jcpenney’s new “Fair and Square Pricing” campaign could be poised to be a big hit with Hispanic consumers according to our recently completed “Mercury Mambo Hispanic Shopper & Retailer Study.”
The campaign, which does away with sales in lieu of a constant supply of discounted prices, is just one element of jcpenney’s transformation strategy unrolling across stores in 2012. It also includes a logo refresh, new pricing strategy, monthly “theme,” and innovative new store layout.
“Trying to figure out what’s on sale when and then waiting for the next sale to buy particular items can be frustrating to consumers so J.C. Penney Co. — in its first major overhaul of its retail arm since former Apple exec Ron Johnson took over as CEO in November — is attempting to make things much easier,” says Brandchannel.
The “Mercury Mambo Hispanic Shopper & Retailer Study” findings agree. Mercury Mambo asked 249 Hispanic consumers if they had to choose between two stores—one featuring discounts and one featuring events like in-store demonstrations— which they would choose. Seventy one per cent of those surveyed listed “more discounts” as the primary driver of store choice.
But the flailing department store, which is on its third makeover in three years, also has the 18% of shoppers who said they prefer events covered too. An element of the new campaign includes a concept called Town Square which jcpenney describes in a press release as, “an exciting new place that replaces the traditional retail center core of a department store with a series of services, which customers will enjoy before they buy.”
Combine this with the official consumer launch of the campaign at Super Bowl XLVI—an event that historically sets records for Latino viewership—and you’ve got a combination for a potential turnaround for the discount department store institution.
About Mercury Mambo’s “Hispanic Shopper & Retailer Study”
Utilizing Mercury Mambo’s proprietary network of bilingual brand ambassadors and local market experts, the 2011 “Hispanic Shopper & Retailer Study” is a product of Mercury Mambo’s proprietary HispaniPoll. HispaniPoll allows marketers to gather field intelligence in a more quick and cost-effective manner than traditional research studies. HispaniPoll teams are trained to conduct everything from store audits to consumer and trade surveys, to creative spot checks.
For more information regarding HispaniPoll and the “Hispanic Shopper & Retailer Study” contact Agency Partner, Liz Arreaga @ firstname.lastname@example.org.