A couple of weeks ago I had the opportunity to hear Ron Johnson–JC Penney’s new CEO–present an outline of his transformational strategy. Short version: take a heaping tablespoon of Apple, add a dash of Target, fire the deadwood, stir, and then… a miracle happens. To be fair, there were plenty of bold, inspiring new ideas [...]
Posts Tagged ‘JC Penney’
In gut we trust
Posted in Customer Insight, Customer-centric, Personalization, Retail, tagged JC Penney, Ron Johnson on May 16, 2012 | 13 Comments »
JC Penney swings for the fences (Part 3): When the invitation is better than the party.
Posted in Being Remarkable, Customer Growth Strategy, Customer Insight, Customer-centric, Growth, Winning on Experience, tagged Apple, JC Penney, Target on March 28, 2012 | 8 Comments »
I like Penney’s new marketing campaign. The TV ads featuring Ellen DeGeneres are captivating and funny–and seemingly everywhere. The print campaign does a solid job of re-branding JCP as fresh and contemporary, the monthly theme is carried through each piece beautifully and the featured items look great and seem well-priced. My only criticism is that [...]
JC Penney swings for the fences (Part 2): The vision thing
Posted in Being Remarkable, Customer Growth Strategy, Customer Insight, tagged JC Penney on March 23, 2012 | 4 Comments »
In Part 1, I applauded JCP’s new leadership for committing themselves to a bold, multi-year re-invention strategy. At the same time I cautioned that the first plank in their transformation–their new “fair and square” pricing program–may be far more challenging to implement than they imagine–and frankly need–to sustain momentum for the pieces to come. Now [...]
JC Penney swings for the fences (Part 1)
Posted in Growth, Innovation, Leadership, Retail, tagged JC Penney, Macy's, Nordstrom, Ron Johnson, Sears on March 21, 2012 | 13 Comments »
New CEO Ron Johnson’s first big move to re-invent JC Penney was to eliminate their intensely promotional high/low pricing strategy. The key elements are: Moving most products to “fair and square” every day pricing Establishing month-long themed value pricing for certain key items Simplifying and creating regular break dates for permanent markdowns. To break-through the [...]
The obvious obviousness of omni-channel
Posted in Bricks and Mobile, Customer Growth Strategy, Customer Insight, Customer-centric, Multi-channel, Omni-channel, tagged JC Penney, Neiman Marcus, Sears on February 10, 2012 | Leave a Comment »
Sitting in sessions at last month’s NRF annual conference I might have thought a drinking game had launched where you would down a shot every time someone said “omni-channel” or uttered the phrase “seamless integration.” Speaker after speaker–as well as subsequent press coverage–rattled off buzz-phrases, statistics and factoids regarding multi-channel consumer behavior as if this [...]
Why wasn’t Jeff Bezos on your Board?
Posted in Being Remarkable, Growth, Innovation, Retail, tagged JC Penney, Sears on January 5, 2012 | 2 Comments »
Ultimately a company’s success is determined by a sound strategy that is well executed by strong leadership and a passionate, highly capable team. But don’t underestimate the role of the Board of Directors in distinguishing winners and losers. If your business is established but struggling, you need a remarkable Board to help guide craft a [...]
The opposite is what’s risky
Posted in Being Remarkable, Innovation, Leadership, tagged JC Penney, Sears on December 13, 2011 | 1 Comment »
In a recent interview with the Harvard Business Review new JC Penney CEO Ron Johnson was asked whether it wasn’t a pretty risky proposition to completely re-invent a department store? His answer was clear, concise and spot on: “The opposite is what’s risky.” Years ago, when I was at Sears, we had many debates about [...]
Silos belong on farms: One brand, multiple channels
Posted in Customer Growth Strategy, Customer-centric, Retail, tagged JC Penney, Neiman Marcus, Sears on October 26, 2010 | Leave a Comment »
For years retailers have been saying that multi-channel customers are their best customers, citing that customers who shop across physical stores, e-commerce and catalog channels spend 3 or 4 times that of single-channel customers. At the recent Shop.org Summit, numerous speakers made this observation as if it were news. Please. We talked about this publicly [...]
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