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Deloitte also noted that about three out of every 10 parents strongly agreed that they would not recommend a career path in manufacturing to their children due to concerns over security, stability, pay, and perception. Apparently, some folks still hold a Laverne and Shirley-esque view of the factory floor, where popping a cap on a beer bottle defines the job, and the breadth of the opportunity.
J.C. Penney, the troubled retailer, began to harpoon itself when it introduced “fair and square” pricing seven years ago. The chain eliminated all things sacred to the department store shopper—namely, discounts, sales, and promotions. Plans backfired when psychologically conditioned customers weren’t sold on the notion that a $50 coat presented greater value than a $100 coat, marked down by 50 percent. As if the imposing shadow of ecommerce retailers wasn’t enough, J.C. Penney’s pricing foibles saw sales plummet by nearly 25 percent in 2012, and its downward spiral—greased by bankruptcy rumors—continues in 2019.
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