J.C. Penny has been making headlines recently with the roll out of their new pricing structure, and I take a look at what this could mean for both the store and consumers moving forward in the latest edition of Retail Rap.
I see this new strategy as less of a rebranding and more of a “reinvention.” It’s certainly about more than just changing the logo — although that’s happening also — to a newly stylized JCP (though simple is always better, I’m not 100% sure I like it). This plan has been characterized by some as an attempt to “rewrite the retail rulebook,” and, while I think that’s clearly a bit of an exaggeration, this is an ambitious step for a company that has traditionally been more, well … traditional. It might literally and figuratively pay off for them, but the brand is headed into uncharted territory here, and I have some questions and concerns about some aspects of the strategy.
Check out the full article from my recurring column, Retail Rap, at Chain Store Age.