Stitch Fix Just Figured Out a Way to Get Customers Even More Hooked
Stitch Fix (NASDAQ: SFIX) has delivered impressive revenue growth since its November 2017 IPO. The company is coming along at a time when more consumers are seeking convenience and personalization in everything from entertainment to shopping for clothes, and that is providing a tailwind for growth.
Stitch Fix ended the most recent quarter with 3.2 million clients. That's an increase of 18% over fiscal 2018 (which ended in July). Over the same time period, revenue climbed 29% as existing clients engage with the service and spend more money per client. Winning new customers is important to fueling sales growth, but keeping existing ones coming back and possibly buying more is just as important. Two new features -- "Shop Your Colors" and "Shop Your Looks" -- were recently introduced that aim to do both.
Image source: Stitch Fix.
Source Fool.com
