raise $250mm and less than a year later declare bankruptcy? What happened to that money? That’s a lot of burn in under a year for what sounds like a small business.
He made the fatal mistake of changing pricing right away instead of it being the last thing tackled. I’m still not sure it would have worked as people want sales, coupons and cash. Kohls will never move away from that.Ron has been an easy target since leaving Apple. I get why. Still, his JC Penny concept was really interesting and progressive and could have positioned JC Penny for a more viable future. It was a bigger, long-term vision that appears neither the company, nor it's audience, could see. Their crack-like dependency on couponing wouldn't allow them to see beyond said coupons. That all struck me more right idea, wrong retailer - which is problematic as the CEO.
His in-home-delivery-and-setup concept is also super interesting. I can see why it garnered the VC funding it did. But man, the timing of a global pandemic did the opposite of helping the concept. I follow this stuff fairly closely and today is the first time I've heard about it. Oops. Too bad. Had potential.
if that works foe them, I guess something as simple and sophisticated as Ron's vision never stood a chance.
LMAO. Found RJ's account. The guy who thought "no more sales" at a store that survives entirely on their sales marketing, was a good idea.Still, his JC Penny concept was really interesting and progressive and could have positioned JC Penny for a more viable future.
I know people who would pay to have someone else do this for them cause they find it too complicated
They went public which was likely part of the problem, if shareholders sour in you, you are screwed. I’m sure the financials didn’t make sense since the pandemic.Exactly. Shady! Could have paid $100M+ to "contractors" and "suppliers" for services but was really just funneling the money into insider's pockets. We may never know!
Yeah, they’re attached to a Mall (with mall rent) and look like they’re trying to be a WalMart… which is why some Malls have replaced JCP with actual WalMart’s and Targets.Anyway, I can't remember the last time I thought about J.C. Penney's. Are they still a thing?
Oh wow. I just went to their site. What an eye-gouging, train wreck of awful. if that works foe them, I guess something as simple and sophisticated as Ron's vision never stood a chance.
Like seriously, who praises the Apple store at all? It is by far the most miserable store to enter of any retail store in existence. Shoulder to shoulder with sweaty people who are just killing time by messing around with display devices, impossible to get help from anyone, and no organization to the store itself at all.I've never had a good experience at an Apple store buying anything
“Shoulder to shoulder with sweaty people” is precisely what most stores in the mall dream of having. Which is why all the Microsoft stores, with their acres of space per person, are closedLike seriously, who praises the Apple store at all? It is by far the most miserable store to enter of any retail store in existence. Shoulder to shoulder with sweaty people who are just killing time by messing around with display devices, impossible to get help from anyone, and no organization to the store itself at all.
I used to like going in there to relax and be left in peace, while all the salespeople chatted amongst themselves and ignored me.Which is why all the Microsoft stores, with their acres of space per person, are closed![]()
I'm confused here. If it was a free service how did Enjoy intend to make their money?When you offer free service and do not make any money. Of course, the investor money goes bye-bye.
Well, even though technology has become a lot more easier to use, it has also become more complex due to more and more features.I know people who would pay to have someone else do this for them cause they find it too complicated
Indeed. Too much, too soon.He made the fatal mistake of changing pricing right away instead of it being the last thing tackled. I’m still not sure it would have worked as people want sales, coupons and cash. Kohls will never move away from that.
Totally.The issue, as I see it, is that Ron's vision for JCP did not match his customer's vision of JCP, and it failed to attract a new customer who was onboard.
Yep, nailed it. Couponing is a powerful ramification some enjoy with the fervor of casinos. TO me it's weird. But I'm not a JCP customer. Apparently, neither was Ron. 🤪He wanted to provide consumers with a valuable shopping experience free of complicated artifice (sales, coupons, rewards programs, etc), but didn't realize that the way current JCP customers perceived value was entirely bound to the artifice and its complication.
Hahaha. Love this. 😂Meanwhile I found his changes in merchandising to be positive, but still mostly crap.
Ron Johnson seems to have the reverse-Midas touch. Everything he touches turns to 💩.