JC Penney’s “low prices, no more coupons” stance has been discussed extensively on this blog over the past few months. When the store’s new CEO stepped in, compared coupon shoppers to drug users and pledged to do away with coupons, JC Penney’s sales fell flat — to the tune of a $55 million loss.
Yesterday, several of my readers wrote to say that they had received a $10-off-$10 coupon via email from JCP yesterday. Today, CouponsInTheNews.com writes:
What’s this, a JCPenney coupon? Isn’t this the company whose CEO called coupons a “drug” and didn’t understand why customers liked them so much?
A single coupon isn’t enough to signify a total about face, but it’s a start. JCPenney, which swore off coupons and discounts earlier this year, is sending “$10 off your purchase of $10 or more” coupons to those who have signed up for JCPenney emails…. Each email contains a link to print a unique, single-use coupon that’s valid from today through November 4th.
“We can’t wait for you to see the new and improved jcp,” the email reads. JCPenney recently revamped its stores, but CEO Ron Johnson has refused to revamp his new everyday pricing strategy… But a build-it-and-they-will-come approach may not be enough without an incentive. Say, a coupon. “There will be few reasons for customers to return unless they are given some unusual incentives,” Forbes contributor Walter Loeb wrote last week, in a column ominously titled “J.C. Penney Slides Further Into Oblivion”. So does a JCPenney coupon count as an “unusual incentive”? It’s certainly unusual these days.
Many customers are already excited: “Thanks CEO Ron Johnson! Can’t wait to go to JCPenney this weekend and use my coupon!” says one commenter on JCPenney’s Facebook page. “I feel like Charlie with my golden ticket, and mama is getting a new outfit,” writes another. But it’s comments like this one that are perhaps most notable: “I haven’t shopped at JCP since you got rid of the coupons. I plan on going in this weekend.”
If coupons are a “drug”, then many shoppers have just gotten the fix they’ve been looking for.
Read the entire post at CouponsInTheNews.com
Coupon Maven says
Consumerist.com covered this story today too, and JCP has already clarified to the Wall Street Journal that this $10-off-$10 printable coupon is not a coupon, guys:
Um… okay :)
lmbudzik says
Of course, JCP doesn’t send out coupons. Their former CEO declared they wouldn’t put items on sale or offer coupons because it was just a game and they were going to be offering every day low prices. Of course, he’s gone now. Maybe the new CEO doesn’t feel he can start sending out coupons now, so he’s offering a “gift” instead. I can usually find something there for around the $10 price point…socks, holiday decorations, etc. I try not to let $10 in free money go to waste.
pndm96 says
Does all of the “gifts” have a unique # at the bottom? Or can I make copies and give them to family members?
dkmulder says
There were clearance signs everywhere. Big red ones and racks and racks of stuff. Before, it was a little sign on a few items saying “best price” or something like that. I went to get some St.John’s Bay jeans – they fit me best and I have bought them for several years. They are gone. They discontinued all that brand. In it’s place I was told to try JCP brand which cost $10-$15 more than the St. John’s Bay. I guess I’ll have to start over looking for jeans that fit. Another reason not to like the new JCP!