Rent the Runway, the popular clothing rental service, has recently announced changes to its membership options. The company revealed that it will be discontinuing its unlimited swap membership and implementing a new pricing structure. Instead, subscribers will now have the choice to rent four, eight, or 16 pieces per month.

In an open letter shared on the company’s Instagram account, Rent the Runway co-founder and CEO, Jenn Hyman, made the announcement. Previously, RTR subscribers could select from three membership options: a four-item plan for $89 per month with one monthly swap, an eight-item plan for $135 per month with two monthly swaps, or an unlimited plan for $159 per month with unlimited swaps.

According to the letter, Rent the Runway will stop accepting new unlimited swap members as of next week. However, existing subscribers will still be able to utilize the plan until early 2021. The new pricing options will consist of the original four-item plan, the eight-item plan, and a new 16-item plan priced at $199 per month with four monthly swaps.

Customers who choose the four-item plan will have access to “basic closet” items, including casual, weekend, and workwear pieces. On the other hand, the higher-priced tiers will grant subscribers access to a wider range of clothing, including eventwear and premium styles. This shift aims to provide customers with a more flexible plan that can cater to their evolving lifestyles, needs, and budgets.

Jenn Hyman explained that a majority of unlimited swap members were actually renting fewer than eight items per month, with only a small percentage renting 16 items or more. The new pricing options will be better aligned with the actual usage patterns of subscribers.

In addition to the changes in pricing, Rent the Runway has also introduced other features to enhance the customer experience. Subscribers can now create a new shipment before returning the previous one, resulting in faster turnaround times. Furthermore, new members will receive a free replacement shipment within the first two months of subscribing.

These adjustments are being made as Rent the Runway faces the challenges brought about by the COVID-19 pandemic. With stay-at-home orders and remote work becoming the norm, many subscribers have chosen to pause their accounts. In response, Rent the Runway temporarily closed its physical locations and furloughed retail associates. In August, the closures were made permanent, resulting in employee layoffs.

Despite these setbacks, Rent the Runway remains dedicated to providing a valuable and adaptable service to its customers. The new pricing options and additional features aim to meet the evolving needs of subscribers and offer them a convenient and cost-effective way to access designer clothing. By adjusting its offerings, Rent the Runway aims to overcome the impact of the pandemic and continue serving its loyal customer base.

Useful links:
1. Rent the Runway Website
2. Rent the Runway Instagram