Online styling service Stitch Fix is about to IPO. Is the company picking up new customers and more importantly, retaining them? Here’s what our data shows.
Key Takeaways
- Although Stitch Fix’s new customer acquisition growth has slowed since early 2016, the overall customer base continues to show healthy growth
- Customer retention has remained consistent over the last 18 months
- Across 69 apparel and department store retailers, Stitch Fix customers spend 19% of their wallet at Stitch Fix, followed by Nordstrom, Kohl’s, Macy’s and TJ Maxx
- Stitch Fix is dominating market share vs. Nordstrom’s HauteLook and Trunk Club
Stitch Fix customer base continues to show double-digit growth
New customer growth has slowed since early 2016
Customer retention has remained consistent over the last 18 months
Average Stitch Fix customer spends $568 in the first 12 months after first purchase
In 2017, Stitch Fix customers spent 19% of their apparel wallet at Stitch Fix – followed by Nordstrom, Kohl’s, Macy’s and TJ Maxx across 69 retailers in the analysis
Stitch Fix commands ~62% market share (up ~5% from last year) vs. HauteLook and Trunk Club
