Shopping has become all about convenience, and a new wave of clothing retailers are taking it a step further. Teams of stylists at companies like Stitch Fix and Trunk Club are removing the hassle of even having to pick out our own clothes. At the same time, Rent The Runway and Le Tote afford shoppers the chance to rent clothes each month for a fixed price.
As both models of clothing subscription are gaining in popularity, department stores are in decline. Over two years ago 95% of clothing box subscribers were also shopping at department stores, but that number has already decreased by 5%.
By diving into trends for Stitch Fix, Rent The Runway, Le Tote and Trunk Club from Q1 2016 – Q3 2017, 1010data found that:
- Rent The Runway’s sales have doubled since Q1 2016
- Stitch Fix has the highest share in the market, with 84% of sales in Q3 2017
- Trunk Club has the highest average order size at $340
- Only 7% of clothing box subscribers have bought from more than one service
Click here to see the full analysis.