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EarnestQuery Analysis


Stitch Fix (SFIX):
Customer Growth, Health
and Wallet Share
Source: Earnest Research Consistent Shopper panel data as of October 2017.
Note: A
verage number of new customers per month in the analysis: 1,242;
 customer retention defined as the percentage of customers who transact with Stitch Fix in the 12th month after their first purchase at SFIX; first purchase defined as the first time a panel member transacts with a specific merchant since the panel's creation in April 2013.

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Customer retention has remained consistent over the last 18 months
November 2017
  • 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

Source: Earnest Research Consistent Shopper panel data as of October 2017.
Note: Average number of unique customers per month in the analysis: 8,746.

New customer growth has slowed since early 2016

Source: Earnest Research Consistent Shopper panel data as of October 2017.
Note: Average number of new customers per month in the analysis: 1,292; new customer defined as a panel member transacting with a specific merchant for the first time
since the panel's creation in April 2013.

Stitch Fix commands ~62% market share (up ~5% from last year) vs. HauteLook and Trunk Club

Key Takeaways

Source: Earnest Research Consistent Shopper panel data as of October 2017.

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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

Source: Earnest Research Consistent Shopper panel data as of October 2017.
Note: Number of 2017 Stitch Fix customers in the analysis: 21,348; spend percentages across 69 apparel and department store retailers in Earnest coverage; percentages may not add up to 100% due to rounding.

Average Stitch Fix customer spends $568 in the first 12 months after first purchase

Source: Earnest Research Consistent Shopper panel data as of October 2017.
Note: Average number of new customers per month in the four cohorts in the analysis: 1,195; customer lifetime value defined as cumulative average spend per member per month.

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