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"People are going to come out of COVID with an appreciation for new experiences and an appreciation for new consumption patterns," said Nuuly President Dave Hayne about the future of rental. "They're going to be eager to go see friends and have experiences, and those things line up really nicely with the idea of rental."Though the pandemic has wreaked havoc on the apparel industry, Nuuly president and URBN chief technology officer Dave Hayne believes the $2.
"It was nice that subscribers were pausing earlier on instead of canceling. That was a really positive thing for us," Hayne told Business Insider. "A paused subscriber is someone who's got a much higher likelihood of coming back into the program."Hayne credits Nuuly's "healthy resurgence" over the summer to Americans willingness to venture out of their homes for socially distanced activities, inspiring some to shed their sweatpants and up their style game.
Additionally, Nuuly has the advantage of being uniquely positioned within the URBN umbrella, using not just its inventory but the company's extensive resources. Though Nuuly features external brands and vintage items on its site, a majority of its apparel comes directly from URBN companies. Hayne said Nuuly's goal is to use learnings and data points from renting and purchasing trends to inform digital strategies more broadly across URBN's entire family of brands.