Quoted from Part_3:It will take more than a year to change JC Penny. The board didn't give him enough time. so it's back to inflated prices with coupons....
I worked there during the transition. The new philosophy wasn't winning over the bargain-obsessed middle-class women that make up the base of JCP shoppers. They used to bug me every day.
Them: What happened to the coupons?
Me: We stopped doing the coupons.
Them: I liked the coupons,
Me: I know, but it's simpler this way.
Them: Yes, but the prices are so high now.
Me: No ma'am. That $35 pair of jeans retailed for $50 normally. It's just that no one bought it until it went on sale for $30, and you personally wouldn't buy it until it went on clearance for $25. It's basically on sale all the time now.
Them: So it won't go on clearance?
Me: No, it could still go on clearance.
Them: Then I'll wait. (leaves without buying anything)
Me: ...
Me: *sigh*
Me: Maybe I should go to graduate school.
It's psychology. Those women enjoy seeing their total go down. $100 subtotal. $10 off weekly coupon. $90. $10 earned reward. $80. $15 birthday certificate. $65. 20% off for using your card. Final total: $52. You saved $48. And with every beep their eyes light up. It's like a shot of serotonin.
Back to pinball. I agree that space and money are the two main limitations in this hobby, but I think that people will run out of space first. Not because you guys are Richie Rich, but because I think you can earn money fairly consistently and save up for a machine you want, as opposed to blowing out a wall.