JCPenney has launched a self-funded reinvestment plan and customer value proposition intended to fuel long-term growth and increase customer loyalty and shopping frequency.
The plan as announced calls for the company to make more than $1 billion in reinvestments by JCPenney’s 2025 fiscal year to further improve customer experience and operational efficiencies. The reinvestment builds on significant progress in the 2022 fiscal year, the company stated, including the launch of JCPenney Beauty, product collaborations, completed store refreshes and improved digital shopping.
The company also is introducing a reinvigorated customer strategy, dubbed “Make It Count,” to remind customers the retailer stands with them, matching their efforts to make every dollar count.
According to JCPenney, the reinvestment plans call for:
- Enhanced Digital Capabilities. JCPenney is highlighting the value it offers across product categories through an easier shopping experience and increased customer personalization. It will continue upgrading its website and mobile app with improved search functionality and product details, customer product reviews and more customized product and styling recommendations.
- In-Store Physical and Technology Upgrades. To make the in-store experience more inviting and productive, JCPenney is in the process of updating its 650 stores, providing an enhanced store look and feel, improved technology and associate tools, and physical upgrades. Additions such as a new point-of-sale system will better integrate with inventory, and upgrades to in-store Wi-Fi networks will deliver faster, more reliable connections for customers and associates. The company already has upgraded more than 100 stores.
- Merchandising and Supply Chain Optimization. JCPenney is upgrading merchandising tools and supply chain operations to help customers shop the right products at the right place and at the right price. New inventory management systems will enable greater accuracy in decision-making and efficiency in execution so JCPenney can cater to customers’ unique needs, fulfill orders faster and reduce purchase delivery times. Enhanced tools will scale JCPenney’s ability to provide customized and localized product assortments consistent with local community preferences and trends.
“JCPenney is on strong financial footing and is steadily increasing relevance and frequency with our core customers,” said Marc Rosen, JCPenney CEO. “We are poised for continued growth and know that the surest path to success is by focusing on our customers. That’s why we are wholly committed to serving hardworking families across America with the attention, value, quality, choice and experience they deserve. Our customers are passionate, resilient and tireless in their efforts to make every moment count. We’re here to help them do that every day.”
