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(Huffington Post)   There's a clearance at Penney's   (huffingtonpost.com) divider line 26
    More: Obvious, J.C. Penney, Standard and Poor, Donatella Versace, junk bonds  
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4761 clicks; posted to Business » on 27 Jul 2012 at 11:59 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



26 Comments   (+0 »)
   
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2012-07-27 08:21:41 AM
We have clearance, Clarence?
 
2012-07-27 08:26:55 AM

Sybarite: We have clearance, Clarence?


Roger, Roger.
 
2012-07-27 08:35:27 AM
And Leon is getting larger!

thethoughtexperiment.files.wordpress.com
 
2012-07-27 08:53:15 AM
The problem that their CEO has now is that what he's doing is such a radical change from JCPenney's old image. Target was always kind of the "We're cooler than Walmart" place, and the Apple Stores were a completely new sort of retail environment. JCPenney is where old people go to get cheap-ass slacks.
 
2012-07-27 10:14:01 AM

jake_lex: The problem that their CEO has now is that what he's doing is such a radical change from JCPenney's old image. Target was always kind of the "We're cooler than Walmart" place, and the Apple Stores were a completely new sort of retail environment. JCPenney is where old people go to get cheap-ass slacks.


This!

When I was a kid I wore a lot of JCPenny clothes. That and Sears.

Now they have all the trendy clothing stores that play loud music kids love and market directly to teens. If I took my 14 yo daughter to an anchor store for back to school shopping she would start developing daddy issues. Seriously she would hate me.
 
2012-07-27 12:21:31 PM
I wish they would have stuck it out a bit longer, but I guess old consumer trends die hard.

If you couldn't mentally equate the words "best price" and a single digit dollar amount on a tag to be the same as clearance, maybe you shouldn't be in charge of how money gets spent.
 
2012-07-27 12:36:36 PM
Looks like I picked the wrong week to stop using the word "sale".
 
2012-07-27 01:12:24 PM
It's kind of sad, because JC Penny actually sells better quality basic clothes (Levi's jeans, etc.) at a better price than most places. But they are in utter upheaval right now. I have a family member whose worked at a Penny's store for almost 15 years and they've cut just about everyone's hours back to one or two days a week, max.
 
2012-07-27 01:14:35 PM

robbiex0r: but I guess old consumer trends die hard.


That's sort of the problem: too many people are conditioned to look for discounted prices during a sale. If they don't immediately see that they saved X dollars, they don't get a thrill. It is that line of reasoning that got us grocery store club cards where they show "your savings" on every receipt. Farking smoke and mirrors game.

I personally liked being able to drop into Penny's at any time knowing that I'd get a good price.
 
2012-07-27 01:27:49 PM
I don't get what's so hard to understand. Consumers want everything they want to buy to be on sale whenever they want to buy it. It doesn't matter if all you do is say it's on sale without changing the price. If it's not "on sale," we won't buy it.
And at the same time, we want to biatch and degrade your selling practice of putting everything on sale all the time and saying things are on sale without changing the price.
If you can't figure it out, maybe you shouldn't be in business anymore.
 
2012-07-27 01:34:57 PM
A clearance! What is it?
 
2012-07-27 01:38:02 PM

FrancoFile: A clearance! What is it?


It is permission from the airport tower for an aircraft to depart, but that's not important right now.
 
2012-07-27 01:52:21 PM
Can we get some pictures?
 
2012-07-27 01:57:02 PM
The 'always low price' model worked great for Walmart. On toilet paper, batteries, and eventually bread and eggs.

Clothing? 90% of the USA could get away without buying a single article of clothing over the next 12 months. Certainly if you consider the used market. So, it's nice to get the best price when you go in. But, since you don't *need* clothing, you don't go in. The way to get people in is to make them think they're bargain-hunting.
 
2012-07-27 02:12:23 PM

Land Ark: I don't get what's so hard to understand. Consumers want everything they want to buy to be on sale whenever they want to buy it. It doesn't matter if all you do is say it's on sale without changing the price. If it's not "on sale," we won't buy it.
And at the same time, we want to biatch and degrade your selling practice of putting everything on sale all the time and saying things are on sale without changing the price.
If you can't figure it out, maybe you shouldn't be in business anymore.


Penney's didn't just take stuff off sale.... They calculated the percentage off retail at which the consumer was motivated to buy and then priced their merchandise at that point. Now, instead of having a $30 sweater that goes down to $25 for Father's Day, and $15 for End of Summer, and finally to the 75% off rack, they just mark the sweater at $9 and it's $9 ALL THE TIME. Until it absolutely has to go, then it gets marked at "Best Price" (or at least it used to..until today).

They didn't just change the words for things, they revamped their entire pricing model, but consumers were too dense to get it.
 
2012-07-27 02:28:43 PM

Land Ark: I don't get what's so hard to understand. Consumers want everything they want to buy to be on sale whenever they want to buy it. It doesn't matter if all you do is say it's on sale without changing the price. If it's not "on sale," we won't buy it.
And at the same time, we want to biatch and degrade your selling practice of putting everything on sale all the time and saying things are on sale without changing the price.
If you can't figure it out, maybe you shouldn't be in business anymore.


Not only that, but they need an excuse to "buy today". A limited time sale gets people in the door, and forces them to "buy today" for fear they'll miss out on the deal if they wait. If the price is always on sale, then there's no pressure to buy.
 
2012-07-27 02:29:38 PM

Ennuipoet: Sybarite: We have clearance, Clarence?

Roger, Roger.


What's our vector, Victor?
 
2012-07-27 03:57:37 PM

Jodeo: Can we get some pictures?


i149.photobucket.com
 
2012-07-27 04:29:39 PM

Polartank13: Jodeo: Can we get some pictures?

[i149.photobucket.com image 600x463]


Can you post the original of that?
 
2012-07-27 04:50:40 PM

Tyrone Slothrop: Polartank13: Jodeo: Can we get some pictures?

[i149.photobucket.com image 600x463]

Can you post the original of that?


And here's the pitch . . .
 
2012-07-27 06:49:19 PM
He's all over the place...what an asshole!

(Mike from Breaking Bad!)
 
2012-07-28 12:11:00 AM

Tyrone Slothrop: Polartank13: Jodeo: Can we get some pictures?

[i149.photobucket.com image 600x463]

Can you post the original of that?


Sure, here ya go..

i149.photobucket.com

/albeit a lil but late...
 
2012-07-28 01:53:30 AM
The first 3 years or so of my marriage when we were broke, my wife purchased damn near everything she owned on clearance at JCPennys.

For that I am happy to see it come back.

/ try and get her near it now... I dare you. Please?
 
2012-07-28 06:29:24 AM

robbiex0r: Penney's didn't just take stuff off sale.... They calculated the percentage off retail at which the consumer was motivated to buy and then priced their merchandise at that point. Now, instead of having a $30 sweater that goes down to $25 for Father's Day, and $15 for End of Summer, and finally to the 75% off rack, they just mark the sweater at $9 and it's $9 ALL THE TIME. Until it absolutely has to go, then it gets marked at "Best Price" (or at least it used to..until today).

They didn't just change the words for things, they revamped their entire pricing model, but consumers were too dense to get it.



That's what we were told.

But it seemed like they just kept the price high all the time (from comparison shopping).
 
2012-07-28 05:59:34 PM
Can you post the original of that?


think he meant the original of Emma
 
2012-07-29 12:20:20 PM

E_Henry_Thripshaws_Disease: think he meant the original of Emma


i49.tinypic.com
 
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