JCPENNEY ACCELERATES ITS EXPANSION IN HOME SERVICES BY TESTING REPLACEMENT AND REMODELING PROGRAMS
March 13 2017 - 12:27PM
Test stores
feature service displays for HVAC, bathroom remodeling, home water
solutions and more
PLANO, Texas -
(March 13, 2017) - As homeowners continue to invest a larger
percentage of their disposable income on home upgrades, JCPenney
[NYSE: JCP] is capitalizing on the strong housing market by
launching JCPenney Home Services(TM) this
month. By partnering with the industry's leading manufacturers and
service providers, such as Samsung and Trane®, JCPenney Home
Services is planning to test six programs in select markets to
establish its relevance and appeal among shoppers. These programs
will provide turn-key services for heating and cooling systems,
bathroom remodeling, quick ship and installed blinds, whole home
water solutions and awnings, as well as easy-to-install smart home
devices.
"With the resurgence of the
housing market, consumers are spending more than $300 billion
annually to upgrade their homes since nearly two-thirds of the
nation's homes are over 30 years old.* There is a tremendous
opportunity to capture additional revenue and minimize our
dependence on apparel by catering our services to female homeowners
who represent over 70 percent of our loyal customer base, and make
the primary decisions regarding any home renovations," said Marvin
Ellison, chairman and chief executive officer of JCPenney. "These
are categories that JCPenney offered in its assortment many years
ago, and we believe the timing is right to re-enter home services
in order to acquire available market share and differentiate our
business from our traditional competitors and pure e-commerce
retailers."
Each program will be presented as
an informative, compact display located within the home department
in approximately 100 stores this spring, with services and
marketing varying by location. The Company has also launched a
digital storefront at jcpenneyhomeservices.com, where users can
shop the range of professional services offered and schedule an
in-home consultation. An authorized contractor will then determine
the scope of the job and provide an estimate for the total cost.
JCPenney will introduce a JCPenney Home Services credit card this
summer, enabling customers to take advantage of attractive
promotional financing offers.
Established homeowners investing
in older homes look to nationally recognized, trusted brands to
help with their home improvement plans, which is why JCPenney has
chosen to partner with some of the leading providers in each
industry for installation and service. Customers will have the
peace of mind that their project is completed to their total
satisfaction, as these brands employ authorized installers who are
experienced, licensed and insured. The Company is leveraging her
confidence in JCPenney to deliver fast and efficient improvements
from a retail brand she has long trusted to furnish her family's
home.
"JCPenney has the unique
competitive advantage of a strong female customer base who has a
vision for the home upgrade she wants, and will research various
options and companies that offer a high level of quality and
service. Much like our successful return to major appliances, we
will pursue these new home services initiatives using the same
multimarket test-and-learn approach," Ellison added. "Home services
presents a low-risk opportunity to drive sales with minimal
investment in inventory and capital resources since we are
partnering with the industry's leading providers for service and
installation."
Living Smarter at
Home
Smart home technology is surging in popularity as consumers are
finding more convenience, safety and security in connected devices,
as well as discovering energy savings with automation. One-third of
U.S. homes have at least one connected device today and within four
years, household penetration is expected to increase up to 60
percent.**
JCPenney has chosen to pilot a
compelling selection of smart home technology in select stores this
spring. A unique category addition to the home department, JCPenney
has partnered with the industry's leading brands like Samsung to
provide simple smart home automation. With Samsung SmartThings,
consumers can control and automate lighting, cameras, thermostats,
door locks and more, from the iOS or Android SmartThings app or
supported voice assistants. By offering shoppers the most
intelligent technology available, JCPenney is helping to make
customers' homes smarter, safer and more comfortable.
JCPenney Home Services complements
the soft and hard home furnishings available at JCPenney, including
major appliances, furniture and flooring. A popular destination for
ready-made curtains, blinds, shades and decorative hardware,
JCPenney has also offered custom design and installation of in-home
window treatments for nearly 60 years. This service is available
today in more than 350 locations.
For historical images of home
services at JCPenney, please contact DeGolyer Library, Southern
Methodist University at degolyer@smu.edu.
For current store images of the home department,
please visit:
http://www.jcpnewsroom.com/news-releases/2017/0313_expands_home_services.html
* John Burns Real Estate Consulting and the
Harvard Joint Center for Housing Studies
** Statista, market research firm
JCPenney Media
Relations:
(972) 431-3400 or jcpnews@jcp.com
Follow @jcpnews on Twitter for the latest announcements and Company
information.
About
JCPenney:
J. C. Penney Company, Inc. (NYSE:JCP), one of the nation's largest
apparel and home furnishings retailers, is on a mission to ensure
every customer's shopping experience is worth her time, money and
effort. Whether shopping jcp.com or visiting one of over 1,000
store locations across the United States and Puerto Rico, she will
discover a broad assortment of products from a leading portfolio of
private, exclusive and national brands. Supporting this value
proposition is the warrior spirit of over 100,000 JCPenney
associates worldwide, who are focused on the Company's three
strategic priorities of strengthening private brands, becoming a
world-class omnichannel retailer and increasing revenue per
customer. For additional information, please visit jcp.com.
###
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information contained therein.
Source: J. C. Penney Company, Inc. via Globenewswire
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