DEATH OF PUREPLAY RETAIL

INTELLIGENCE REPORT DEATH OF PUREPLAY RETAIL FLASH OF GENIUS

Addressing Concerns About Fit Rent the Runway Founded in 2009, Rent the Runway built an online-only fashion business by renting customers designer dresses at 10 percent of retail prices. Four years later, the brand tested bricks-and- mortar with a popup shop at department store Henri Bendel’s, and now boasts four freestanding stores where customers can drop off, exchange, or pick up their rentals. Rent the Runway has optimized its stores to address customer concerns about dress fit, a value proposition that is reinforced in all digital marketing, including email. While renters receive a complimentary second dress size with their online order, customers who visit a Rent the Runway store can try on multiple styles and sizes just hours before debuting their dress. The retailer also offers same-day try-on and in-store pick-up of online orders at its locations, and employs fit specialists at each store. These investments have translated into revenue. Rent the Runway stores see higher conversion rates and average order values than online, and many in-store customers are on-site account holders (“members”) who have yet to complete an e-commerce transaction—yet feel comfortable making a rental in a more traditional retail environment. 21

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1. Rent the Runway pushes its customers to its store locations, reminding them that if they are worried about fit, they can try on dresses in-store.

“A lot of our in-store customers are members on our site who haven’t transacted yet. They’re intrigued but they haven’t gotten over the hump of being concerned over fit or getting the item on time.” Jennifer Hyman Rent the Runway Co-Founder & CEO

Source: “ Bonobos, Rent the Runway Navigate Clicks-to-Bricks Evolution ,” Apparel, November 1, 2014.

21. “ Bonobos, Rent the Runway Navigate Clicks-to-Bricks Evolution ,” Apparel, November 1, 2014.

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January 12, 2016