JC Penney's 2010 fiscal year net sales were recently released, and show a 1.2% increase from 2009. The Vice President of investor relations, Kristin Hays, says the reason for the company's recent success is thanks to their delivering digital interactions. "We're focused on offering personalized impactful digital experiences and dramatically improving the shopping experience on JCP.com." They've added new features on their website that helps customers easily navigate through their pages, introduced social media and digital coupons and released a new mobile site. They admit that their reward program has grown to 26 million members.
JC Penney, though catalog sales totaled $454 million in 2010, they recently cancelled their catalog distribution. They expect sales to grow at a slower rate because of their decision. Is this something JC Penney is doing to be more environmentally conscious; perhaps to appeal to more customers? If people realize JC Penney is making more of an effort to go green...should the company expect a revenue larger than that of their 2010 catalog sales? What are some other reasons that would convince JC Penney to get rid of a $454 million dollar sales opportunity? Do you think this was a wise decision made by JC Penney administrators?
http://www.dmnews.com/jcpenneys-sales-increase-in-2010-as-retailer-shifts-focus-toward-e-commerce/article/197087/
JCPenny has made a risky decision in deciding to cancel their catalogue distribution. I don’t know whether it will hurt or help the company but I do think customers will be impressed with the company’s effort to be more environmentally friendly. If JCPenny’s regular customers are “green” and don’t need the catalogue to find what they are looking for from JCPenny then I think this will be a great marketing strategy.
ReplyDeleteIt makes sense that JCPenny’s net sales have increased because of their “digital interactions”; many consumers are shopping and buying online rather than looking through catalogues or going to the store. Online shopping is a convenient way to check out a product, specifically clothing, and see what it would look like on a person and the other colors it comes in. Going to the store and shopping can be hectic; depending on the shopping traffic, frustrating; trying to find the right size and color and inconvenient; depending on the amount of time one has.
Right off the bat, I would think that getting rid of the JCPenny’s catalogues would hurt the business but thinking further into the idea and taking into account online shopping, I don’t believe it will hurt the business significantly.
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