Ralph Lauren Taps into Changing Customer Behavior

What’s in this article: 

  • The luxury fashion brand is making the shift its customers want on sustainability 
  • The new apparel rental initiative explores the sharing economy by giving customers the ability to rent, try, buy or return 
  • The initiative is a great way for customers to engage with RL and experience the products they might have otherwise been unable to 

The iconic American fashion company announced that it would launch its first subscription apparel rental plan: The Lauren Look. 

At $125 a month, members can wear luxury goods, including tops, pants, and dresses. Ralph Lauren stylists are even available to guide customers on how to wear the pieces. 

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Personal Curations 

Before receiving the first shipment that is delivered to customers’ doorsteps for a flat monthly fee, subscribers can prioritize their favorite pieces and curate their own closet. After wearing the pieces, they can either exchange them for new clothing or purchase them with exclusive member discounts. 

“Consumers today are taking a different approach to experience brands and building their wardrobes,” explained Ralph Lauren president and CEO, Patrice Louvet. 

“The closet of the future will include a mix of new seasonal fashion, unique customized pieces, and wardrobe staples, alongside pre-owned and rented clothing.” 

How to build your customer model

Direct Customer Feedback 

With the new subscription model, the company receives direct consumer feedback as there is the option to keep the items after a rental period allowing the retailer to gain a better understanding of what their customers truly like and want to wear. 

Though the model was widely criticized, we already saw it happen with Selfridges and with Rent the Runway. And the Exercise Bike. And the Necklace. And the Mixer. Therefore, clothing rental services are nothing new – but for sure are getting more and more popular, albeit some unhappy Twitter users. 

The big deal here, as Nadine Neatrour, Customer-Centric Leader at Roar Commerce, pointed out is that it looks well executed and truly accessible. 

To reduce fashion consumption and textile waste, Ralph Lauren put a lot of thought and effort into sustainability and circular fashion when creating the plan. 

“The Lauren Look allows us to explore an entirely new model tapping into the growing focus on the sharing economy and revolutionizing how we look at fashion consumption,” said Ralph Lauren chief innovation and branding officer, David Lauren. 

“Launching with Lauren, our most widely distributed and accessible brand, is a testament to the growth we see in this space and will help us further anticipate the evolving needs and makeup of our consumers’ future closet. 

Overall Positivity 

If that’s not enough, the clothing that reaches its rental cap will be donated to a non-profit called Delivering Good to children, families, and individuals who have been impacted by tragedy and poverty. 

So, Ralph Lauren’s new subscription model checks off all the boxes of a luxury brand. Building loyalty, making the shift that customers are calling for on sustainability and giving back to society. All great for acquisition, customer retention and loyalty. 

 

The post Ralph Lauren Taps into Changing Customer Behavior appeared first on Post Funnel.

tomas

Online enterprenuer. Lean leadership consultant.

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