Question

Why is mobile especially important to Rent the Runway? How are customers using mobile devices to engage with the firm? In what ways do retail storefronts help the firm? In what ways are Rent the Runway stores like Apple stores?

Answer 1

Rent the Runway stores are started in 2009 for the renting of expensive and designer dresses. The customer can rent one piece of cloth for four to eight days at a specific price and other customer can have access for only four pieces of cloth in a month. Instead of this they can swap the dresses number of times. Hence, mobile can provide an easy access to these stores 24*7. It helps the customer to find out the latest collections and book it Hassel free. It saves the time involved to visit the store.

The customers who are using mobile devices can engage with firm as the firm collects the customer preferences data for prediction purpose and also for the advertisement purpose. The customer provides the data to the firm in order to analyses it for the customer himself. The conducts surveys or questionnaire base on which the cloths collection are used for the rental purpose. Usage of mobile gives the location of the customer to the firm that helps in prediction of new rentals based on the location. Hence, it is two way connection between firm and customers.

The retail storefronts help the firm by reducing the load across the branches. It reduces the cost of the business and increases the firm’s growth.

The number of ways in which Rent the Runway stores are like Apple stores as follows:

1. Both are retail outlets either online or offline.

2. Both sells category product such cloth and Mobile, laptop, iPhone etc. respectively.

3. The customer can access the website and can do booking in advance.

4. Both are costly products with brand name.

5. Buying and selling is done on both the stores.