The news of revamping J.C. Penney, one of the largest in-house women’s apparel store, has gained a lot of attention in the fashion industry. This time they are putting more focus on denim and different casual looks.
On the last Thursday, the news of the relaunch was announced. Critiques are saying that it is one of the marketing strategies of Penney so that they can pull out of a sales decline and also can remain more in news and attention of the media so that their competitor brand Amazon does not get to use this opportunity against them.
Since the last Thursday, collections of all new products are available in both physical stores and online. The customers will get all types of sizes according to their preferences. You can see the difference in the stores and collections. They have tried to promote the tropical vibe this time.
Michelle Wlazlo, the executive vice president and chief merchant of J.C.Penney, said that they have been conducting market research to know more about their target market and their preference. He said that CEO Jill Soltau had directed them to launch products according to the need and changing fashion sense among youths.
She was Senior Vice President at Target and also served Gap for 2 decades. Penney’s overall business is hugely dependent on women’s apparel. Only with this sector, they have earned 22% of the total sales in the year of 2018 — that added revenue of $11.66 billion.
Recently the revenue of Penney was shrinking. In the fiscal year of 2018, net sales dropped down to 7.1% in fiscal 2018.Also, store sales dropped by 3.1%.
So, the managerial body has decided to stay focused and serve the customers in a way so that they can capture and stayin the mind of their customers.
