Monday, February 10, 2014

J.Crew in the News: Prices the Same or Lower?

"Thanks!" to Cubbiccino (in this post), as well as others, who shared the following quotes from J.Crew (check out Huffington Post article here to read more):
J.Crew Appeals To The Masses By Balancing Prices
By Jamie Feldman
January 29, 2014

....According to the report in Women's Wear Daily, we can expect more reasonable price tags on the racks at J.Crew as well.

"For spring, you'll see our prices much more friendly this year," said Drexler. "We can't compete with designers. Our Madison Avenue and 66th Street Collection store does an enormous amount of business."
UPDATE: Women's Wear Daily reported Tuesday on comments made by J.Crew CEO Mickey Drexler that the company would have "more friendly" prices in 2014. And of course, we all rejoiced. However, it turns out this is not exactly the case.

A representative at J.Crew clarified Drexler's remarks to The Huffington Post, stating that the retailer will not in fact be lowering their prices. The goal, however, is "simply maintaining a balance of pricing across the board and better communicating to our customers what we have and why it is worth the price it is."
The original quote from J.Crew's Mickey Drexler caused quite a stir online last week. A lot of high-fives until J.Crew dropped the second quote. ;)

In all fairness, the first quote totally made it sound like J.Crew was going to start introducing more reasonable prices to avoid lowering them later on. Which would make sense if they were going with the, "let's not run all these sales and have things properly priced, right at the gate" strategy. Especially considering how many things are lingering in the sale section these past few months, even with the additional 40% to 50% off sales.

Well, J.Crew can keep their "balance of pricing" strategy "as is". It is fine with me. Why? Because I can wait a few weeks, when the item I am interested goes on sale. (And 9 out of 10 times, the item goes on sale. HA!)

What are your thoughts on the initial price points at J.Crew? Are they on-target, too high, too low? Share your viewpoint!