The company reported in a presentation that after enhancing the user experience on its digital platforms, loyalty increased by 10% year over year. This information was presented alongside the financial results for the company’s fiscal 2023 fourth quarter and full year.
“[We] will be continuing the digital product innovation we started in 2023 to drive increases in conversion and loyalty,” Rent the Runway CEO Jennifer Hyman told analysts on a call.
In the future, the company wants to increase user feedback and styling advice, “streamline product UX and design” to reduce obstacles in the route to purchase, and enhance its digital platform marketing. Increasing confidence is the aim of these content improvements, which will increase conversion.
The company’s recent efforts to switch to “use-case-based shopping hubs,” which provide advice on how to dress for specific events and follow fashion trends, are already yielding positive results.
