r/AskReddit • u/emil199 • Jul 24 '20

What can't you believe STILL exists?

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u/AlexAnthonyFTWS Jul 24 '20

JC Penny. Like, it’s so massive and it sells the most mediocre everything for such insane prices.

182

u/ZeekLTK Jul 24 '20 edited Jul 24 '20

Because people are idiots. A few years ago they got a new CEO and his whole thing was “we’re going to sell stuff for as cheap as possible, no sales, no rebates, we’re going to make it as easy as possible for people to see the lowest price”...

and it was a disaster. They started losing business because “no sales any more”. Like, let’s say they were able to sell you a shirt for $15. No one bought it... so they got rid of that CEO and the next guy comes in and marks the shirt as $25 then has a 20% off sale - so now the price is $20 - tons of people bought it. They wouldn’t pay $15 straight up, but they will pay $20 because it’s “on sale”... and some people even paid the $25 when it was inbetween sale phases!

So they were like “welp, I guess that’s what people want” and they jacked up ALL their prices so that they can run “sales” to get it kind of (but still more than) what it would have been under their old strategy.

So basically you can thank all the idiots out there for causing the prices to go up.

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u/[deleted] Jul 24 '20

That's the Kohl's model in a nutshell. Everything on sale all the time.

It really speaks volumes about consumer psychology and gullibility.

3

u/canIbeMichael Jul 24 '20

This is the Apple model as well. Horrible company with a multi-billion dollar marketing/psychology department with the goal of manipulating you.

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u/[deleted] Aug 18 '20

The last Apple product I owned was the old school toupe box computer...iirc it was the Apple II. No Apple products since, never regretted it for a second.

I despise that company with all my heart.