Everyone’s lives would be a lot more simple and successful if they just listened to me.
I site, for sake of example, this article at CNBC entitled JC Penney: We’re Sorry … Now Come Back and Shop. The basic gist of the article is that JC Penney’s attempt to reinvent themselves was an absolute bust. So much so that they lost 25% of their shoppers, due to advertisements and policies that left shoppers feeling alienated.
Now, refer back to a post that I made for this very blog entitle WTF JCP? where I wrote a review of 2012′s worst commercial of the year (in my humble opinion). Ironically, it was a commercial for a teaser campaign to introduce those policies that are now in the process of tanking the company. Sooo … while I was panning the commercial I went ahead and gave my two cents about the policies themselves. The following is a direct quote from that blog.
Ultimately, not only is it a flawed commercial concept but the policy that it represents may be flawed as well. Offering lower prices and fewer sales as a result may sound good but it’s going to require a big shift in the thinking of department store shoppers and I’m not sure it’s one their willing to make. Shoppers have a mentality for being “bargain hunters” who live for the “thrill of the hunt”. Their biggest thrill is when they score a great deal. With fewer opportunities to get their shopper’s high they may just go somewhere else, where they can get their fix.
All in all there’s no question that this is a desperate move by JCP. The only question is whether or not it’s a desperate move in the wrong direction.
See there. I told you so. If former Penney’s CEO Ron Johnson had been a follower of my blog he would have known how bunk his new policies were. He might still have his job and more importantly could have avoided demolishing a retail empire. The company was on shaky ground to start with. That’s why they tried a Hail Mary The thing is, when you make a desperation play you have to make one that you know is going allow you to gain ground not lose it.