Stitch Fix’s Post

Stitch Fix is back to tweaking its model as it scrambles to stem declines on several fronts. This time, executives said it will be overhauling its onboarding process, and changing how it assigns out its algorithm vs human stylists. All in the name of making things more personal and more exciting. Specific details on this will be coming out in coming months, they said. New CEO, new transformation plan ... #subscriptioneconomy #apparel #retail #ecommerce https://lnkd.in/eihSwf7U

Can Stitch Fix’s new transformation team prove its model at last? The online clothing-box retailer may have an opportunity to undo its mistakes and take advantage of weakness at rivals, analysts say. $SFIX https://lnkd.in/ggHqrykd #tradeguard #receivableputoptions #arputs #receivableputs #tradereceivables #accountsreceivables

We at Stitch experience a lot of brand messaging whether it's for prospective clients, benchmarking or general curiosity, we're always looking for ways to improve and optimize messaging. One recent analysis I did was for a fashion retailer. Here's some metrics: 🥜 Personal Open Rate: 4% 💲 Personal Conversion Rate: 0% 💸 No Purchases to Date 📱 4 SMS to Date A few recommendations: 🔀 Try some other channels. Email might not be best for me. 🕰 Sending window was from 8am ET - 8pm ET. Try other time periods (ie. early morning, late evening). Customers may engage in different windows outside the regularly scheduled campaigns. 🌇 Establish a sunset policy...while your contactable list may shrink, you'll produce better KPIs in your Open Rate, CTR and conversion rate. #StitchAndBraze #AntiAgency #martech

Stitch Fix is looking to transform. Laying off 20% of its workforce including all full-time stylists, closing distribution centers and it's UK operation. They have also hired Tony Bacos from Amazon Fashion as their Chief Product and Technology Officer. ➡ My question - will they be able to actually transform to turn a profit while avoid a boring product mix? What Stitch Fix does have is an abundance of customer data, clearly telling the retailer/tech company what customers want and what they don't want. Using this data alongside a stylist was always their advantage but without human stylists, they may as well just be another Amazon. “If they’re looking to build out more relevant product mixes across their private label program, it would make sense to bring in a chief merchandising officer that would have not only insight into merchandising strategies and how to build out a product mix, but how to use that technology in the insights, and close the feedback loop,” Amlani said. “To actually sort product that people want, that they know they’re looking for because they have a ton of data.” Read more of my thoughts in the latest Retail Dive article by Daphne Howland. 🗞 https://lnkd.in/eiuR9Pp6 #retail #retailnews #stitchfix #amazon #shopping #merchandising #apparel #ecommerce #TRE

Many analysts have openly questioned the viability of Stitch Fix's model -- paying a styling fee for a curated box of clothes that a customer may or may not keep. Nordstrom and others abandoned the approach, which employs an evolving algorithm plus human stylists, years ago. But some analysts including those at William Blair and Liza Amlani see some hope, especially now that the online apparel retailer has elevated a "transformation team." It's been a painful couple of years for the subscription company. Now new leadership must undo the damage from the previous full-time CEO AND find something that works. #apparel #ecommerce #subscriptionbox https://lnkd.in/eNQ-NueY

The tailoring industry is undergoing a significant transformation, driven by technological advancements, changing consumer preferences, and global connectivity. Here are my thoughts on the latest trends: - Sustainability and eco-friendliness are becoming non-negotiable, and tailors must adapt to meet this demand. - Digital technologies are revolutionizing the industry, enabling virtual try-on, 3D design, and streamlined production processes. - Globalization and e-commerce have opened up new markets and opportunities for tailors to expand their reach. - Customization and personalization are key differentiators in a crowded market, allowing tailors to offer unique value propositions. - The industry must balance fast fashion's speed and affordability with slow fashion's focus on quality, sustainability, and timeless design. - Influencer marketing and social media are crucial channels for tailors to showcase their craft, build brand awareness, and attract customers. - Transparency and accountability in global supply chains are essential for maintaining ethical standards and consumer trust. - Technological innovation will continue to shape the industry, enabling greater efficiency, precision, and creativity. Overall, the tailoring industry must embrace these trends to remain relevant, competitive, and sustainable in an ever-changing global landscape.

