PLANO, Texas – Now 14 months into JCPenney’s its $1 billion investment program, company CEO Marc Rosen sees signs that the strategy is paying off.
JCPenney’s sales sputtered during the second quarter (ended Aug. 3), but since the Back-to-School season the retailer has seen “a real improvement in our traffic trends and in our sales trajectory,” Rosen said during yesterday afternoon’s edition of Asking for a Trend business program on YouTube.
One key component, he said, has been the relaunch in April of the JCPenney Rewards program for consumers, making membership “a lot more rewarding,” he told host Josh Lipton. Thus far, the program has put $500 million “back into the pockets” of rewards members.
“We know we’re going into the holiday season with about twice as many consumers having rewards in their accounts as last year, and we know that’s going to drive sales as we go into the holidays,” he added.
Looking to goose those numbers further, JCPenney launched a new promotional campaigned tied Thursday Night Football last month. The season-long series touts “Really Big Deals” revealed by Penney’s celebrity partners on Prime Video on each game day.
The campaign has driven an increase in sign-ups to Penney’s rewards program as well as “a significant increase” in store traffic. “We think we’re going to have over 2 million new customers that come out of that program by the time of holiday,” said Rosen.
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