JCPenney launches new sales strategy

GREENDALE -- JCPenney launched a new "fair and square" campaign Wednesday to try and win back shoppers. The campaign involves a revamped image and every day low pricing.

Instead of weekly markdowns and confusing sales dates, the retail chain is keeping prices low every day by permanently marking down all merchandise by at least 40 percent.

The stores also have a new look, with new bags and signs, and a new logo matching the “fair and square” approach. "We have new pricing in the store - fair and square pricing, which has three tiers of pricing," Matt Biese, a JCPenney store manager said Wednesday.

Each month, there will be a new color theme.  For the month of February, the color is pink.  Merchandise marked with a pink tag means that'll be the price for that item all month, therefore eliminating weekly circulars and coupons. "We used to have sales up and down - you never knew when the sale was going to be, so this makes it easier. You can come in anytime, and not have to worry about having that coupon, or going through the paper," Biese said.

Shopper June Mazos agrees the sales will be more convenient. “I see things that I would like to get, but right now, I just don’t have the time, so I can always come back.  It'll be the whole month, so I don't have to worry about getting here the next day or so,” Mazos said.

Returns have also changed.  Penney’s "happy returns policy" takes back any item, anytime and anywhere, with or without a receipt.

The new marketing strategy is in an effort to help bounce back from a dismal sales year.  The company's goal is to make the 110-year-old company become “America’s favorite store.” “Last year was a little stagnant, so we're trying to remarket the stores and bring it all here for you,” Biese said.

JCPenney's new CEO, who helped engineer the new pricing strategy, is a former Apple retail executive.