How to increase value for customers of style in a box: the first Portuguese online platform for renting luxury dresses

Abstract

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics

Style in a Box (SIAB) is the first platform in Portugal promoting the online rent of high fashion dresses for a fraction of the retail price. The starting point of this work project was the low conversion rate faced by SIAB. It was a sign that visitors did not fully perceive the value in SIAB’s proposition. Accordingly arouse the need to answer how can Style in a Box increase the value to customers? Service, product, price and place were identified as the variables capable of impacting customer value. The key success factor for SIAB is to be able to lead Portuguese women to try the service for the first time. Consequently, it was crucial to understand which variables were contributing to delay the trial and for that purpose assumptions were constructed and further tested through an online survey and semistructured interviews. The research allowed concluding that price and place are the variables that are most likely responsible for deterring the visitors’ conversion. Thus, recommendations were proposed for SIAB to be able to improve the value of these variables, which is expected to boost the conversion rate.