Almost every successful hybrid retailer is also implementing automatic markdowns or using product auctions to usher inventory quickly out of its warehouses. J.C. Penney Company’s strategy is typical. To sell slow-moving store or catalog inventory faster, J.C. Penney uses jcpenney.com as an i...
The JCPenney switch to consistently lower prices did not yield the revenue bump its management had anticipated. Indeed, the company fired the CEO who initiated this change within two years, and returned to using promoted sales. The approach of using promoted sales works better for JCPenney because...