There are still three ways J.C. Penney can reinvent itself without breaking the bank.
Instagram. By comparison, Macy's has 1.9 million followers, Target has 4.2 million followers, and Inditex's Zara reaches a whopping 37.8 million followers.
Soltau is aware of the problem. During last quarter's conference call, she highlighted a few social media efforts, including the company's #MemoryMade hashtags for holiday photos and its new Shutterfly Picture Pop Selfie Studio, an experimental social media-oriented upgrade of its portrait studio. Those baby steps are encouraging, but they aren't aggressive enough to close the gap against its larger rivals. Strengthening J.C. Penney's social media presence should be a top priority – not an afterthought – for Soltau's team.J.C. Penney opened an experimental"brand defining" store, which resembles a mix between Target and H&M, near Dallas in late 2019. The store looks a lot prettier than J.C.
Off-price retailers like Macy's Backstage and The TJX Companies fared better than traditional retailers because they buy products at liquidation prices and sell them at lower prices than Amazon, and rotate their products quickly to bring back shoppers for"treasure hunts".
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