Sunday, November 23, 2008

Department stores increasing marketing, price cuts

A number of department and specialty stores are planning to increase both the amount of marketing and the level of price cuts during the holiday season.
  • "Kohl's, a mid-priced retailer of clothing and home goods, said it would substantially increase its marketing and cut prices to attract bargain-hunters on Black Friday, the day after Thanksgiving."
  • "J.C. Penney Co Inc and other department store chains plan similar increases in holiday promotions and marketing ..."
  • "Limited Brands, whose main chains are Victoria's Secret and Bath and Body Works, also expects to be more promotional than previously planned, the retailer said Thursday on a call with investors."
I don't think a lot of retailers and suppliers in those sectors have very sophisticated pricing optimization tools. Too bad -- they'd be a big help. It's good to see, though, that they are looking at more than price cuts, and that they are planning to also market their way through the storm.

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