JCPenney to kickoff new pricing tomorrowPublished 12:02am Tuesday, January 31, 2012
Beginning tomorrow, prices are going to become more “fair and square” at JCPenney.
Corporate officials announced last week that the company is saying goodbye to most of its sales, while slashing prices across the board in a marketing strategy that is similar to the one used by Wal-Mart.
“We’ve re-ticketed everything in the store,” said Andalusia JCPenney manager Dennis Cockrell. “Our new regular price will be at least 40 percent less than what we were charging.
“Before, 72 percent of our merchandise was sold at a 50 percent discount or more,” he said.
The main reason for the new marketing strategy “is the customer,” Cockrell said.
“Now customers can have lowered prices every day,” he said. “There’s no more waiting for the sale.”
Cockrell said the new everyday prices will be clearly labeled with red tickets “so everyone will know.”
Another change will be month-long values, Cockrell said.
“It will follow the calendar month,” he said. “Some everyday items will be reduced even more.”
Cockrell said the month-long value will be comparable to using store coupons and door busters the store previously used.
“Now customers won’t have the hassle of having to have coupons or making sure they are here during doorbuster hours,” he said. “They can shop when it’s convenient for them.”
The final change is what JCPenney calls its “best price.”
“These will have blue stickers,” Cockrell said. “We’ll have what’s called ‘Best Price Fridays’ on the first and third Fridays of each month. These will be our absolute best price. It will have a price point, or a sign that has the best price.”
Cockrell said the “best price” will be similar to clearance prices.
Additionally, JCPenney will send out a monthly mailer to show the month-long values.
Cockrell said all new merchandise will be placed on the floor once a month.
“We will set the store over two or three days,” he said. “Now customers can come in and see a drastic change.
“For example, customers who haven’t been in the store in about a week, will see a big change from a week ago,” he said.
Cockrell said he is also training associates so that they understand the new system, and can explain it to the customer.
“Our return policy is now that I can return any item, anytime, anywhere,” he said. “It’s an easy return policy. If you have your receipt, you’ll get your money back the way you paid for it. If you don’t have a receipt, we’ll refund the money on a gift card for the current selling price.
“The changes are really exciting,” Cockrell said. “It’s going to be neat, and I thought it was a bold move by the company, but it’s all about the customer. We invite everyone to our store Wednesday.”