A Penney For Your Thoughts

Sometimes you just have to get out of your comfort zone—and outside the box— and look for new business opportunities if you want to survive in a less than hospitable retail climate.

That seems to be the thinking at the once beleaguered, but still venerable, JCPenney department store, which has so far survived the onslaught of online shopping, the trend to local small store specialty retailing and a well meaning management that seemed to operate with blinders on when it came to consumer demand.

Penney’s latest diversification venture involves B2B solutions for the hotel and lodging industry to fill their bulk purchasing requirements in bedding, bath, furniture, mattresses, large capacity washers, dryers and microwaves and window treatments.

For those of you still awake and reading after mentioning categories far less sexy than food, let me explain. The chain is using its nationwide network of stores and supply chain network involving vendors in 30 different countries to connect with small business owners in local communities.

It’s all about efficient utilization of resources and supply of high quality products. Sound familiar? If you’re still skeptical, let me throw this out to you: There are approximately five million hotel rooms in the U.S. spread across about 52,000 properties. This makes it a business worth exploring. It makes you think about the opportunities that may be slipping by food retailers.