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May 28, 2019

Urban Outfitters launches clothing rental subscription service

The newly launched subscription service will allow consumers to pick six items, wear them as frequently as they wish and swap them for new pieces the following month.

By MarketLine  

Urban Outfitters has announced the launch of Nuuly, a women’s apparel online subscription rental service in the US.

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Costing $88 per month, the new subscription service will allow consumers to pick six items, wear them as frequently as they wish and swap them for new pieces the following month. There is an option to purchase items if the customer wishes to keep it.

The struggles of the high-street are being felt by Urban Outfitters, which has a large network of bricks-and-mortar stores. While its online business remains healthy, it is vital the company remains relevant to avoid becoming another high-street casualty. Retail is evolving and the company is responding with this new offering.

Combining fast-fashion trend with a sustainable lifestyle

This rental service solves the paradox facing many millennial consumers: the desire for fast fashion, accompanied by a growing moral conscience surrounding sustainability.

Consumers are increasingly being made aware of fashion waste and there is a growing desire for sustainability in everyday lives.

The Environmental Protection Agency estimated that around 15 million tons of textile waste is generated in the US each year, twice the level 20 years ago. The majority of consumers are not ignorant to this issue. However, this has not stalled the growing fast fashion trend.

The launch of this new rental service offers consumers a more sustainable way to access a range of clothing and new fashion trends.

Appeals to consumers looking to reduce spending

Many consumers are likely to be intrigued by this new business model. The idea of being able to rent items that are only going to be fashionable for one season, rather than buy them, is likely to attract interest.

Similarly, for some consumers, it will offer access to premium products but without paying expensive prices.

What is more, this rental service is shrewd. Not only will the retailer gain new revenue through subscriptions, it will also help to generate sales with the likelihood being that a number of subscribers will want to keep some of the clothes they rent.

For a retailer that offers some apparel at the more premium end of the price spectrum, this may be a sale that would not otherwise have been made had the consumer not had access to such an item through the rental service.

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Unilever- A Deep-dive into Product Launches and Advertising Strategy

Unilever product advertising is mainly through mainstream TV channels. Out of the products advertised so far at least 50% (over 850) of ads have been run on TV, while print media comes second with 496 ads. Unilever also utilizes social media platforms for advertisement. Unilever products are categorized by innovation ratings and tags in our product launch database. The North American region consists of almost 74 products with innovations related to the formulation of the product. Europe and other regions also have more products categorized under formulation-related innovation, followed by the packaging and positioning of the products. Most Unilever products are tagged with “High Vitamins”, “Recyclable”, and “Natural” tags to understand what the product differentiator is from other products available in the market. The majority of products belong to the personal care industry with a total of 5,788 products to date. This report, through the Unilever Example, illustrates how GlobalData Explorer enables you to:  
  • Track product launches by FMCG companies to get an understanding of the product-level strategies including geographic concentrations, innovation types, product claim, category focus and more
  • Monitoring the advertising strategies of various brands and gain insights into channel focus, regional focus, and more
  • Perform company-level analysis to understand business model, size, and geographic focus
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.