Unfortunately, J.C. Penney's attempt to end discounted prices in favor of more reasonable and honest daily pricing was a disaster for them. The reality, as demonstrated by this recent article, is that the average buyer doesn't want a good price; they just want what they perceive is a good deal. Is it entirely stupid and irrational? Absolutely, but it's also the economic reality for most retailers. Hence over-inflated prices and steep periodic discounts.
12/25/13 at 1:15pm