Stitch Fix has three pillars of growth that serve as the foundation of its strategic roadmap: 1.) expanding relationships with existing clients; 2.) acquiring new clients; 3.) growing its addressable market.
The firm now offers something called Style Pass, which offers select clients unlimited styling for a $49 annual membership fee.
The service was introduced in December 2017. To-date Style Pass has outperformed the results from its pilot phase: As of Q4 2018, the number of Style Pass clients grew nearly 60% compared to the prior quarter Q3 2018. In addition, Style Pass clients spend more per fix, receive fixes more frequently, and have higher satisfaction ratings compared to non-Style Pass clients. Services and new initiatives such as Style Pass add flexibility to Stitch Fix’s offering, allowing the firm to drive increased client satisfaction and also serving as a strong catalyst for client reengagement. Evernote k3d7u9r8