I LOVE IT! If you study the map, you can find places in each state where this could make sense. If there is a store nearby -- pass -- but there are lots of locales where this could be a boon. I can think of 3 locations right off where this would afford affluent people easy access to all that Nordstrom has to offer. I think it is great!
I love JCP and I love them for clothing for work -- well made, nice quality and great prices. They need to PLEASE PLEASE PLEASE pay attention to and invest in the STORES and their sales floors! The stores I have been in recently were a mess and the store closest to me has the worst lighting of any retail store I have been in!
I do not like "Shopping is Back." I prefer: "Shopping is Back At JCPenney." For everyone, shopping IS Back -- (At Ross and Marshalls and Target). I DO wish them well and I want them to find success!
Aldi does things their own way and in an interesting manner. They have had success with little inflation. Inflation and the squeezing of many people's and families' budgets will only help drive customers to their stores--however, I do not feel Aldi necessarily needs this for their success! If we still had no inflation, I would expect them to do well in their new markets.
Aldi will likely benefit from the current economic conditions. Also, the customers that Aldi picks up will likely become loyal and dependable for them, as Aldi offers those customers dependable and good deals!
Ms. Bender hit the nail on the head! CUSTOMER EXPERIENCE! Pay attention, or at least look at your sales floors. Fix that! If there is going to be a turnaround, it is going to be slow and will require continued sustained effort. It will NOT be easy. The team is talented and will need to be! There is no millennial that knows about or considers Penney for potential needs. If they are going to survive, they must become relevant. However, starting with attention to the store space itself might be a good first year effort.
I do not have faith. I do believe that a smaller segment -- 25% to maybe 30% of consumers will shop early, but I believe that there will be a LOT of procrastinators who may hear the warnings and think "Oh I am sure they will have lots of stuff!" and put it off -- and perhaps be disappointed?
Traditional department stores now are in such a precarious position. Think about how different the industry is today versus, say, 1968. Today you have Target -- who are expert merchandisers and merchants. Back then, Kohl's didn't exist in its current form. Also you have the rise of TJMaxx/Marshalls, Ross, and Burlington in the 1990s and they rule right now. One can say they "need" the department store as a supplier, but there is nothing to stop them from going to suppliers directly. It is a different world, one that has moved on from the traditional department store -- thus the loss of them and the continuing struggles of the remaining survivors.
Location Location Location! The work for them is to mine the correct locations for new or moved stores. The "mall" is dead; unless it is an "A" level mall, forget it. What they need to do is focus on the correct location. We lost a small Party City in the same strip center as a Target -- BOOM! Look for Target or Kohl's, or take part of Kohl's space that they are so anxious to get out of and place a VS there!
The location is everything in my mind. They have the ability to have great merchandise -- that is not a problem -- but the location is the thing and with all the closures over the last 2 years, there may never be a better opportunity.
I remember the Bloomingdales experience -- It was amazing! It was when Bloomingdales was the jewel of Federated and lead by Mr. Traub.
I also agree that this is reminiscent of or suggestive of the Nordstrom local stores.
Good for Bloomindale's And Macy's! They need to execute this correctly. I am sure they have learned things from the "market" foray. Time will tell.
I find this interesting and a little difficult.
As far as I see it, this is a home line from a supplier with a nice and well known name. It gives Walmart the chance to gain a little panache as it puts this merch on its shelves.
For GAP this is tricky. They have to be just right with price, which I am sure Walmart has taken care of -- Walmart IS price -- but this is GAP, so anyone who buys this is going to expect a certain amount of "nicety" in the merch. GAP needs to be attentive to "fit and fashion," the offerings have to be a little fine and well made. If not, this will be a short-term occupier of shelving at Walmart, and Walmart will simply move on to the next thing. GAP could end up with embarrassment.
Also, when they announced this last year, I thought GAP was going to introduce the Home line to their stores to drive interest.
Anyway, I don't think this is going to work. I wish them well! Perhaps I will be HUGELY wrong, but I am afraid of the interest in, and attention to, execution. I Hope that they prove me incorrect!
Really 2020 is a lost year if you are going to compare and not do zero base planning, which may not be the best thing either. You have to look back to 2019, and then 2021 may also not be a normal year either. When all is said and done, 2022 may have to be compared back to 2019 as well! This IS an unprecedented situation in recent history!