JCPenney’s Comeback: Shockingly Stylish—and They've Got the Receipts!
Despite closing down eight locations this year, JCPenney is poised for a comeback at just the right time.
As consumers are feeling the pinch when it comes to the downward turn of the economy, the iconic department store believes they can fill a need for stylish fashion with budget shoppers.
Catalyst Brands, the parent company of JCPenney, is targeting those consumers in "unexpected" ways, per Adweek. That means events like the NBA playoffs, Jimmy Kimmel Live!, and "unbranded billboards" around the country with its "Yes, JCPenney!" campaign.
“We have really loyal customers, and we want to embrace [them], but this campaign strategy is about opening up consideration for more people who aren’t thinking about JCPenney as a destination for them,” Catalyst Brands chief customer and marketing officer Marisa Thalberg told the media outlet.
They are hoping to attract customers from different "socioeconomic, ethnic, and cultural lines" in addition to its working-class consumer.
The unbranded signs, including an electronic billboard in Times Square, have a QR code to entice shoppers to discover where the outfits are from. It's not just women they are targeting because Shaquille O'Neal is getting in on the action with a "clean, comfortable, and made-to-move" menswear line, the XLG Collection.
With McKinsey's Consumer Wise team reporting in February that Americans planned to pull back on discretionary spending due to inflation and grocery store prices, JCPenney thinks their brand is ready to step in for shoppers' apparel and home goods needs not only now, but long into the future.
Related: JCPenney Hits the Sale Rack—More Store Closures Coming