JCPenney Targets American Working Families as People Become More Cost-Conscious

As a way to revive its business, JCPenney is setting its focus on working families.

After reportedly filing for bankruptcy in May 2020, JCPenney has been revamping its merchandise while making sure it is the cheapest alternative to other department stores, the company’s CEO, Marc Rosen, said. He claimed, shoppers “won’t have to cut back as much on discretionary spending, a trend that has accelerated over the past few years as inflation weighs on households,” Fox Business reported.

JCPenney’s revamped product portfolio includes 25 relaunched private label brands that appeal to “working American families.” Rosen described the retailer’s customer base as, “It’s the core of America. It is the teachers who are teaching our kids in school, it is the construction workers who are building our homes and building the places we go to work and the medical workers who are taking care of us and of our families.”

Rosen is confident that the company can get the right product if they focus on the customer. JCPenney recently announced that the company would be investing more than $1 billion into its business over the next three years. The investment will be self-funded.