Rent the Runway has introduced a new subscription plan in response to customer requests.
Rent the Runway will begin offering a third subscription model for customers that allows subscribers to receive eight pieces a month—two of which can be swapped per month. Called the “2 Swap Plan” and exists as a hybrid of the brand’s pre-existing subscription plans. For $135 a month, members can choose from the entire range of merchandise; the “1 Swap Plan” only allows members to choose from 450 designers, while the “Unlimited Plan” lets customers choose from all the merchandise and swap as many times as they please throughout the month. Indeed, offering alternative payment plans can help attract younger consumers, according to a Gartner report.
The new plan is a result of customer feedback survey taken by the company in which members widely reported wanting a “middle-of-the-road” subscription option. As a direct-to-consumer company, it’s imperative that Rent the Runway keeps up with consumer preferences. Following a spell of chaos last fall when the brand had to temporarily stop accepting new subscribers, Rent the Runway is now back to business as usual, even increasing its partnership with Nordstrom, in addition to releasing the new subscription tier. The brand has also found success from customers looking for more sustainable retail options, as the subscription service can provide a more economical method of shopping.
Rent the Runway is ready to meet customers in the middle with its new subscription model and may galvanize fellow subscription brands to respond to consumer proposals.