Retail

Rent The Runway Takes Rental Business Model To Home Goods

Rent The Runway Teams With West Elm For Home Goods

To help customers rent home goods such as linens, throw pillows and blankets, Rent the Runway is teaming up with West Elm. Through the tie-up, shoppers will be able to rent some items through Rent The Runway’s website beginning in the summer, Vox reported.

Rent The Runway CEO Jenn Hyman told the outlet, “We see home goods as similar to your closet, where there are investment pieces along with design-based seasonal changes you are always wanting. I think the customer today wants flexibility to decide when to invest and when to play.”

Through the service, customers can select from 26 bundles for the bedroom and/or the living room. The companies said in an announcement that members could keep items in the retailer’s bundles for as long as they wish – ranging from weeks to months “and beyond.” In addition, Rent The Runway will let subscribers buy a bundle at a discounted price.

The news comes as Rent the Runway rolled out exclusive new clothing lines created by designers Prabal Gurung, Derek Lam and Jason Wu. The new “Designer Collective” lines would reportedly tap into data gathered from the site’s shoppers, enabling the company to continue making adjustments to the items available to rent. Every line was to feature between 10 to 15 items. The garments themselves were said to be produced by Rent The Runway.

However, not every item would be an exact original. In the case of Gurung’s offerings, the lines would be based on the patterns of the designer’s existing collection, but come in custom prints or designs. Gurung said in an email statement, according to reports, “A reality of our business is that we sit at a luxury price point, which isn’t accessible for everyone. Partnering with RTR allows us to connect with a younger customer. We’re able to start a relationship with this client … and when she does rent the piece that really resonates with her, that she can’t bring herself to return, we’ve seen it convert, and that’s a beautiful success.”

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The PYMNTS Cross-Border Merchant Friction Index analyzes the key friction points experienced by consumers browsing, shopping and paying for purchases on international eCommerce sites. PYMNTS examined the checkout processes of 266 B2B and B2C eCommerce sites across 12 industries and operating from locations across Europe and the United States to provide a comprehensive overview of their checkout offerings.

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