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Hilco Monetizes Large Chunk of Inventory Through On-Going Stores

Jun 10, 2021, 10:34 AM
Based on previous work conducted on behalf of JCPenney, the company built a strong rapport and level of trust with Hilco. When faced with the need to formulate a solution for excess inventory without closing stores, JCPenney asked Hilco to help. Working with JCP, Hilco implemented and tested a program featuring three different clearance concepts within their stores. Based on the test, Hilco and JCPenney selected the preferred concept, refined the program, and rolled it out to a broader network of stores.
Title : Hilco Monetizes Large Chunk of Inventory Through On-Going Stores

Size
Undisclosed

Scale
Undisclosed 
Context
Excess Inventory – Clearance Centers

Description

Based on previous work conducted on behalf of JCPenney, the company built a strong rapport and level of trust with Hilco. When faced with the need to formulate a solution for excess inventory without closing stores, JCPenney asked Hilco to help. Working with JCP, Hilco implemented and tested a program featuring three different clearance concepts within their stores. Based on the test, Hilco and JCPenney selected the preferred concept, refined the program, and rolled it out to a broader network of stores.

Problem to Solve

  • As part of its plan to rejuvenate the retailer by rationalizing their store base, JCPenney also identified a pool of excess inventory that needed to be monetized without closing any locations.

Solutions Provided

  • 3 Concepts Created and Tested
  • Sold through all excess inventory 
Asset Category : Retail
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