JC Penney is bringing back their fake prices from the pre-Ron Johnson era. From Brad Tuttle in Time:
In early 2012, JC Penney promised the end of “fake prices”—ones that were inflated just so that shoppers could be tricked into thinking the inevitable discounts represented amazing deals.
In the end, Johnson lost his job and JC Penney has reverted to its old self, including fake prices.
JC Penney CEO Ron Johnson lost his job recently because customers seemed to hate the no-coupons, no-discounting “fair and square” pricing that was a core part of the retailer’s dramatic 2012 makeover.
I worked in JC Penney’s advertising department years ago and that was exactly the strategy. Fake higher prices that made the sales look good.
Goodbye JC Penney.