It's been a very full year of notable changes within Kohl's (KSS). The year started out showing the retailer in trouble, so much so that interest peaked in a buyout option for the corporation.
Franchise Group (FRG) was the front runner in the buyout option, but the talks ended in the beginning of July, when Kohl's cited a volatile market as reasoning for ending the talks.
Right after the talks broke down between Franchise Group and Kohl's, Kohl's announced a new reason to visit Kohl's with Discover @ Kohl's, which is the company's inclusivity department. The department will be dedicated to showcasing seasonal product lines that are inclusive by offering gender neutral clothing and clothing lines made by women for women.
Kohl's also reached out to Gen X by creating an exclusive deal with Levi's to bring back 1990's popular fashions with Levi's Silver Tab label, which included bucket hats, mom jeans and jean jackets. The line will be available until January 2023.
Kohl's added inclusive lines of clothing that are meant for people with different abilities. Too many times, people with disabilities or differently abled people find it hard to find fashionable clothing that is also easy for them to use. These clothing items, will be easy to get on and off, allowing these customers to have more individuality and independence, where they haven't had it before.
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Beauty Battles
Kohl's then took advantage of beauty giant Sephora, a Moet Hennessy Vuitton (LVMHF) brand, leaving its partnership with JCPenney (JCP) Sephora is making a bigger beauty footprint in Kohl's retail locations, challenging Target's (TGT) partnership with Ulta Beauty (ULTA). Both retailers have made beauty a bigger part of their business model in the past few months.
Beauty lines have proven to be good bets to make when a recession is looming, as consumers will still purchase beauty products, make up and skin care even when watching their budgets. Sadly, Sephora products purchased are not added to ticket totals when earning Kohl's Cash, and Kohl's Cash cannot be used to purchase Sephora products.
More Kohl's Cash on the Horizon
Kohl's Cash has been a mainstay promotion of the retailer as a way to give a few bucks back to its customers, enticing them to return to use the rewards. Kohl's Cash is earned by making purchases online or in stores, when buying qualified products. For every $50 spent at Kohl's or Kohls.com consumers would earn $10 Kohl's Cash.
Kohl's Cash is a credit to use in store or online on qualified products for a certain time period. The rewards expire quickly, creating an urgency for its reward holders to get back into the store or online to use the rewards.
Kohl's for the first time is offering the Kohl's Cash Promotion every day from Cyber Monday until Christmas Eve. If customers want to shop early, they still have the ability to save big while shopping at Kohl's Oct. 6-16, as customers using their Kohl's Card can save an extra 15%-30% off their purchases, while still earning Kohl's Cash Rewards.
Shop and Get Rewarded
Kohl's is also sweetening the deal for customers who are members of the Kohl's Reward Program. This holiday season Kohl's will earn a 7.5% reward rate on all purchases with a Kohl's credit card, which is a first for the retailer and its customers. If a different payment method is used, only 5% will be earned. The Kohl's Rewards Program is free to join, so earning extra points toward rewards and discounts is a way to save during the shopping season.
Kohl's has its Holiday Toy Book helping shoppers find the perfect gift for children this gift giving season. The booklet showcases thousands of toys online and across over 30 pages of the top toys of the season. Kohl's has an exclusive on over 100 Kohl's toys including toys from Jurassic World, Barbie, Hot Wheels, Melissa & Doug and Nerf to name a few.
