JCPenney changing their pricing structure

[kork13]

If they want to do it right, JCP should price everything to account for the sales tax... Honestly, everyone everywhere should have to do that. Here in Japan, there's a 5% consumption tax on everything, but they simply include it in the cost of the product. if it says 1000yen, you're gonna pay 1000yen. The retail cost is 953-ish, tax is 47, you pay 1000. I've never understood why the US can never simply incorporate taxes into the cost of an item. Aggravating, IMO.... particularly having grown up without sales tax -- when I went somewhere with it, I was terribly confused at why they were charging me extra.

[cschin4]

If there everyday prices are not low enough, than i doubt it will shop there much because often "everyday prices" are not all that great, that is why lots of us wait for sales.

[cschin4]

“Customers will not pay literally a penny more than the true value of the product,” Johnson told the AP.

Does anyone even believe that statement? And how could that statement even be true? It is was, then the company wouldn't make any money at all and be out of business. i call BS on that line.

[tulog]

"J.C Penney (JCP) is just getting started with their new makeover in retail. Take a look at this weeks ad in the Sunday Paper. The circular looks just like a magazine.

New J.C Penney (JCP) Ad Circular in Sunday Paper - Stocks To Buy Forum

J.C Penney hired Ron Johnson as their CEO. Ron Johnson was responsible for creating the Apple Stores you see all over the world with some input from Steve Jobs. By 2013, you will start to see mini stores like Martha Stewart Living inside J.C Penney Dept stores. This is going to be the new trend of the future. Target (TGT) recently announced they they will test a few Apple stores inside of Target."

[kv968]

Originally Posted by kork13

There have been a number of studies looking at that .01 difference. Apparently it's actually quite significant. By using an odd cents value (.99, .95, .32, etc), people focus on the whole-dollar figure more than the extra little addition of a few cents. So $19.95 isn't about $20, it's $19 with a bit of meaningless change. Economy of scale takes over at that point, and all those "meaningless cents" become big profits.

Although its literally less than a penny, one place this works with great success is gas stations. Almost no one seems to notice that at the end of nearly ever gas price is the 9/10th. So instead of $1.40 its really $1.41.

Granted, its commonplace since every gas station does it and it is only a penny but as you said, those "meaninless cents" become profits.

[disneysteve]

There is a good article about this in TIME last week. Interesting fact was that last year, only 1% of sales at JCPenney were made at full retail price. There were 590 sales during the year. So basically nobody paid full price for anything. "Regular" price really meant nothing.

[marvholly]

Ok it is near 2 weeks now for this program.

Has anyone actually been to Penny and found any GOOD deals?

I would go but my only close by store is in a mall w/a major PITA parking lot design.

[dmontngrey]

I was there yesterday and they had marked all their ladies winter jackets down to $20. "Regular" price on the two I picked up was $200 each. I went there specifically looking for these $20 jackets after reading about them online. I'm very pleased with my purchase. Even my mother who works at JCP (hers is reopening in May - flooded by Hurricane Irene) thought I got a great deal on the jackets. In past years I got my winter jackets off the clearance racks when there were only a few left to choose from. Even with my mother's employee discount I paid more than $20. There were hundreds for me to choose from yesterday morning. At that price I'm sure they're quite picked over by now.

[Joan.of.the.Arch]

My usual daily winter attire includes a JCP mock turtleneck. I see that their catalog price is currently tagged "Best" and I think it is the same as I paid for them autumn 2010 on sale. Previously, I always watched the online ads for these shirts to go on sale, which they always did.

[marvholly]

Hit Penny’s on Tue to check out the new pricing structure. I am NOT impressed. Surprise!!! $24.99 is now $25. I peeled back several red labels to see.

I am even WAAAY less impressed by the quality of material and workmanship of the women’s clothing. Also it was nearly impossible to find clearance racks or items. They were mixed in w/everything else. Takes TOO long to find this stuff.

Prob will NOT shop there again. Suspect Penny is going the way of Sears – down the tubes.

[fe2o3ez]

Originally Posted by jpg7n16

I'll compare vs Amazon and eBay on my phone while I'm in store.

JPG - what app do you use for this? I downloaded ShopSavvy the other day and haven't really had a chance to try it out. Seems good, though.

And I agree. Those commercials were ridiculous - especially when you realized what they were promoting.

[disneysteve]

Originally Posted by fe2o3ez

JPG - what app do you use for this?

I use the Amazon app on my iPhone. It has saved me money on several occasions. If Amazon has the item cheaper, I pop it into my cart right then and there.