JCP Charges a Lot More Customers Spend a Little More
February 24, 2012-- Home Textiles Today,
An item JCP bought at a cost of $10 in 2002 went out at retail at $28 - but actually sold on average at $15.80.
As of last year, that $10 item carried a $40 price tag, but ultimately sold at $15.95.
So while the price tag jumped 43%, the customer wound up paying only 1% more than she did in 2002.
The customer, said ceo Ron Johnson, "doesn't even start paying attention to pricing offers until they hit 40% off."