Executive Briefings

'A New Extreme' for the Sharing Economy: Shoe Rentals

The discount shoe purveyor DSW says it wants to give its customers what they want, which is how the chain has arrived at this: shoe rentals.

The retailer recently announced that it is considering adding a rental service, as well as shoe repair and storage facilities, to some of its 511 shoe-and-accessories stores. The experiments are part of a broader effort by DSW, which stands for Designer Shoe Warehouse, to get more customers into its stores.

“Today’s customer craves more than just a transaction, they want an experience,” Michele Love, the company’s chief operating office, said in a statement.

Retailers across the country are racing to add services that might keep customers coming back to their physical locations, where people are more likely to make impulse purchases — and spend more — than online. Nordstrom this month opened its first merchandise-free store, staffed with stylists, tailors, manicurists and bartenders. Apple, meanwhile, is outfitting its stores with outdoor plazas and indoor boardrooms in hopes that shoppers will linger.

At DSW, executives say the idea is to create a one-stop shop where customers can buy everyday footwear, stash items that are out of season — and yes, rent shoes.

“This is something we’ve had a lot of customers ask us for, particularly with special-occasion shoes,” said Christina Cheng, a spokeswoman for DSW. “When it comes to prom or a wedding or a special event, people are usually looking for a very specific shoe in a particular color, that matches a particular dress, that they probably won’t ever wear it again.”

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The retailer recently announced that it is considering adding a rental service, as well as shoe repair and storage facilities, to some of its 511 shoe-and-accessories stores. The experiments are part of a broader effort by DSW, which stands for Designer Shoe Warehouse, to get more customers into its stores.

“Today’s customer craves more than just a transaction, they want an experience,” Michele Love, the company’s chief operating office, said in a statement.

Retailers across the country are racing to add services that might keep customers coming back to their physical locations, where people are more likely to make impulse purchases — and spend more — than online. Nordstrom this month opened its first merchandise-free store, staffed with stylists, tailors, manicurists and bartenders. Apple, meanwhile, is outfitting its stores with outdoor plazas and indoor boardrooms in hopes that shoppers will linger.

At DSW, executives say the idea is to create a one-stop shop where customers can buy everyday footwear, stash items that are out of season — and yes, rent shoes.

“This is something we’ve had a lot of customers ask us for, particularly with special-occasion shoes,” said Christina Cheng, a spokeswoman for DSW. “When it comes to prom or a wedding or a special event, people are usually looking for a very specific shoe in a particular color, that matches a particular dress, that they probably won’t ever wear it again.”

Read Full Article