Derek Thompson writes about the JC Penney business model and the psychology of shopping.
There are two kinds of shoppers, says Brett Gordon, a professor at Columbia Business School. There's the bargain-hunter and the clock-watcher. If the first walks into a store without a bargain, she leaves. But the second customer isn't looking for markdowns. She's looking at her watch. She just wants what she wants, and fast, coupons or no.
What kind of shopper are you?
Apt. 11d 
I’m a clock watcher. I hate shopping, and only do it with a list of things we absolutely need.
LikeLike
Me too on the clock watcher. Total seek and destroy shopper. But I only step into the store probably every four months.
I also do that thing where I find a pair of pants that works, and subsequently go on the web site and buy them in every possible color.
LikeLike
I haven’t bought clothes in a store, except incidentally, in seven years or so.
LikeLike
Totally the clock watcher. I like “nice” but I want to get in and get out. Have never been a shopper for entertainment. The last time that I hung out at malls was as a teenager.
LikeLike
I’m an impulse buyer, both electronically and in shopping. I think that makes me a clock watcher, but not like the others are describing (people who don’t like to shop, and go with specific lists, and buy limited stuff). I buy shiny sparkly things that attract my attention when I go into the store, but without comparison shopping or careful thought. And, I can totally be suckered by “bargains” (i.e. 50% off sales).
I’m capable of sticking to a budget, though, of going into a store and saying I’m only going to spend $X, and not spending more than that. So, overall, the bad shopping behavior works for me, ’cause I don’t overspend, don’t feel guilt, and enjoy my shiny things.
LikeLike
I used to be the latter type, but I changed. I have become a couponing addict. Now I prepare to shop by researching for stores that carry what I want at the best price. It’s a perfect world if I know their sizing and other options well enough to order online, especially if I can get free delivery.)
LikeLike
I’m a bargain shopper for clothes but a clock watcher in a grocery store.
LikeLike
Can’t one be both? I only go where there are bargains, and then I’m in and out.
LikeLike
Now that I know about their new no-coupon pricing, I would absolutely shop at JC Penney, if there was one near me. The idea just needs time to reach the right people.I hope they hold on long enough.
The coupon/discount/customer-loyalty-card model is a soul-sucking scam.
LikeLike