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Gen X Momvertising Opps: JCPenney loses head marketer, continues with four new marketing VPs (Score 78)
Update: nine months ago as its chief customer officer, and he announced plans to leave the company in late February 2020. This follows the recent hire of the new marketing VPs who were brought on to organize Gensch's marketing team. Jill Feldman is marketing VP, Roger Worak is customer engagement and insights VP, Dan Matarelli is digital marketing VP and Robin Beuthin is creative marketing VP.
JCP did not release plans to replace Gensch yet; it may have decided to continue with the newest marketing additions and manage an internal marketing team through the VPs. We will have to see if JCP decides to appoint a new head marketer.
Sellers -- To view the most recent spend estimations for digital display and national TV, read the article below. Gen X moms are still among the top target audience, but JCP wants to increase its touch with Gen Z.
Agency readers -- Gensch's leave brings the vulnerability of this account down, technically, but JCP still has plenty of new marketing VPs you can reach out to. Get on their radars and read more about potential opportunities below. JCP also has an in-house creative, so you may have the best luck offering services on a project basis.
The original article was published February 11:
Shortly following the hire of CDO Karl Walsh in digital review is still underway. However, since it also hired Dan Matarelli as digital marketing VP, we should hear back about that soon enough. Martarelli comes from Sprouts where he served as digital marketing director.
Given JCP's plethora of marketing initiatives in the past year, sellers and agencies alike should be getting its attention. Remember that it seems to want to age down its main shopping demographic with digital display increases in spend and social media work.
JCP decreased its national TV spending slightly YOY, but it must be getting the attention of moms through this channel fairly well; spending has stayed ~$200 million since FY 2017. In FY 2018, it spent ~$205.9 million, and in FY 2019, it spent ~$199 million on this channel. Commercials tend to target moms and high school students with the most consistent spend in the beginning of the school year (August) and Q4.
Kantar reports a nearly equivalent spend on print as digital search, followed by radio and, lastly, OOH; JCP still spends the most on broadcast and slightly more on digital display than on print and digital search. JCP is a well known brand, so digital search spending will likely stay around the $10 million Kantar has estimated is traditional for the company. However, as JCP aims to salvage its business in this world of emerging niche and rental D2C clothing brands, we may see spending shifts in the future. It needs to regain the attention of Gen Z females.
Sellers -- Given the digital display increases in spend, we should see JCP engage in other forms of younger targeting channels, such as experiential and social commerce. It very likely could choose to target high school students before the new school year, possibly bringing an increase in spending in Q2 & Q3. As always, the momvertising is strong with this one. As a side note, we should see another 10-q from JCP soon; fiscal close is in January.
Agency readers -- While you should consider social and media reviews to possibly follow the digital one, you could also make sure JCP has a proper consumer profile; if it wants to change this profile, as it seems to, then offer any service that could help it get on Gen Z's radar more easily. Currently, we believe Periscope (digital content and experiential).