quality brands and private labels available at the stores, emphasizing the purchasing power of a penny by offering select merchandise for one cent with the other pair bought at the regular price. The campaign idea is based on making every shopping trip in stores and at jcp.com worth the customer’s time, money and effort. Penney will continue to roll out other items for a penny throughout the year.
The campaign has a bigger message on social media.
Get Your Penny’s Worth
“We want to be the shopping mecca for the modern American mom, which means we need to dimensionalize the idea of worth. We know our customers live very busy lives and we want every trip and interaction at JCPenney to be worth her time, her hard earned money and her effort,” said Mary Beth West, chief customer and marketing officer for JCPenney. “The launch of this new brand promise underscores our strategic focus on building private brands and revenue per customer to create sustainable loyalty. If JCPenney can help her discover the things she loves more easily, innovatively and consistently than anyone else, we know she`ll come back for more.”
JCPenney rolled out its first week long Penney Days event starting Feb. 28 in stores and at jcp.com.
Research showed that many consumers underestimated the selection of quality brands and merchandise available at JCPenney , as well as the style and value offered by private brands. These perception shifters will be highlighted in national magazine ads showcasing the Company’s fashion and home collections this spring.
JCPenney’s adjusted EPS in Q4, 20115 grew to USD0.39 from USD0.04 in the comparable quarter of the previous year. The improvement in JCPenney’s earnings was driven by higher sales and improved gross margins. JCPenney continues to enhance its omnichannel capabilities. In Q4 2015, the company began to test the “Order Online, Pick Up In Store” facility in over 10 percent of the stores. The company plans to roll out the facility throughout the chain prior to the back-to-school selling season this year. The company is also focused on enhancing its mobile channel, as reported by Market Realist.
The key initiatives planned for the year are:
- The company will be focusing on the growth of Sephora stores-within-stores. The company plans to open approximately 60 new Sephora locations in fiscal 2016.
- The company plans to promote “Get Your Penney’s Worth,” a unique promotional campaign that makes select items from the company’s assortment of private brands available for just a penny.
- The company plans to upgrade the center core shopping area of over one-third of the company’s stores. This center core area is adjacent to Sephora stores-in-stores and includes fashion jewelry, handbags, sunglasses, and fashion accessories.
Among the Bricks and Mortar Retail stores Target has taken the lead in Digital sales with a Millennial focus. According to MarketWatch, Target said digital sales during the fourth quarter jumped 34 percent, breaking company records and exceeding global digital sales growth at rival Wal-Mart Stores Inc. Globally, Walmart reported that e-commerce sales increased about 8 percent in the fourth quarter on a constant-currency basis.