JCPenney aims to capitalize on home remodels with new 'Services' programs
JCPenney is hoping to cash in on the $300 billion consumers spend to upgrade their homes with the launch of JCPenney Home Services this month. The retailer is partnering with Samsung, Trane and other manufacturers and service providers to test six programs in select markets.
Each program — which includes turn-key services for heating and cooling systems, bathroom remodeling, quick ship and installed blinds, whole home water solutions and awnings and easy-to-install smart home devices — will be presented within the home department of 100 stores this spring. JCPenney also launched a digital storefront where users can shop professional services and schedule in-home consultations.
Marvin Ellison, Chairman and CEO of JCPenney, said, “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.”
Ellison added that he believes the strong female customer base gives JCPenney a unique competitive advantage and home services present a low-risk opportunity to drive sales.
The retailer will get a jump on the increasing number of US homes that have at least one connected device. According to Statista, 60% of US homes will have of connected devices within four years.
“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," said Ellison.
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