After 14 months of JCPenney’s $1 billion investment initiative, CEO Marc Rosen sees indications that the approach is working.
Rosen stated at yesterday afternoon’s Asking for a Trend business program on YouTube that JCPenney has witnessed “a real improvement in our traffic trends and in our sales trajectory” since the Back-to-School season, despite the retailer’s sales stuttering during the second quarter (which concluded on August 3).
CEO of JCPenney
Marc Rosen
He told host Josh Lipton that one important element has been the redesign of the JCPenney Rewards program for customers in April, which has made membership “a lot more rewarding.” Members of the rewards program have received $500 million “back into their pockets” thus far.
“We are aware that approximately twice as many customers have rewards in their accounts as we did the previous year, and we are confident that this will boost sales as the holidays approach,” he continued.
Last month, JCPenney launched a new promotional effort related to Thursday Night Football in an attempt to boost those figures even more. Every game day throughout the season, Penney’s celebrity partners unveil “Really Big Deals” on Prime Video.
Penney’s rewards program sign-ups have increased as a result of the promotion, and shop visitation has increased “significantly.” By the time of the holidays, Rosen predicted that more than two million additional clients will have joined the program.
