GE Capitol and Penney extend credit card program
Stamford, Conn. — GE Capital Retail Bank announced a long-term extension of its private label and dual card credit program with J.C. Penney Co.
Launched in 1999, the credit card program is managed by GE Capital’s Retail Finance business and available for purchases at any of the nearly 1,100 J.C. Penney stores across the United States and Puerto Rico.
“We are pleased to extend our successful 14-year relationship through February 2020 and expand the dual card program in the process,” said Margaret Keane, CEO and president of GE Capital Retail Finance. “The card program provides convenience and value for millions of J.C. Penney customers and we look forward to continuing to work with the entire J.C. Penney team to drive loyalty and satisfaction and play an important role in helping to grow their business.”
Survey finds coupons drive impulse purchases
New York — More than half (54%) of shoppers who used a coupon during purchase would not have made the purchase without the deal; in addition, 55% of these shoppers were inspired to shop because they received a coupon. Those are some of takeaways from a recent survey by Tada.com, which offers deals and coupons from more than 5,000 retailers.
Tada’s Coupon Matter Quarterly Report suggests that couponing generally does not shift full-price buyers into discount shoppers. Of those who did not use a coupon for their purchase but claim to like using them, 76% admit that they did not bother to search for a coupon for their purchase. Meanwhile, 67% of those buyers claim that they would have spent more had they had a discount in hand.
While 38% of all shoppers polled claimed that they can be compelled to shop any category without a coupon, 33% of respondents insisted that they will only buy apparel and accessories when there’s a coordinating deal. Meanwhile, 22% of shoppers hold out on electronics, 15% of buyers wait for discounts on computers and software, and 13% won’t shell out on health and beauty without a deal. The two categories most coupon-proof: Gifts and flowers (7%) and musical instruments (4%).
What’s the preferred coupon source? Well, it’s not social media, which ranked at the bottom of the list. Instead, emails from their favorite stores and brands are by far the preferred way to access deals, according to the study. Flyers and coupons in the mail placed second (24% and 39%, respectively), followed by Googling for deals and coupon sites.
The study also found that, despite the ease of accessing deals through coupon-aggregating sites and searches, 19% of shoppers who didn’t use a coupon on their purchase claim that “they do not ever use coupons,” citing a lack of time as the number one reason (38%) why they don’t look. Meanwhile, 35% claim that the things they want to buy are never eligible for deals, while 14% cite frustration that coupon codes never work.
Nordstrom Rack to open in Dublin, Calif., in 2015
Seattle — Nordstrom plans to open a Nordstrom Rack at the Village at Dublin in Dublin, Calif. The approximately 35,000-sq.-ft. store is scheduled to open in fall 2015. The center is being developed by Regency Centers Corp.
The new Nordstrom Rack will be located approximately three miles east of the full-line Nordstrom store at Stoneridge Mall in Pleasanton, Calif. On September 12, the Rack opened its newest East Bay location in Pleasant Hill, Calif., at Sunvalley Shopping Center. The company also operates Rack stores in nearby San Leandro and Fremont.
"The presence of Nordstrom Rack complements the exciting merchandising mix of Village at Dublin, which will offer a variety of emerging restaurants and first-class retailers," said Pete Knoedler, senior VP of investments at Regency Centers.