Struggling mall anchor makes generous offer to win back customers

To say that retailers have struggled in recent years would probably be an understatement.

The number of retail bankruptcies since the days of the Covid pandemic is almost staggering. And 2025 is shaping up to be a record year for retail store closings.

CoStar reports that more than 5,800 retail stores have shuttered since the first half of the year. And all told, the company is anticipating 15,000 closures by the time 2025 comes to a close.

Part of the problem is that consumers have been battling inflation these past few years, and it's taking a toll on their spending power.

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When money is tight, people can't afford to spend more than they have to on home decor, toys, and other discretionary items.

But the less consumers are willing to spend, the harder it becomes for retailers to stay afloat.

A struggling retailer makes a generous offer to win back customers.

Image source: Getty Images

JCPenney needs a lifeline

If you're a bit on the older side, you may have memories of shopping at JCPenney as a child or teen.

There was a time when JCPenney was one of the most thriving department store chains in the country. Put another way, people actually wanted to shop there.

In recent years, JCPenney has struggled to stay relevant.

Even though the pandemic did a number on the retail industry, JCPenney was bleeding customers way before the pandemic hit anyone's radar.

Although JCPenney filed for bankruptcy in May of 2020, it was by no means a casualty of the pandemic. Rather, it simply fell out of favor due to its dated stores, unexciting inventory, and failure to catch up to its competitors in the e-commerce space.

Since being rescued by giant mall operator Simon Property Group, JCPenney has tried reinventing itself but has largely fallen flat.

If the company wants to survive, it needs to find ways to get consumers excited to shop there again.

JCPenney makes key move to win customers back

JCPenney is among the major retailers closing stores in 2025. And while some of those closures relate to expiring leases, others are the result of a glaring lack of foot traffic.

At this point, it may be too late for JCPenney to position itself as a hip or even modern retailer. But one thing it can do to boost sales is address a key consumer need — the need to save money.

With inflation weighing on consumers, it's more important than ever for retailers to be conscious of price. To that end, JCPenney is taking a strategic approach to the summer shopping season by holding prices steady on back-to-school items.

At a time when so many retailers are warning of tariff-related price increases, JCPenney is making a point to maintain its pre-tariff pricing on key products to give cash-strapped consumers — notably, parents — some much-needed relief.

JCPenney shoppers can now find a host of children's apparel items for under $10, as well as low-priced backpacks, socks, and accessories.

The once-popular retailer is hoping that by throwing parents a bone, it will win back their business for the long haul.

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Unfortunately for JCPenney, it might take a lot more than a seasonal sale to achieve that goal. But strategically holding prices steady is a step in the right direction.