OnDemand WTP Pricing Research

‘Confusing’ pricing and too much inventory: JCPenney CEO reveals the company’s core problems after 4 months on the job (JCP) | SFGate

Soltau said she has spent time walking through stores, engaging with customers, and analyzing data from shopper surveys to identify the company’s strengths and weaknesses, and to develop a plan for reinvigorating sales.

Her top priorities going forward include clearing out unsold inventory, improving the stores’ product mix, and establishing a clear pricing strategy, among other initiatives, she said.

Read more: JCPenney plans to close 27 stores as sales sink

“Reducing and enhancing our inventory and clearing unproductive inventory … is great for our cash flow and great for gross margin, but it’s also critically important to the customers’ experience,” she said.

“The other piece is how we are promoting,” she added. “I think that is one of the key initiatives that we’ll be working on here in the coming months because we are not being as strategic in how we speak to the customer and engage with the customer through our pricing and promotion.”

She called the company’s pricing strategy “confusing” and said “you might not know exactly when you can get the best value at JCPenney, which, in fact, every day you should be able to get a great value at JCPenney.”

Read complete article here:

‘Confusing’ pricing and too much inventory: JCPenney CEO reveals the company’s core problems after 4 months on the job (JCP) – SFGate.