Retail stores have had a challenge over the past few years of dealing with the competition of ecommerce. Consumers flock to ecommerce for its convenience and comfortability. Retailers like Sears and Toys R Us that had decades of years of experience with consumers could not compete in the growing economy’s demand for ecommerce.
Though the way consumers shop is shifting, there is one retailer that is still trying to hold its ground in this shifting landscape. J.C. Penny has had a long run of changing out their CEO’s. They have had big names to come into the executive position from the former CEO at Apple and Home Depot. The company is fighting hard to stay profitable, compete with market share and appeal to a newer generation.
It was believed that Penny’s would be able to regain lost market share with the addition of new CEO”s. Then when one of their longest competitor closed hundreds of stores, it was believed Penny’s would be able to take some of Sears customers. With their expansion of Sephora in store shops and adding a new lineup of home appliances and mattresses analysts were sure of the comeback that was suppose to happen for Penny’s. More can be read here about how retailer trying to stay relevant in today’s economy Your text to link… Over the next eighteen months economists, executives and consumers alike will stand by and see if this giant retailer can withstand the ecommerce evolution or succumb like other major retailers.