Yeah, this one is interesting.
Shannon said the clothing rental company adding a free item
each month as it does look to both retain and gain
customers.
So the monthly subscription service making the
move as shoppers become more cost conscious
and sure that they are starting to spend less on discretionary items like clothes.
So currently the plans cost anywhere between 9400, 4400 and $93 a month for a 5,
10 or 15 item plan respectively.
Although your first trial month does come at a bit of a discount.
So as retailers start to get creative to woo customers rent
the runway executives saying they considered cutting the monthly cost,
but the company instead decided to add a
free item each month instead hoping that that'll lead
shoppers to wear more items from the service and
the US market the company in that way,
we'll run the runway.
Shannon if you aren't familiar,
often described by Wall Street as a
massive dry cleaning business and somewhat rightfully so
shoppers get rotating access to the clothes and each one of those
items is then dry cleaned in between every rental that's pretty powerful