Rent the Runway has been a favorite clothing store of celebrities are now available at online clothing stores as well. However, with online shopping comes lots of new challenges. You can’t drive to the mall and have an hour to browse through countless sellers to find the best deal. At least, that’s the promise, anyway.
In this age of technology, it’s hard to imagine how we get our clothes when all the way people shop. Let’s talk about a proven method that you can use to make sure you get the best price when you rent the Runway or other brand of clothing.
Let’s face it, you could probably get a discount on several apparel, especially when you are ordering clothing products like Runway. You should know that the online retailer will give you a low cost “trademark” price on these items when you rent the Runway. Just as it does with the normal retailers, they want to get rid of their inventory fast.
In the aftermath of the HBR Case Study Solution for Rent the Runway, it seems a bit odd that I would recommend a discount pricing strategy, but here it is, a case study solution, it makes sense. It helps to be able to verify and understand how the problem was solved, so we can apply the same method in our own business.
One of the concerns about these clothing brand names, especially Runway, is the huge difference in pricing between online retailers and their brick and mortar counterparts. The reality is that there are several factors that influence pricing differences.
The HBR Case Study Solution can help you understand the critical difference between online prices and brick and mortar prices. Here’s how it works.
For the case study Solution to be effective, you need to look at the Runway name brand as a retailer’s equivalent of regular clothes. If it is a physical store, the pricing strategy may be a bit more straightforward, but the Runways can also be found online via auction websites, newspapers, eBay, etc.
I’m not suggesting that your pricing strategy for your clothing brand can’t be a bit more sophisticated than that of the HBR Case Study Solution. But I do think that some simple steps can be used to overcome a few stumbling blocks.
The first step to applying the HBR Case Study Solution is identifying who is making the purchase. For the HBR Case Study Solution to be helpful, you have to identify who is buying from you and at what price point.
After you identify the demographic, it’s time to get a handle on pricing for clothing products. Take a look at eBay’s official fee structure for clothing products, look at eBay’s price guide to help you understand what is your best price point, and then use the discounted price guide that I’ve prepared to determine how you can compete with your competition.
There are plenty of resources that will help you find and apply the HBR Case Study Solution to Runway. But in order to apply the HBR Case Solution, you have to first apply the HBR Case Study Solution.