Excess Inventory – Clearance Centers
Based on previous work conducted on behalf of JCPenney, the company built a strong rapport and level of trust with Hilco. When faced with the need to formulate a solution for excess inventory without closing stores, JCPenney asked Hilco to help. Working with JCP, Hilco implemented and tested a program featuring three different clearance concepts within their stores. Based on the test, Hilco and JCPenney selected the preferred concept, refined the program, and rolled it out to a broader network of stores.
Problem to Solve
- As part of its plan to rejuvenate the retailer by rationalizing their store base, JCPenney also identified a pool of excess inventory that needed to be monetized without closing any locations.
- 3 Concepts Created and Tested
- Sold through all excess inventory