29 Sep JCPenney is hoping that millennial men will save their brand
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The Penney chronicles
JCPenney has been through quite a few ups and downs in the last few years. Their decision to remove store sales and just slash prices across the board was a risky but interesting choice.
In this time, they have been looking for ways to cater to their audience. And, as many brands know, a major audience to appeal to is millennials, as they are a major driving force in terms of spending.
Millennial men
The department store unveiled plans to create a fall line that includes apparel designed for men between the ages of 25 to 35. According to the company’s chief merchant, Jim Tighe, the men within this age range are “driving big growth” at the store.
Last month, the store released analytics of their core shoppers.
The “average” JC Penney shopper is a 33 year-old female who identifies with more than one culture.
The store has coined their emerging customer base the “modern American mom.”
JCP analytics
These customers tend to spend more time in the store and visit more frequently than any other customer, according to the research. Now, this attempt at appealing to millennial men is the company’s way of broadening their customer reach.
After falling short in the first two quarters’ sales, the company hopes that their new approach will help sales grow a projected three percent for the 2017 to 2019 period. According to Krystina Gustafson at CNBC, Macy’s and dollar stores have also been grabbing the attention of millennial shoppers.
Past attempts
It is unclear how the company will approach their appeal to millennials, or if they will heighten their social media presence as a way to grab attention. Last year, the company attempted to go the retro route by reviving their old catalog in a last ditch effort to strengthen home goods sales.
Their different approaches, in conjunction with their back and forth with CEOs, have not done much to enhance the brand. However, they are still hanging on and have an active customer base.
And, like with anything else, time will tell if this millennial men line will be a saving grace.
#JCPenney
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