JCPenny: No to the status quo

JCPenny is attempting to shift the retail industry by designing a new “Fair and Square” pricing structure. Their new structure hopes to bring consumers in year round as oppose to only seasonal, when great deals and sales are more prevalent.

This is a very bold move during a time when consumers are looking for ways to easy the strain on their monthly budgets. Thus far the new JCPenny pricing structure is receiving mixed reviews from consumers. Some are finding sales to be more lucrative than fair pricing while others appreciate knowing the price, is the price, is the price. A new structure is a bold and risky move however, if they succeed it will change the retail industry forever. JCPenny believes they have an answer for their consumers pricing woes and are hoping this new structure will have a direct effect on consumer pockets & the JCP bottom line.

Social Media was vital to the launch of this campaign with messages taking over the company’s facebook and twitter pages. I must say that I have enjoyed this relaunch initiative and I am eager to see their year-end reports (if it takes that long), to see if this rebel approach will payoff.

February 2 will go down in the history books either way for JCP — if their new model works I am sure other retailers will follow suit, and/or this could turn out to be an epic fail due to consumer habits and acceptance. Although if it does succeed I will be very excited to see how this innovative model will reshape the infamous “Black Friday.”

Design 2cents: Not a fan of the new logo. I think the previous one is timeless and could have survived the brand overhaul and still fit the new “Fair and Square” strategy.

Via FastCompany Co.Create