Stitch Fix IPO: Customer Growth, Health and Wallet Share
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