We are excited to reveal that we have joined forces with A Stitch Ahead! This collaboration is a big deal. 🤩 A Stitch Ahead has long been a major presence in embroidery and branded merchandise. Our partnership demonstrates our dedication to growing our business and improving what we can provide to customers. Read our official press release to learn more about this game-changing alliance. Let's work together to make incredible things happen! ✨💪 #𝗧𝗲𝗮𝗺𝘄𝗼𝗿𝗸 #𝗡𝗲𝘄𝗣𝗮𝗿𝘁𝗻𝗲𝗿 #𝗠𝗼𝘃𝗶𝗻𝗴𝗙𝗼𝗿𝘄𝗮𝗿𝗱 #𝗘𝘅𝗽𝗮𝗻𝗱𝗶𝗻𝗴𝗛𝗼𝗿𝗶𝘇𝗼𝗻𝘀 #𝗗𝗔𝗦 #𝗔𝗦𝘁𝗶𝘁𝗰𝗵𝗔𝗵𝗲𝗮𝗱 #𝗔𝗻𝗻𝗼𝘂𝗻𝗰𝗲𝗺𝗲𝗻𝘁

On Monday, we have time set aside for Stitch strategic planning. We have homework before the meeting and need to respond to a few prompts. The first prompt: If a friend asked, “what are you most excited about with Stitch”, what would you say?” I could have written a whole page here but kept it simple: - I’m excited about the people we are drawing to Stitch. - I’m excited about building a team that consistently wins and gives Stitchers as many new opportunities as possible to grow. - I’m excited about the brands we work with and who we will soon work with. - I’m excited about building a strong, resilient business based on solid fundamentals. - I’m excited about being the top Braze partner in the world. - I’m excited about the solutions are team is creating daily (seriously, this one email solution I saw last week was 🔥) There is a lot to be excited about. Know anyone who would be a good fit on the Stitch team? #Braze #StitchAndBraze #AntiAgency

Have you ever wondered how fashion platforms like Stitch Fix and Myntra personalize their recommendations? Katrina Lake, the CEO of Stitch Fix, delves into the fascinating journey of building the online styling haven in her article "How I Did It" published in the Harvard Business Review. Just like a skilled artist, Stitch Fix uses data science as its palette to craft personalized shopping experiences. Similarly, Myntra, a beacon of style in India, has been refining its approach since 2007. While these platforms excel at tailoring recommendations based on our past choices, should they be confined to our comfort zone? After all, shouldn't fashion be an adventure rather than a routine? Join me in discussing the future of fashion recommendations. Are you a trendsetter or a creature of habit? Share your thoughts! #FashionForward #StitchFix #Myntra #StyleSavvy #businessanalysis #northeasternuniversity #datascience

To conclude my origin story of how I came to start TOTE (this is post 3 of 3): After my experience of walking into a store, the item I wanted not being available, then ordering multiple sizes of the same item online only to return all of them, I started thinking - there has to be a better way. If I could have just told the store, "Hi, I'm Dan. I'll come by on Wednesday after work. I want to try on these 3 jackets and these 3 pairs of jeans - can you have them waiting in a fitting room for me?" then all would have been solved! But when I went looking for that experience, I couldn't find it anywhere. That's when I first started to think that maybe there's a business here? But of course I did some research (a lot of research) before jumping into it. One thing above all stood out to me. When I spoke to people who love shopping, laying out the problem and my potential solution, they all said, "Dan, do it. This is exactly how I like to discover and experience new products. Build the business." But it was when I spoke to people who absolutely abhor shopping that I really thought I might be on to something. They said the same thing. "Dan, do it. I try to get in and out stores as fast as possible when I need something, and knowing that item is there waiting for me is exactly the experience I want. Build the business." So I thought, "Wow, a shopping solution for not only the people who love shopping, but also for the people who hate it. That's pretty close to 100% of the population. I should probably build the business." And so TOTE was born. We have a long way to go, but we're off to a great start. #futureofretail #futureoffashion #retailtech #fashiontech 🛍