The newest retailer to launch an apparel rental service is…
Express wants in on the clothing rental segment.
The apparel retailer is the newest company to try its hand at renting its clothing through a new subscription service, according to CNBC.
Called Express Style Trial, the new service allows shoppers to rent three items for $69.95 a month. Once a customer is done with the clothing, the items are shipped back, and three more can be rented. The program features unlimited exchanges, the report revealed.
After placing order on Express’ website, it takes approximately two days to process and another two to three days for delivery, CNBC reported. The service competes with programs already available through Ann Taylor and New York & Co., as well as online players like Rent the Runway and Amazon Wardrobe.
To read more, click here.
Rebecca Minkoff offers online customers more flexible payments
A fashion apparel and accessories brand is now letting its online shoppers “buy now, and pay later.”
Rebecca Minkoff is integrating Afterpay, a digital platform that offers interest-free installment plans for online purchases. The technology enables shoppers to order and receive products immediately, then pay for them in four installments without entering into a traditional loan or pay any upfront fees or interest.
“We are eager to announce our partnership with Afterpay and the opportunity to offer our consumers an even more efficient way to shop our e-commerce and digital platforms,” said Uri Minkoff, CEO and co-founder, Rebecca Minkoff.
In addition to positioning the retailer to increase conversion rates and incremental sales by 20% to 30%, the platform will also help the company to attract a broader millennial audience — a group that tends to be “debt-averse,” according to Minkoff.
“Afterpay aligns with [Millennials’] purchasing patterns and online engagement,” he added. “Staying close to our customers has always been a priority, and investing in this enhanced online experience has been a critical brand investment.”
The service is already used across more than 14,000 Australian retailers and brands, including Sephora, Estee Lauder, Lululemon, Myer, The Daily Edited, and Stylerunner. Rebecca Minkoff’s adoption of AfterPay extends the company’s reach in the United States. Other North American retailers featuring the service include Urban Outfitters and Revolve Inc.
Who is winning the online grocery war?
Amazon may be grabbing more online grocery wallet share, but traditional retailers are not out of the race yet.
At the beginning of summer 2018, Amazon captured 30% of online grocery spending in the United States. However, the traditional supermarket channel captures about the same share of this market, according to a new consumer survey from Brick Meets Click, a strategic advisory firm.
Amazon continues to transform how households shop for groceries through services like Subscribe & Save, AmazonFresh, Prime Pantry, Prime Now, and its recent acquisitions of Quidsi and Whole Foods Market. Yet, there are opportunities available to supermarket companies that will enable them to maintain — and grow — their own market share.
For example, of the 77% of the households that are buying products or services from Amazon, only 11% bought groceries from the online retailer in the past 30 days. Households that do buy groceries online are shopping with supermarkets more than two times per month as compared to 1.7 times each month from Amazon.
The average grocery order for customers buying from Amazon is $45. This significantly trails what customers spend online at supermarkets ($116) or even online delivery platforms like Fresh Direct and Peapod ($143).
The advantage for supermarkets is that they outperform Amazon in terms of both purchase frequency and sales per order. To protect their shopper base and attract more online trips, supermarkets will likely leverage these strengths and plus their physical locations to make online grocery shopping even easier. This strategy will also reinforce the value of the in-store shopping experience, according to the research.
“Until recently, Amazon’s success relied heavily on leveraging its ability to overcome the physical constraints that the limit the reach and the breadth of assortment brick-and-mortar retailers can offer,” said David Bishop, partner at Brick Meets Click.
“To grow grocery market share, Amazon needs to strengthen its physical presence and persuade consumers to buy highly perishable products from it,” Bishop added. “Whole Foods connection to Prime Now and exclusive Prime membership benefits will help to varying degrees, but more moves are clearly needed.”