A handful of years back, JC Penney made a huge deal about stopping this practice in their stores, where everything is on “sale” all the time. Sales plummeted even though the actual product prices stayed the same. They immediately reversed course.
Penneys also stopped accepting coupons and it turned out that most of the older ladies who made up the lion’s share of the clientele loved coupons (who would have thought?). They also hired a retail exec from Apple (Ron Johnson) and he embarked on disasterous changes to stores and other things that regular customers hated. This is a great article that is titled “The J.C. penney Disaster Timeline” from 2012: https://www.businessinsider.com/the-jcpenney-disaster-timeline-how-ex-apple-guru-ron-johnson-is-destroying-the-company-2012-6
Classic Kohl’s strategy, not sure if they did it first, but its the first place I saw it used in early 2000s.
A handful of years back, JC Penney made a huge deal about stopping this practice in their stores, where everything is on “sale” all the time. Sales plummeted even though the actual product prices stayed the same. They immediately reversed course.
Hard to blame them. Human brains are weird.
Penneys also stopped accepting coupons and it turned out that most of the older ladies who made up the lion’s share of the clientele loved coupons (who would have thought?). They also hired a retail exec from Apple (Ron Johnson) and he embarked on disasterous changes to stores and other things that regular customers hated. This is a great article that is titled “The J.C. penney Disaster Timeline” from 2012: https://www.businessinsider.com/the-jcpenney-disaster-timeline-how-ex-apple-guru-ron-johnson-is-destroying-the-company-2012-6
As a marketing guy, I have this story in my back pocket to illustrate how hopelessly self-destructive we are.